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Corporate travel Trends kicked off in 2022 and is anticipated to expand significantly in 2023 after initially trailing the post-pandemic explosion in leisure travel demand that started with early vaccine rollouts in 2022. Most of this demand is being driven by business travelers themselves, who are eager to meet with clients, catch up with colleagues, and attend conferences and events in person that they have missed during the preceding three years.
The circumstances behind that yearning to hit the road again are changing swiftly. As they adapt to shifting economic and workforce situations, businesses across Europe have been reviewing their corporate travel policies and putting new expense technology into place.
1. Business Travel’s Comeback and the Effects of Remote Work
It is obvious that business travel has increased throughout Europe. Almost half (48.9%%) of travelers indicated they would make six or more business trips in the upcoming 12 months, compared to just 32.5 percent who indicated they had made at least six travels in the previous 12 months, according to Skift and TripActions data.
The fact that around 75% of business travelers either “strongly” or “somewhat” agreed with the assertion that meeting in person is “always” more productive than meeting digitally is likely what caused the disparity to be even wider in Germany and the UK.
2. New Expense and Payment Trends Are Driven by Travel Changes
New sorts of travel entail new types of expenses in addition to a higher volume, various types of business travels, and the logistics involved in scheduling and arranging those visits. Corporate travel and finance managers reported that in the previous two years, their organizations had implemented 45 percent permanent changes and 35 percent interim ones to their travel policy. Additionally, 35% stated that they were permitting more different types of spending.
3. Making Sustainable Travel A Priority
The most appealing idea was implementing sustainability practices across practically all industries. This also holds true for the aviation industry, which demands a strong sustainable aviation plan.
Sustainable Aviation Fuel “SAF” not only helps to lessen the impact of aviation on climate change, but it may also be utilized without altering aircraft or engines, creating alternative fuel aircraft with different specifications, or developing new fuel distribution techniques.
Companies are eager to get reports on their carbon emissions because it is their primary objective to offset existing travel-related carbon emissions.
Next, there is a need to alter how employees move, making it simpler for them to select eco-friendly solutions like micro-mobility and electric and hybrid vehicles.
4. The Day Of Micro-Mobility Will Come
Business travelers who tend to use Micro-mobility solutions while they are in town (such as electric scooters and e-bikes) will find increased use as a result of efforts to promote sustainable travel.
Using a scooter or bike to go to work is a quick, economical, and sustainable alternative to public transportation. Additionally, the need for micromobility choices is growing from the standpoint of the workforce.
5. The Goal Will Be To Enhance Airport Transfers
When you are unsure of your next destination, arriving at a new airport might be intimidating. Opening a mobility app is much simpler than dealing with unknown transport alternatives.
Your top focus should be taking care of your employees, even when they are not in the office. Additionally, knowing that they can book transportation using the same manner both at home and abroad helps travelers feel more at ease.
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The Future of Business Travel in Europe
Business travel is going through an unheard-of period of transformation. The business nearly came to an end due to a pandemic, and there are indications that a global recession is about to start. Climate change is also a major problem.
However, there is a strong desire for face-to-face meetings as video calls become tiresome. Additionally, this forces anyone in charge of managing travel to balance the needs of sustainability, the hidden cost-cutting, and employee safety, which makes arranging future business trips extremely difficult.
- New ways of working arose, and so did new justifications for business travel. Examples include digital nomads who can work from any location in the globe, remote workers who used to commute back and forth to the office on a regular basis due to relocation, and get-together for remote teams to promote culture and connection.
- People’s priorities for their lives and jobs also had an impact. Aside from societal developments during the past two or more years. Nowadays, businesses and the travel industry as a whole prioritize factors like health and safety, well-being, work-life balance, diversity, equity, and inclusion when it comes to business travel.
In Brief, business travel is still prevalent, but it now involves more than just conducting business; it also involves building and maintaining relationships and expanding businesses, economies, careers, and populations. Additionally, businesses, travel managers, and travel suppliers are rethinking and preparing how they will need to change and accommodate the upcoming generation of business travelers.