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It’s the beginning of 2020 and time for another year of corporate travel, which is crucial for any business. Customer meetings still top the list as the reason for business travel, with average travel plans ranging from once or twice a month to once every two months. Business travel supports business goals, skills development, recruitment and initiatives for the coming year.
What trends will influence business travel in 2020?
- “Bleisure” travel continues to grow with the influx of younger employees into the workforce. More than half of international business travelers also plan to extend trips to accommodate leisure activities.
- Boutique and unique accommodations are growing in popularity. They often feel homier and offer a little more flavor of the destination.
- Self-booking travel options and accommodations are on the rise. However, speaking with a customer service agent is still important for canceled flights and other travel emergencies.
- Travel policies are becoming more flexible. Dynamic travel policies, which adjust according to options available at booking, are on the rise. Dynamic policies tend to have a higher adoption rate.
- New biometric technologies such as facial recognition will speed up security lines.
- The use of blockchain as secure storage of traveler preferences will continue to increase. This supports secure and seamless cross-border travel.
- Dynamic corporate travel programs will help encourage organizational growth, improve retention, and increase employee engagement.
- Political tensions, trade issues, regional conflicts and rising oil prices will challenge growth in the travel industry.
- China will continue to dominate the business travel market, and India is slated to be in the top 5 business travel markets by 2022.
If you have employees who are frequent business travelers, it’s crucial to stay ahead of trends, and to keep your corporate policies updated. The overall goal, of course, remains the same: making business travel efficient for better experiences and investments.
Written by Cathy Heyne, GMS-T, Managing Director
Living Abroad’s Global Business Travel Center supports global business travelers with the tools they need to navigate the unfamiliar with confidence.
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