Second Wave Brings Uncertainty to Business Travel Recovery
Attention turns to 2021 as two-thirds of companies plan return to in-person events
Alexandria, VA - The majority of Global Business Travel Association (GBTA) companies expect their employees to return to in-person events in 2021. Almost half (45%) expect attendance to resume in the first half of the year, according to the latest poll conducted between September 15-19, 2020, by GBTA, with an additional 25% expecting a return to in-person events in the second half of 2021.
Expectations on company plans to return to office vary with 1 in 5 (20%) of GBTA companies reporting a return to office in 2020. One in three (35%) plan to return in the first half of next year including 28% who expect to return in Q1, but one in five 21% are still undecided. The poll also finds that 16% of member companies have already returned to the office.
Looking at factors to influence the return to the office and in-person events, half (52%) say an effective vaccine for COVID-19 would have the most influence on the planning process. Just under a quarter of respondents (24%) would like to see decreased COVID-19 transmission rates worldwide. Fewer respondents requested increased coronavirus testing and rapid results reporting worldwide (8%) and slowing unemployment and growth in global economies (3%).
Throughout the pandemic, the role of a travel manager and the necessity for a managed travel program has been high on the boardroom agenda. The GBTA poll reveals half (48%) of GBTA companies say their senior managers value a managed travel program "much more" or "more" than they did before COVID-19. This sentiment is consistent with key corporate stakeholders including human resources or risk management, with half (51%) of GBTA companies reporting that these stakeholder value the managed travel program "much more" or "more" than before the pandemic.
"While there is no doubt the current global uncertainty around a second wave is delaying the return to business travel, the outlook for 2021 is looking more positive with companies planning a return to face-to-face meetings and events. It is encouraging to see businesses planning their return to office in a careful and safe way" said Dave Hilfman, the interim Executive Director of GBTA.
View the entire poll results here.
GBTA conducted its 11th poll of members across the globe from September 15-19, 2020. A total of 1,364 responses were received.
About the Global Business Travel Association
The Global Business Travel Association (GBTA) is the world's premier business travel and meetings trade organization headquartered in the Washington, D.C. area with operations on six continents. GBTA's 9,000-plus members manage more than $345 billion of global business travel and meetings expenditures annually. GBTA delivers world-class education, events, research, advocacy and media to a growing global network of more than 28,000 travel professionals and 125,000 active contacts. To learn how business travel drives lasting business growth, visit www.gbta.org.