The Future of Business Travel

undershot-of-an-airplane-flying-through-cloudy-but-blue-skies

July 7th 2022

Travel has always been an integral part of business. Many Execs and CEOs understand that to really push a business to global success, they’ll need to visit other locations, either domestically or internationally, to close deals.

In the last few years, plagued by a pandemic, travelling for business has understandably been stifled, with up to a 52% decrease in 2020. We’re not talking about a simple daily commute to work here, which would also have been affected by the pandemic – but the necessary globetrotting that needs to be done in high-level business affairs.

With the increased uptake in vaccinations, it is now the hope of many in the business world that they will be able to resume comfortably and safely travelling across the world.

However, some changes may need to be undertaken to achieve this goal. So, let’s talk about what business travel looks like now, and where it could be headed in the future.

 

What Do We Know About Current Business Travel?

Over the last few years, people have had to adapt to other ways of meeting up. From remote and virtual meetings over Zoom, to small domestic meetings only, it’s understandable that businesses across the world saw the impact of the pandemic on their numbers.

 

There is an Appetite to Return to Proper Business Travel

As reported by FinancesOnline in their Business Travel Trends Predictions, 34% of business travel is for customer meetings, which makes up the biggest portion this type of travel. As well as this, the majority of business travellers – equating to 38% – need to travel for business 2-3 times per month.

This is a huge percentage of people who need to travel for work, which really underlines the need for a return to some form of ‘normal’. To top this off, 54% of business travellers “have considered resuming, but no plans yet”, showing that a boom in business travel is likely in the near future.

 

Research conducted by the SAP Concur organisation in 2021 uncovered some staggering numbers with regard to travelling for business:

  • Ninety-six percent are willing to travel for business over the next 12 months, including 65 percent who are very willing.
  • The majority – 68 percent – say they are pushing for a return to business travel, while just 32 percent feel their company is requiring them to do so.

This research really shows the appetite for business travel and a return to normalcy with all things considered. Gen-Z make up around 40% of the workforce, which likely contributes to these healthy numbers and, alongside millennials, will be the future of the business world, making the yearning for business travel even more understandable amongst younger generations.

 

What Trends are Here to Stay?

Some ‘business travel’ may not require you to go anywhere at all. With current technology, we have been able to circumvent the need for physical travel in different ways. While these have been instrumental in the business world to keep things ticking over, they are not likely to replace standard business travel. There has been a limit on international meetings, but this is looking to increase over time post-COVID-19.

So, before we delve into the future of what business travel could look like, let’s examine the ways of connecting which have been adopted out of necessity, due to the pandemic.

 

Virtual Meetings

These are exactly what they sound like. Many people gathering online to discuss business affairs remotely. Despite being the source of many jokes and memes across the internet, online platforms such as Zoom, Google Meets/Hangouts and Slack saw a huge surge in use over the last few years – sometimes being the only way in which employers and employees could actually talk to one another. We believe they are most definitely going to continue to be used post-pandemic, albeit to a lesser degree as more people resume travelling physically for business.

 

Working from Home (WFH) and Hybrid Working Models

A very uncertain future saw businesses being run from home. Both business owners and employees would spend their days working tirelessly surrounded by creature comforts, but with little decrease in productivity. This, to some extent, turned the idea of what business was on its head. People were able to save money on commuting and lunches, and complete all of their daily tasks right from their home each day.

For those who still wanted some semblance of a normal working week could also adopt a Hybrid Working Model, where they spent some days in the office, and some working from home.

We believe these models and ways of working are going to continue to be used as businesses condense their office space to make necessary savings on overheads, as well as maintain a motivated and productive workforce.

 

What Does the Future of Business Travel Look Like?

So now that we’ve explored the current situation of business travel, let’s see what the future could look like.

We’re expecting a big comeback of corporate travel. Some businesses are already back to travelling globally due to the increased safety measures employed on planes, trains and other forms of travel, and we’re likely to only see this trend increase.

 

Types of Future Business Traveller

There’s a few ways in which we may be able to categorise businesses travellers in the future. They can be sectioned into the following groups:

  • Frequent flyers
  • Freelancers/Nomads
  • Group or Team travellers

Frequent flyers cannot conduct their business unless they are travelling, which is deemed necessary to their everyday work. These people likely resumed travelling the moment lockdowns across the world ended, and hopped on the first plane they could, to get back to work.

Freelancers or Nomads are workers who have the ability to work remotely but may sometimes need to be present in a physical meeting with businesses or clients. These travellers may take less of a hit if they are not able to attend a meeting in person.

Group and Team Travellers are workers who travel together, take up more space on an airline, and will need thorough planning to maintain safety as they go. Whilst not likely to be a weekly or monthly occurrence, travelling in groups can present its own set of obstacles, in which adhering to all safety precautions and country guidelines will be incredibly important.

 

Region-Based Access

Many countries across the globe have successfully rolled out the COVID-19 vaccines, but with this in mind, we also need to consider that there may be some countries who have either had less access to the vaccines or are in the midst of a resurgence of the virus.

With this in mind, business travel to some countries may be severely limited, and it would be important to research where you are able to travel far in advance of your departure date to ensure a smooth and safe trip.

 

Possible Adaptations to Your Trip

Along with adhering to all restrictions and guidelines in the region you are visiting, there may be a few ways in which you can get your work done or make your journey without having too much of a headache. These can include:

  • Meeting in unconventional places/spots to reduce risk
  • Enacting time-flexible company policies to benefit those who travel for work
  • Mix business and pleasure – take a relaxed trip in which you also do some work
  • Whilst away, adopt Hybrid Working, only attending the critical meetings in person
  • If you are a business owner, personalise each trip based on the employees needs

 

shot-of-businesspeople-moving-through-terminal-with-blurry-appearance-to-show-movement

We believe that the COVID-19 pandemic was only a small hiccup in the world of business travel, and as more businesses try to return to their usual ways of working, the advent of new technologies and meeting styles have provided much needed time for introspection on how business travel can be conducted.

We hope you’ve we’ve given you something you can take with you on your business travels today, from the understanding of differing traveller types, to ensuring utmost safety during each trip.

If you’re looking to expand your business to really clinch those global business deals, why not consider upgrading your office space? Head over and browse our serviced offices and managed office spaces to see what we at Click Offices have available in your area today.

&libraries=places,geometry&language=en&callback=CO.public.lazyLoadMap">