American Express CEO says the shift to remote work made a new segment of business travelers
American Express expects remote workers to create new demand for business travel, CEO Steve Squeri told CNBC’s Jim Cramer on Wednesday.
“You’re going to have, I believe, a lot more internal travel where colleagues and employees will come into the headquarters to be with their team for a few days. And they may do that multiple times a year. So I think that part of business travel will be a new piece.” Squeri said in an interview on “Mad Money.”
Travel has recovered faster than expected this year, which major airlines expect will help offset higher costs in things like jet fuel. Travelers spent $6.6 billion on airline tickets last month on carriers’ websites, according to Adobe.
