• Business Travel Moving Forward at Healthy Pace

     
    POSTED May 21, 2022
     
    Photo credit: Denver International Airport
  • Business Travel Moving Forward at Healthy Pace

     
    POSTED May 21, 2022
     
    Photo credit: Denver International Airport

The latest Global Business Travel Association (GBTA) Business Travel Recovery Poll revealed that business travel is surging forward and international travel is returning alongside the challenges of rising fuel prices, inflation, supply chain disruption, and the war in Ukraine. In addition, corporate travel policies are undergoing a revamp, and a large majority of employees indicate they are willing to travel for business. 

The conclusions are from an online flash poll of GBTA members and non-members worldwide from April 4-12, 2022, with 520 corporate travel managers and travel suppliers responding. GBTA has been regularly surveying business travel buyers, suppliers, and other stakeholders around the world since the pandemic began to take the pulse of the industry. The results of past polls can be found here.  

April Survey Highlights

  • When asked to characterize their company’s spending on business travel compared to 2019, on average respondents expect their company will be back to 59% of pre-pandemic spend by the end of 2022 and 79% by the end of 2023. 
  • A majority (88%) of suppliers and travel management companies report their bookings have increased in the prior month. This is much higher than the share who said the same in February (45%). 
  • International travel made a big jump with 74% reporting their company now allows it, up 26 percentage points from February. 
  • Of the companies who previously cancelled or suspended most or all trips to a specific region/country, 75% plan to resume domestic travel and 52% will restart international travel in the next one to three months. 
  • One in five respondents (20%) report they have canceled or suspended most or all domestic business travel, compared to 33% in February.  
  • Four in ten (41%) say their company’s return to the office directly correlates to the return to business travel.
  • Nine in ten (94%) GBTA buyers and procurement professionals say employees are “willing” or “very willing’ to travel for business in the current environment, up from 82% in the February poll.
  • Many companies are increasing business travel spend in the wake of inflation. Forty-one percent report they have increased employee travel spending for air travel, 34% for hotel stays, 33% for car rentals, and 26% for ride share and taxis.  

“We’re seeing significant gains in the return of business travel, especially over the past month or two. GBTA’s global data shows more companies are allowing domestic and now also international employee travel,” says GBTA CEO Suzanne Neufang. “Booking levels and travel spending continue to return, and there’s high levels of optimism and employee willingness to travel for business.”  

It’s always good to have market data for a glimpse at what’s happening in the meetings and events industry and know there are credentials for professionals to work toward. The Events Industry Council (EIC) has released its 2022 Q1 Global Business Events Barometer earlier this week and announced its inaugural class of CMP Fellows this spring.

 

Event planners often schedule meetings and events in natural places near wilderness areas, at waterfront resorts, and at mountain event spaces. But there are many ways to bring nature into your events by making use of the architectural concept of biophilic design, which can be defined as seeking to engage most people’s innate desires to affiliate with nature in the modern built environment. If you think of yourself as an “event architect,” you can use nature to stimulate the senses. 

 

It won’t be quite the same as ordering a pizza or nachos to be delivered to your front door but getting eats at venues is taking a leap toward convenience with a new collaboration: DoorDash has become ASM Global’s “On-Demand Delivery Platform” partner, launching at ASM Global’s top North American arenas, stadiums, theaters, and convention centers in the coming months. The partnership will allow attendees to skip traditional lines by leveraging DoorDash services to order within the arena for pickup.