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Will global business travel expenditure increase in 2021?
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Apr 18, 2022 · Travel is back—so say news stories and corporate earnings calls since the summer of 2021. There are caveats though, and they represent a large share of industry revenue. International travel still awaits an improved pandemic situation and less daunting border restrictions.
Aug 2, 2021 · Corporate travel, which took a big hit during the pandemic, is showing green shoots again. But will it approach prepandemic levels any time soon? How will the shift toward remote work affect the return of internal meetings, client visits, and conferences?
- Peter Caputo
- Business is almost always mixed with pleasure. The rise of bleisure travel proves to be one of the most significant outcomes of the demographic shift in corporate travel, and this trend is expected to continue in the midst of COVID-19 vaccinations.
- Unconventional accommodations are in. Another business travel trend influenced by the new generation of corporate travelers is the growing popularity of unconventional accommodations.
- Self-booking is becoming the norm. More corporate travelers opt to book travel options and accommodations on their own. According to recent surveys, 68% of employees book business travel through tools not approved by the company instead of seeking the services of a travel agent (Expedia Group, 2021).
- More flexible corporate travel policies. When was the last time you looked at your company’s corporate travel policy? There’s a good chance that some of these policies need tweaking.
Jul 7, 2021 · In this article, we identify four categories of business travelers—the “never left,” the “never returning,” the “fear of missing out” (FOMO), and the “wait and see” segments—and provide recommendations for how key players in the corporate-travel ecosystem can make effective plans in this context.
Jul 16, 2024 · The fourth edition of Deloitte’s corporate travel study finds steady corporate travel growth, but with companies challenged to balance a need for more face-to-face client interaction with steep pricing and persistent environmental impact.
Jun 17, 2022 · Research indicated a 26% growth in international business travel expenditure in 2021. Forecasts expect this figure to increase by 34% in 2022, leading to a total increase of 60% in global business travel expenditure (WTTC).
Nov 17, 2021 · Business travel spending this year will likely rise 14% from 2020 to $754 billion, slower than the 21% year-over-year increase it forecast in February. The pace of recovery is crucial for...
