A recent forecast from the U.S. Travel Association found that the business travel industry is expected to recover to pre-pandemic levels by 2025. And with corporate travel and business travel spending poised for a full recovery, the business travel industry is rapidly evolving. From sustainable practices to cutting-edge technology, we've identified seven travel industry trends that are redefining the future of the travel industry and reshaping business travel solutions.
1. Employee Health and Well-Being are a Priority in the Post-pandemic World
One of the biggest business travel trends to emerge from the COVID-19 pandemic is a growing investment in solutions that prioritize employee health and well-being while they’re traveling—and there’s no sign of this growth slowing down any time soon. The pandemic underscored the importance of having solutions and policies in place that don’t just reduce travel risk but enhance the overall safety and well-being of employees while they’re on the road.
Does your company’s travel management team need to focus on supporting employee well-being? Corporate travel managers can adopt strategies that mitigate employee risks, create a better travel experience and help foster a sense of security for employees on business trips by taking actions such as:
- Implementing a comprehensive corporate travel policy
- Conducting pre-trip risk assessments of every employees’ itinerary
- Offering training sessions that highlight issues like cybersecurity, identity theft, personal safety, cultural sensitivity, natural disasters, severe weather, and other potential concerns employees may encounter as they travel
- Enabling geo-targeted emergency alert notifications to keep employees safe for both domestic and international travel
- Providing access to quality healthcare no matter where your employees are traveling
2. Destination: Net Zero
As sustainability takes center stage as a corporate strategy, sustainable practices that reduce a companies’ carbon footprint are moving to the forefront of corporate travel trends. Companies are re-evaluating their corporate travel policies to take into account eco-friendly options like carbon offset programs and efficient transportation choices that minimize carbon emissions and choosing hotels that are committed to sustainability initiatives like Green Globe Certification, Green Seal, the Audubon International Green Lodging Program, the Global Sustainable Tourism Council and, in Europe, the EU Ecolabel.
As businesses commit to minimizing their ecological footprint, look for more virtual meetings, fewer trips and longer stays, and purposeful corporate travel policies that make conservation a focus for travel within the United States of America and for international travel.
3. Corporate Travel Powered by Tech
Automation has become the name of the game for business travel technology in the last year. AI-powered travel platforms make self-booking, managing, and navigating trips more efficient than ever, with personalized itineraries and real-time assistance at travelers’ fingertips wherever they go.
In airports, facial recognition and biometric technologies mean business travelers will encounter fewer (and shorter) lines, while hotels are increasingly offering automated check-in and check-out procedures.
Other tech, like augmented reality (AR) and virtual reality (VR) tools, are being used for remote collaboration and site inspections, replacing what would have required an in-person, face-to-face meeting not so long ago.
On the business side, companies are harnessing the power of data analytics to analyze corporate travel patterns, business travel expenses, and traveler preferences, anticipate challenges, allocate resources efficiently, and negotiate better rates with travel partners. This data-driven approach enhances cost savings for companies and helps them keep travel budgets in check. Many companies are turning to travel management companies to provide the tech solutions they need to manage every aspect of their corporate travel—from initial travel bookings to filing expense reports and every step in between—to create a more seamless travel experience for employees.
4. Diversity, Equity and Inclusion in Corporate Travel Policies
A more diverse workforce underscores the need for travel policies that protect and respect the identity and safety of business travelers from a range of different backgrounds. Companies are actively addressing the unique needs of their employees and taking into account issues that may arise during travel, such as dietary restrictions, cultural considerations, and accessibility requirements.
Corporate travel managers can develop DEI-focused travel policies by working with their HR and corporate DEI program leaders to understand the heightened risks travelers may face because of ethnicity, gender, gender identity and expression, disability, or sexual orientation, then work to identify gaps in their current corporate travel policy and implement new policies that provide solutions.
5. Work-from-Home is Changing the Business Travel Equation
The continuted embrace of remote and hybrid work models post-pandemic has driven a major shift in business travel. A corporate travel study by Deloitte found that an increasing number of business trips are to cities within driving distance of employees’ home base and, not surprisingly, there’s been a marked increase in trips to company headquarters by remote employees.
The shift to remote work is also helping to power another key trend that’s driving the corporate travel recovery: the rise of group travel to gather remote workers together for retreats, team-building, planning, in-person collaboration, and to build company culture among a far-flung work force.
6. Add Authenticity to the Itinerary
Another emerging business travel trend? Generic, cookie-cutter hotels are out and authentic, localized experiences are in. More and more business travelers are seeking out accommodations that immerse them in the local culture and—as an added perk—provide a deeper connection to their destination. This shift is driving the growth of chic, boutique hotels in city centers and the rising use of short-term home rentals, such as airbnb, for business travel—and goes hand-in-hand with the seventh trend on our list.
7. Work-cations are on the Rise
As an increasing number of business travelers extend their trips to explore destinations beyond the boardroom, work-cations have become one of the new perks of corporate travel. Fueled in part by the post-pandemic surge in travel and more flexible remote work environments, these part work/part vacation getaways give employees the chance to piggyback on a work trip to experience the destination they’re traveling to in a whole new way. Your corporate travel policy should reflect this growing business travel trend, clearly spelling out that the employee is responsible for increased airfare costs, extra hotel or car rental days, meals and any other expenses incurred during the “vacation” portion of their trip.
We’re entering a new era of business travel, defined by sustainability, technology, and a focus on well-being. As your company navigates its way to the future of corporate travel, in the coming year you’ll need to steer towards a future that’s more inclusive, eco-conscious, and adaptable—and in doing so, you’ll not only forge stronger connections with employees, clients, and partners, you’ll be setting the stage for a more innovative and resilient global business landscape.
Interested in staying informed about the latest trends in corporate travel management? Reach out to Amex Global Business Travel and gain valuable insights into the evolving landscape of corporate travel.