Things have changed over the last two years. Most of us will never again go to a movie, get on an elevator, or travel by plane without images of COVID germs swirling around us. Work-related travel has yet to find its normal post-2020. As corporate travel settles into a cadence, a few trends have emerged. Here’s a look at them and what they mean for business travelers in 2023 and beyond.
Leaner Corporate Travel Budgets
As in-person correspondence became a cause for worry, companies canceled sales meetings, conferences, and other events. Business travel was down to emergencies only. And now that in-person meetings are making a comeback, conference-goers happily return to the public arena, and company travel budgets have yet to catch up to a renewed desire for travel. Travel budget cuts were so dramatic, a Deloitte Insights survey revealed, that most US companies decreased their travel expenses by 90% in 2020. Budgets are rebounding at a snail’s pace as corporate offices slowly reopen. A large percentage of business travelers are still hesitant to book that flight.
Remote Work Has Changed Everything
As employees traded business suits and computer bags for slippers and home office desks, remote work evolved from a temporary necessity into a fresh perspective on workforce productivity. The technology that allows employees to work from home also provides an alternative to in-person sales meetings. Business travel evolving with technological options is another factor influencing corporate budgets and the need to book that business trip.
Increase In Blended Travel
Bleisure, referring to mixing business with leisure, isn’t new. Also called blended travel, travelers often extend a business trip to enjoy personal time off (PTO). Interestingly, post-2020, the number of bleisure or blended travelers is on the rise. The reasoning behind the trend points to flying out for business and adding a few days to make up for that canceled vacation in 2020; a few days on the beach justify taking the risk of flying somewhere for a meeting. Crowne Plaza Hotels & Resorts released the results of a survey that highlighted the bleisure mindset. Close to 36% of travelers would extend a future business trip an average of two or three more leisure days; they felt more comfortable combining a holiday with a business trip.
Work trips are slowly returning to normal. How long it takes and whether business travel will ever be the same is still being determined. Remote work has changed the corporate landscape and business trips along with it. Companies will need to increase their travel budgets, and travelers will need to find that pre-2020 enthusiasm for business trips, changing their slippers for something more business-like. The hospitality industry is watching hotel stay patterns to stay abreast of the trends. Contact Hospitality Taskforce if your hospitality staffing needs are changing.