There was more business travel in 2019 than ever before and that growth looks to continue in 2020. The Global Business Travel Association (GBTA) predicts global corporate travel spend will grow to an estimated $1.513T in 2020. So what does this growth mean, what's the impact it will have on the business travel industry, the business traveler?
TripActions, the fastest-growing business travel platform, has teamed up with global travel news and research leader Skift to explore this and today, published their Business Travel Trends Report for 2020. Here are a few key findings from the report:
- Bleisure Travel is the new black: 44 percent of respondents noted that more employees were participating in bleisure (business + leisure) activities. The growing prevalence of these blended work and leisure trips is encouraging more travel managers to find creative policy solutions to simplify the process for travelers.
- Not surprisingly then, another finding was that employees want to travel for work: 90% of business travelers say business travel is important for driving company growth and 80% of travel managers and business travelers feel that meeting in person was more effective than meeting virtually.
- Taking Care of the Business, the Traveler, and the Planet: Survey respondents in Europe ranked minimizing environmental impact as the #1 quality in a business travel booking service, higher than lower prices and having a wide selection of travel options. In addition to the TripActions carbon offset program, we're seeing airlines and other industry players offering carbon offsetting programs and taking on other sustainability initiatives as travelers become more vocal about their concerns.
- Accounting for health and wellness of travelers: Traveling employees who are able to eat healthily, exercise, and who feel well-rested, nourished, and energized, are better positioned to achieve their business objectives on the road. It's critical that organizations start to address both the satisfaction and wellness of their traveling employees, and the focus on traveler health and wellness will only continue to grow in the coming year and beyond.
Click here to view the full report.
We believe being there in person is powerful. It enables employees to build relationships, close deals and drive growth. Fast becoming the default for corporate travel, TripActions is the modern business travel platform that combines the latest AI-driven technologies with unrivaled inventory choice and global 24x7 365 live human support to delight employees, finance leaders and travel managers alike—all while empowering organizations to seize travel as a strategic lever for growth. Learn more at www.tripactions.com.