New research from Sabre showed that while corporate travel is returning, it is coming back differently. The survey polled travel agents and Travel Management Companies (TMCs), revealing some key takeaways.
The majority of those surveyed (84%) said they have changed their business priorities to focus on optimizing costs and efficiencies – while meeting customer and business demands with fewer employees – by introducing new technologies. Four-fifths of respondents have adopted new solutions to manage Covid-19-related risk within the past two years; 42% say they plan to do so within the next year or two.
The majority of respondents (73%) also said re-opening borders is the biggest driver to the recovery of business travel, followed by the lifting of further Covid-19 restrictions (64%). Respondents also pointed to the rise of new corporate travel trends as key instigators of recovery and growth.
Half of respondents predicted that a rise in “internal” corporate travel will create recovery opportunities. As much of the world continues to work remotely, corporations see the benefits of bringing team members together to enhance corporate culture. Respondents also said improved risk management policies are necessary for business travel confidence.
Covid hygiene and sustainability were also among the top priorities of survey respondents. The top personalization demands from corporate clients was choosing only airlines and hotels that meet stringent hygiene standards.
As recovery continues to gain momentum, sustainability is also top of mind. Respondents said sustainable travel options were their third highest priority.
When will corporate travel fully recover? More than four-fifths (82%) of respondents said they expect a return to pre-pandemic levels within the next 12 months; 44% are predicting more business travel than in 2021, while 15% are expecting a corporate travel boom greater than pre-pandemic levels within the next year.
Source: Web in Travel