BCD Travel Research & Innovation has identified a short list of trends that will resonate with travel managers and travelers in 2022. 8 of the Latest Business Travel Trends 1. Here is a list of five current corporate travel industry trends that will determine how you travel for business. The Internet of Things (IoT) 4. Some 40% of business travelers believe they will meet or exceed pre-pandemic levels of business travel by the end of 2022, regardless of whether they've actually planned their next business trip. The coronavirus pandemic changed the world as we knew it in many waysand business travel is one of them. ON THE RIGHT TRACK. Increased travel prices, however, remain a persistent concern. According to an article on Tripadvisor's key numbers for 2021, 109,110 new experiences were logged on the platform during the year. Business Travel Market size was valued at USD 1.37 Billion in 2020 and is projected to reach USD 1.87 Billion by 2028, growing at a CAGR of 4.03% from 2021 to 2028. 47 %. Travel trends: 2019 Annual estimates of travel and tourism visits to the UK (of less than 12 months' duration) and associated earnings and expenditure between the UK and the rest of the world. Artificial Intelligence. Grounded for some time, business travelers are eager to hit the road again. 4.2 Key Industry Trends 5 Global Business Travel Market . The average daily cost of business travel in the US is $325 per day. Travel programs will pivot from price to employee experience. Future AI Trends for the Travel Industry. Through interviews with leaders at CWT and GBTA, in-depth data from acclaimed global futurist and NY Times best-selling author, Dr. Shawn DuBravac (Avrio Institute) the forecast shows insight . The Top Hotel Brands of 2022. Click to download Top 9 Travel Trends for 2022 1. Its report, "10 Business Trends For 2020," outlined the hows and whys of changes to the industry, with an eye on the future.Here are five takeaways, and how to plan your travel accordingly. 7% book with a third-party reseller like Kayak. 1. Here are a few AI trends and predictions expected to take over the travel industry in the near future. These changes have profound impacts on the travel policies of all businesses, small and large. By Duke Chung. Increased quality of customer service. As we enter 2021, we took a look at the 6 trends that our data revealed will characterize business travel going forward. The accommodations and ground transportation categories, driven by small and medium-sized enterprises eager to travel and trade, led the recovery. Travel budgets are back - They've been back for some time. A report from the Global Business Travel Association and Hilton published in June of 2018 found that in the past year, 37% of North American business travelers extended a business trip for leisure. Business travel management trends. The American Express Business Traveler Trendex survey showed that sentiment about business travel over the short term is . The COVID-19 pandemic has prompted business travel to refocus its priorities. Prioritisation of Hygiene and Safety 2. Forward looking monthly summary of the latest economic, consumer and travel indicators, trends and analysis. From Uber for Business, Uber's enterprise arm, and the Global Business Travel Association, the world's largest association representing the pre-pandemic $1.4 trillion global business travel industry, the report uncovers pressing concerns and considerations from travel managers at some of the world's biggest companies. The value of business travel is a moving target Business travel patterns may shift as a result. Business Travel Trends for 2022. For some destinations, like Honolulu for example, there was a 3.2 times rise for experiences bookings. Leading travel management company BCD Travel identified eight trends that will resonate with travel managers and travelers in 2022 and compiled them in a new report, Business Travel Trends for 2022. . As the lines between the home and office continue to be blurred by work-from-home trends so too are the lines being blurred for business travel. By investing a portion of their hotel marketing team's budget on data analysis, they have more knowledge to drive informed decisions and adapt as necessary. But a rebound is on the horizon, with event planners reporting a looming crunch for meeting and convention spaces in late 2021 and 2022. The Top Hotel Brands of 2022. Use a local cell phone provider. Flipboard. The "Business Travel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering. February 23, 2022. Most Popular Insights. Health risks and directly pandemic-driven factors still present barriers to corporate travel but generate less concern than in 2021. If you make a habit of using these best hotel chains, you'll earn free nights and/or free room upgrades. Business travel trends For many, business trips will resume. A separate session at the conference took a deeper dive on sustainability with climate change expert Mike Berners-Lee highlighting the limited effectiveness of carbon . Let's take a closer look at top three travel trends that will shape the travel industry this year and beyond. SUSTAINABLE CHOICES TREND 4 SELF-SERVICE A MUST TREND 5 DIGITALISATION Travelers are becoming more and more interested in experiential travel and the overall guest experience. The chaotic scenes at airports in February as the virus started to spread has reminded senior executives of the weight of . Check-in for your flight online. Let's look at domestic cities for reference again. 10. Every new year brings with it new predictions, new trends, and of course, new buzzwords. In 2020, total global business travel expenses contracted by 52 percent, while managed corporate-travel spending in the United States plummeted 71 percent, or $94 billion. Bleisure is turning business travel into a perk rather than a responsibility, and it is benefiting both employers and employees in the process. 28% of millennial business travelers book hotels directly on a hotel's website. 1. Business spend reflected the fall in business visits, and spending on these trips fell by 9%, from 6.9 billion in 2018 to 6.3 billion in 2019 . The Internet of Things (IoT) The IoT is the appliances, devices, and other things that can send and receive data by using internet connectivity. 1. The COVID-19 pandemic has given today's workforce newfound freedom and the shift towards remote working has led to a . Business trips should be more than layovers and long meetings. By The Travel Weekly StaffJuly 12, 2021. Sharing Economy 5. Traveler Trends Fewer Trips - Longer Duration: Business travelers are concentrating on a more coordinated approach to effective travel planning. Dec 2, 2021. Business travelers miss traveling for business, according to a recent survey commissioned by Hilton and Morning Brew of more than 7,000 of the news site's business-savvy readers . Business travel programs have historically focused on controlling costs, but in 2021 there will be a major shift towards traveler wellbeing and duty of care. Business Travel Trends for 2022. 1. The Travel Manager's Role Is Changing A Greater Focus on Leisure Travel 3. Customer Experience 6. Travelers are becoming more and more interested in experiential travel and the overall guest experience. 48% of Millennials that were surveyed partook in bleisure, compared to 33% of Gen-X travelers and 23% of Baby Boomers. Business Travel Trends & Forecasts is a one-day, buyer-focused event series designed to unite corporate travel professionals and provide a platform for information sharing live and in person. . Corporate travelers book half or more of their travel outside approved tools. Kalss and six other experts from areas of the travel realm weigh in on what transformations they see taking place in the year ahead. Would like to see better rates and . It includes transportation, accommodation, business work, entertainment . 16. From what I've seen from users on TravelBank since we launched in 2016, here are nine predictions for business travel technology in 2018. April 1, 2022. Before diving into the resolutions, I'll try to set the stage with Six Trends in Business Travel. According to data from Statista, spending on business travel in America reached a low of $131 billion in 2020, a decline of $160 billion from pre-pandemic 2019. Business travel in the U.S. is not . 1. Market Business News - The latest business news The top hotel brands for business travelers include Hilton Hotels, Intercontinental Hotels, Marriott Hotels, Choice Hotels, Windham Hotels, Hyatt Hotels and Ritz Carlton Hotels. This monthly member-only communication features the Travel Recovery Insights Dashboard as well as the latest data and trends affecting travel's recovery. According to an article on Tripadvisor's key numbers for 2021, 109,110 new experiences were logged on the platform during the year. As the reset unfolds, travel managers can have the best of both worlds by selecting travel suppliers with global networks underpinned by local. Bleisure Travel 2. One, because of the prevalence of business travel by air and car, especially in countries where rail travel isn't an option. This is just one of the things anticipated to drive change in business travel in 2022 and beyond. As a travel business, now is the time to embrace AI technology. Last year, when we reported on the impact of COVID-19 on corporate travel, we projected that the road to recovery would be a long and uneven one. Smart energy meters, smart speakers, and smart televisions are examples of IoT devices common in . 9 Business Travel Trends for 2018. Trips based on Instagrammability, "bleisure" (combining business with leisure travel), design-friendly airports (Singapore Changi, Istanbul, etc), indulgent travel (splurging) these were the biggest travel trends in the past few years (well, if you take Covid out of the equation), and 2022 travel trends will be entirely different. 3. Despite this significant growth, a recent Deloitte study found that business travel is two years . Face-to-face meetings still matter. 1. As I spoke to business leaders and travel managers at different events last year, it was clear . Business Travel Accident Insurance Market describes new entrants SWOT analysis, trends analysis, market supply and demand, strategies for company to deal with the impact of COVID-19 Global . A representative on Delta Air Lines' earning call said its "business travel volumes reached the highest post-pandemic levels . Get updates on the latest industry trends, tips, and news. It is with these questions in mind that Skift and TripActions are releasing "10 Business Travel Trends for 2020," offering a macro-level look at the employee preferences, best-in-class . Travel, especially international travel, brings with it a certain level of risk. In 2019, business travel had injected $334 billion dollars in spending into the U.S. economy and supported 2.5 million jobs, according to the U.S. Travel Association. The pandemic has forced business travel to refocus its priorities. For example, you can now check-in online for flights and add your boarding pass to your phone. 69% of businessmen feel "zoom fatigued" 8. Virtual Reality 7. Coming out of a sustained period with little or no travel, companies are reviewing the value of . 2010 for most industries was a welcomed change from the two years that preceded it. Whilst we don't expect business travel to return to pre-pandemic levels in 2022, we have identified five emerging corporate travel trends to watch out for in a rapidly evolving environment. 14% book with a travel agent ( Skift ). The COVID-19 pandemic has dominated our lives for the last two years, and the recognition of Omicron as a variant of concern may see this continue for a while longer. United Airlines ' CEO Scott Kirby said on his company's call that "business travel is rapidly returning, but it's still not fully recovered.". The industry continues to be shaped by technological advancements and adjustments to processes which cater to travellers' expectations and business needs alike. 1. Travel Expert: 2022 Travel Trends Amid Uncertainty As the pandemic shows signs of potentially easing, travelers are once again planning family vacations and business trips. The changing interpretation of business travel and people focus were two of five macro trends highlighted by the GBTA on top of sustainability, self-service and digitization. Business travel, also known as corporate travel, is a journey explicitly undertaken for work purposes or to expand business operations. Emphasis on Local (vs. International) 4. New resources, straight to your inbox. Business Travel. 2022-01-14 Page 1 of 7 (Fyle, 2020) Companies spend $111.7 billion on business travel every year. The year 2020 brought the Covid-19 pandemic to the world, affecting the tourism and travel industry. Artificial Intelligence 10% book hotels through an OTA like Expedia. In 2021 new travel trends will arrive. The global business travel market size was valued at $695.9 billion in 2020, and is expected treach $2,001.1 billion by 2028, growing at a CAGR of 13.2% from 2021-2028. Business travel is a division of regular tourism in which people travel for a business-oriented purpose. As we know, trends come and go. In April 2022 alone, 85% of companies in the U.S. traveled for business, and the volume of meetings and events saw a 323% increase year-over-year (YOY). Suzanne Neufang, CEO, GBTA opened the conference with the five megatrends impacting business travel and what this means for the future of business travel. This focus on COVID-19 is entirely understandable. They might well be waiting for final travel-policy guidance from employers and clients. For international hotel costs, you can use another tool found at the U.S. Department of State's website to help determine average business travel. For some destinations, like Honolulu for example, there was a 3.2 times rise for experiences bookings. The rise of the Digital Nomad. Tech & Data: Travel checklists for business travel across 2022 has fundamentally changed and requires travelers to adapt to be able to travel safely and within the rules. The COVID-19 pandemic has dominated our lives for the last two years, and the recognition of Omicron as a variant of concern may see this continue for a while longer. Later, when governments finally eased restrictions, the pent-up demand for air travel among many of our American Express Global Business Travel customers and business travelers started to release. Checking in and getting your boarding pass tends to be one of the more time-consuming parts of travel, but luckily, airlines have come up with ways to make it easier. DUBLIN, June 30, 2022 /PRNewswire/ -- The "Business Travel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's According to the latest report by IMARC Group, titled "India Business Travel Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the India business travel market reached a value of US$ 31.7 Billion in 2021. Business travel is generally undertaken for work or business purposes, including . Email. If Gates were right, the. Understandably, travel suppliers are cautiously optimistic. January 14, 2022. The Global Business Travel Forecast offers global and regional pricing along with trends and tips to help you build a travel program fit for the future. Top 9 Travel Trends for 2022. TREND 1 NEW OPPORTUNITIES FOR BUSINESS TRAVEL TREND 2 PEOPLE FIRST TREND 3. (Small Biz Genius, 2021) Businesses spend roughly $1,425 for every employee they send on a business trip. Given the advances in technology that have made a Topeka-to-Tokyo meeting possible without stepping on a plane, one would think businesses would prefer video . Depending on your specific needs, your top picks might look entirely different. The business travel industry experienced a decline of 52% during the early months of the COVID-19 pandemic, but with the recent rollout of vaccines, business travel spending is expected to rise to $842 billion in 2021, which accounts for a 21% increase (Reuters, 2021). Hotels use AI-powered intelligent chatbots to offer personalized and quick resolutions for traveler inquiries. If you want to keep in touch with family members and colleagues more easily when traveling abroad, consider using a local cell phone provider. Travelers are reducing the number of trips, and extending their stay an extra day or two to meet with more clients or colleagues, as well as build out events to maximize their time away from home. Let's find out what business travel trends in 2022 look like. Still dealing with travelers booking business trips on consumer sites? The Power of Virtual Reality 6. Personalisation 3. When it comes to specific trends in business travel, spring has seen particularly strong growth. Rajeev Shrivastava , CEO. 68 %. We reviewed the findings with leading figures from the business travel sector, and a clear picture emerged of a corporate booking experience that too often isn't keeping pace with modern travelers' expectations. Two, because of the CO2 footprint of first-class seats (about four times as much as economy). Leading travel management company BCD Travel identified eight trends that will resonate with travel managers and travelers in 2022 and compiled them in a new report, Business Travel Trends for 2022. If you make a habit of using these best hotel chains, you'll earn free nights and/or free room upgrades. Number of domestic business travel trips will exceed 499.4 million. The number of domestic business trips in the United States has already crossed 462 million. These 18 startups are hand-picked based on criteria such as founding year, location, funding raised, and more. It's one of the most popular international . Business Travel Market Size And Forecast. That's due to a few factors. Voice Control Technology 11 Upcoming Travel Trends for the Travel Industry The top hotel brands for business travelers include Hilton Hotels, Intercontinental Hotels, Marriott Hotels, Choice Hotels, Windham Hotels, Hyatt Hotels and Ritz Carlton Hotels. Forecasting Trends. Here are some key takeaways 95% of travelers are willing to travel for business over the next 12 months More than 69% want their company to loosen travel restrictions 60% want to make changes to be environmentally responsible Download the infographic to help your business meet your travelers' needs Download the resource Download Infographics This is an average of $1,286 per work trip. Similarly, travel chatbots ease accommodation booking and collect customer reviews, which allow potential travelers to make informed decisions. D epending on whose predictions you believe, business travel in the post-pandemic age will either be more important than ever, or forever tamed . Based on research from its clients, Audley Travel says the travel trends it has identified for 2022 include growing group sizes and increased spend as clients ensure their . Eighty-three percent of parents are interested in traveling for business through the fall, and 60 percent are more . Dallas/Ft Worth varies from $150-$160, depending on the time of year. The value of business travel is a moving target. We've identified 8 trends, which we think will come to resonate with both travel managers and travelers during 2022. Hotels that cater to MICE travel crowds aren't fortune tellers, but they do need to forecast trends in business tourism consumer behavior. Learn how to help grow your business from wherever you are, with travel tips to help you stick to your budget, work without Wi-Fi and stay efficient while on the road. BCD Travel identified eight trends that will resonate with travel managers and travelers in 2022 and compiled them in a new report, Business Travel Trends for 2022. Between weather delays, personal life interferences, and rapidly changing business interests, traveling for work is volatile by nature. 5. Wider Adoption of Contactless Payments 5. Along with "standards" like air, hotel, and spend management, topics like digital nomads, sustainability and cybersecurity . U.S. spending on corporate travel is expected to only reach 25%-35% of 2019 levels by the fourth quarter of 2021, and 65%-80% a year later, according to a Deloitte survey of 150 travel . Recovery predictions for business travel are 75% of pre-COVID levels. Duty Of Care And Risk Management. In 2018, advances in AI and machine learning, as well as changes in traveler behavior will continue to reshape the business travel industry. Healthy Options 8. Washington, D.C. goes from $169-$256 and San Francisco is $244-$334. Business travel is at least two years from reaching prepandemic spend, as some travel use cases are expected to spur fewer trips over the long term. The pandemic disrupted business, sending meetings, conferences, and selling to virtual formats. Trend 2: Business Travel May Boost Premium Economy Although corporate travel is a long way from a full recovery, Internova's Vlitas said the airline industry is seeing indications that many more people are now flying for work, and he expects that momentum to build next year. 4.2 Key Industry Trends 5 Global Business Travel Market 5.1 Market Overview 5.2 Market Performance 5.3 Impact of COVID-19 5.4 Market Forecast 6 Market Breakup by Type When it comes to specific trends in business travel, spring has seen particularly strong growth. The company predicts it will be "90% recovered" by midyear. Some important business travel management trends are given below. The global Business Travel Market has witnessed strong growth owing to the increase in travel & tourism and the accelerated development of . Analysis of the broader economy and its impact on travel will provide unique insights to help travel businesses make informed and . Table of Contents: Trend 1: Everyone has more flexibility Trend 2: Travel is blurring the lines of business and leisure Trend 3: No one really knows when business travel will rebound. There may be a new trend emerging for business travelers in a post-pandemic world. But there are some business travel trends that we haven't yet seen the end of, and in fact, we've only just seen the beginning. Published on Jul 01, 2022. . Despite this significant growth, a recent Deloitte study found that business travel is two years . Hotel bookings are extremely fractured. Workspaces With Fast and Reliable Internet List of Business Travel Agents to Attract More Business Travellers In April 2022 alone, 85% of companies in the U.S. traveled for business, and the volume of meetings and events saw a 323% increase year-over-year (YOY). Employee travel is one of the business world's greatest contributors to carbon emissions. Discover The Latest 17 Travel Trends for 2022 6 New Travel Trends Due to COVID 1. If you're traveling abroad often or staying in one destination for a while, a local SIM is really useful to have.