Near future
No Result
View All Result
February 3 2023
  • Home
  • Tech
  • Health
  • Environment
  • Energy
  • Inland solutions
  • Spazio
  • AI
  • concepts
  • H+
Understand, anticipate, improve the future.
CES2023 / Coronavirus / Russia-Ukraine
Near future
  • Home
  • Tech
  • Health
  • Environment
  • Energy
  • Inland solutions
  • Spazio
  • AI
  • concepts
  • H+

Understand, anticipate, improve the future.

No Result
View All Result
Weather

Covid-19, corporate travel and business travel that is still or in fits and starts for years

Many studies confirm this: for corporate trips and business trips, the time to return to pre-Covid values ​​is long, very long. Here are all the data.

READ THIS IN:

EN CN FR DE JA PT RU ES
Share14Pin3Tweet9SendShare3ShareShare2
man holding handbag

Photo by Andy Beales on Unsplash

August 24 2020
Gianluca RiccioGianluca Riccio
⚪ 4 minutes

In a survey of corporate travel managers conducted earlier this month, the Global Business Travel Association (GBTA) found that 74% of business travelers have most or all business or corporate travel limited by business concerns. coronavirus.

A percentage down from the 93% recorded in mid-April, but still very far from a dramatic recovery. In the new survey, 93% also said that all or most of their company's international business travel is still low anyway.

Although three-quarters of respondents said their companies are slowly starting to put together a travel recovery plan, "Return to business travel remains slow and takes longer than expected", GBTA said.

Corporate travel and business travel in the time of Covid

It is not the only study to say this

Another study on business travel trends from McKinsey & Co. came to the same conclusion, based on interviews with corporate travel planners. "The pandemic continues and travel industry operators await a recovery, but our research shows that the return to pre-crisis values ​​will take years and that business travel will return at a much slower pace than leisure travel.", the company concluded.

The article continues after the related links

Covid, the bitter reality in the new WHO data: 15 million deaths in 2 years

Easy Journey, all-in-one suitcase and stroller: traveling with your parents

A dramatic and crucial figure for cash-strapped airlines and hotels in big cities, which depend on business travel. McKinsey estimated that corporate travel passengers contribute to the supply by 55 to 75% of the typical profits of a large airline, even if they represent only 10% of its passengers.

"Given the volatility of business travel patterns plus significant advances in modern technology and connectivity," McKinsey said (referring to travel alternatives such as video conferencing on Zoom), "the economic disruption of the COVID-19 pandemic will have critical implications for the rebound in corporate travel, and indicates a very long way to go for the industry." The company noted that after the 2008-2009 global recession, which impacted travel far less than the current pandemic, international leisure travel took 2 years to recover, but international business travel is not. returned to the previous volume for five years.

Business trips, the long (and perhaps impossible) return to normalcy

While many travelers may have personal safety concerns regarding returning to the skies, their corporate employers also have a legal responsibility to protect them.

According to GBTA, many of its member companies are tightening the rules for employees traveling in the wake of the pandemic. More than half said they have imposed new requirements for pre-trip approvals. 35% requires "more frequent or detailed pre-trip communications or briefings". The 24% began collecting health information from employees.

Corporate travel, obstacles

On the international side, the biggest obstacle to business travel is the adoption of strict entry bans and / or mandatory quarantines by most nations of the world.

Another problem that hinders the resumption of all business travel is the budget. Many companies have cut travel budgets along with other expenses to cope with financial hardship due to the recession.

McKinsey research shows that business travel is likely to return in stages. This depends on the distance traveled, the reason for the trip and the type of activity.

Other data

In terms of distance, the first take will be represented by regional trips with personal or rented cars, followed at some distance by domestic air travel and finally, but the timing here gets a lot more vague, come on international air travel depending on what happens with the government restrictions, the company said.

Analyzing the motives for various business trips, McKinsey predicts that "in-person sales or customer meetings and essential business operations" will return first, followed by internal small group meetings and training sessions.

The latest will be industry conferences, trade fairs and other major events.

On business types, researchers expect corporate travel in the manufacturing, pharmaceutical and construction sectors to pick up sooner. Technology, real estate, finance and energy will follow. Finally, possibly, health care, education and professional services.

While conferences and trade shows are difficult networking opportunities to conduct virtually, they are also high-risk. This is given the number of participants, which can range from several hundred to hundreds of thousands

McKinsey Report

In summary, from the reading of many clues and reports: the last segment of business travel to recover will be that of giant conventions and fairs. Especially those that attract a large international audience.

For those, nada. At least until the development of a vaccine.

Tags: Coronavirustravel

To submit articles, disclose the results of a research or scientific discoveries write to the editorial staff

Most read in the week

  • 'AI lawyer' to assist client in a lawsuit: first time in the world

    1368 Shares
    Share 547 Tweet 342
  • I tested for you GPTZero, the weapon against the invasion of automatic texts.

    442 Shares
    Share 176 Tweet 110
  • Akio Toyoda has an idea: instead of new cars, we convert existing ones

    369 Shares
    Share 147 Tweet 92
  • Giant wind turbines like skyscrapers, a new study makes them possible

    315 Shares
    Share 126 Tweet 79
  • 27 jobs that will disappear within 50 years

    2836 Shares
    Share 1134 Tweet 709

Enter the Telegram channel of Futuroprossimo, click here. Or follow us on Instagram, Facebook, Twitter, Mastodon e LinkedIn.

The daily tomorrow.


Futuroprossimo.it provides news on the future of technology, science and innovation: if there is something that is about to arrive, here it has already arrived. FuturoProssimo is part of the network ForwardTo, studies and skills for future scenarios.

FacebookTwitterInstagramTelegramLinkedInMastodonPinterestTikTok
  • Environment
  • Architecture
  • Artificial intelligence
  • Gadgets
  • concepts
  • Design
  • Medicine
  • Spazio
  • Robotica
  • Work
  • Inland solutions
  • Energy
  • Edition Francaise
  • Deutsche Ausgabe
  • Japanese version
  • English Edition
  • Portuguese Edition
  • Русское издание
  • Spanish edition

Subscribe to our newsletter

  • The Editor
  • Advertising on FP

© 2022 Near future - Creative Commons License
This work is distributed under license Creative Commons Attribution 4.0 International.

No Result
View All Result
Understand, anticipate, improve the future.
  • Home
  • Tech
  • Health
  • Environment
  • Energy
  • Inland solutions
  • Spazio
  • AI
  • concepts
  • H+