If a friend were coming to visit me for the weekend, I would say "I can't wait for you to arrive. I'm really looking forward to seeing you!"
If I had set up a business meeting, I would say "The meeting is now set for 11am on Tuesday. I look forward to seeing you."
If you consider that a business conversation or email is more formal, then I suppose you could say that the first is more formal but in my personal opinion, they're simply used in different situations.