Corporate Journeys Reimagined 2024 and Beyond The trends and shifts in business travel that we can expect to see in 2024 and onwards
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Corporate travel made major strides in 2023 and travel grew roughly twofold from the beginning to the end of the year. This surge in travel activity has been a catalyst for companies across the globe, prompting companies to adapt and navigate the evolving landscape. Let's explore the, trends and shifts in business travel that we can expect to see in 2024 and onwards.
1) HYPER-PERSONALIZED TRAVEL
a. Data, AI, and Virtual Tours: Revolutionize the Journey In today's digitally driven world, hyper-personalized travel experiences are shaped by data-driven recommendations and services. The advent of virtual tours and immersive experiences, driven by advancements in technology like the Metaverse and ChatGPT, adds another layer of exploration. While virtual tours can't fully replace the sensory and emotional connection of actual travel, they enhance pre-travel experiences, inspire planning, and offer alternative ways to discover destinations.
A significant number of european and us companies plan to decrease travel per employee by over 2 0% to achieve their 2030 sustainability goals
b. Transforming Corporate Travel: With the rise of hybrid working models, chatbots empower businesses to make informed decisions, improve management efficiency, and elevate the overall experience. The integration of AI and automation showcases the symbiotic relationship between technology and travel, enabling companies to streamline and personalize their travel support.
2) AGILE TRAVEL POLICIES
a. Workforce Flexibility: Companies have recognized that virtual conferencing can partially replace travel, and distributed workforces make arranging inperson meetings more challenging. Corporate travel faces unique pressures, with employee demands for luxury services and flexible bookings driving up costs. Additionally, the pursuit of sustainable providers adds to expenses. A Deloitte study highlights the growing need for flexible corporate travel policies. 90% of business travelers now expect options to cancel or modify bookings without penalties, fostering trust and work-life balance.
b. Flexi-Stay: Convenient and Cost-Effective Flexi-Stay addresses the issue of paying for a full day's tariff when staying only for a few hours. This feature allows travelers to pay only for the duration they stay at a hotel, whether it's 4 hours or up to 3 days.
c. Reimagining Accommodation: Embracing Diversity Corporate travel policies are slowly embracing non-traditional lodging options. Alternative lodging offers unique experiences, cost-effectiveness, and tailored amenities for corporate travelers. Embracing platforms like Airbnb provides employees with choice, flexibility, and cultural immersion.
3) ARE OUR WHITE COLLARS TRULY GREEN?
A significant number of European and US companies plan to decrease travel per employee by over 20% to achieve their 2030 sustainability goals. Travel suppliers are investing in sustainability initiatives to attract and retain corporate clients, focusing on reducing emissions and demonstrating green commitments. By embracing sustainable practices, companies not only contribute to environmental preservation but also enhance their brand reputation and appeal to socially conscious travelers, aligning with the transformation of the industry towards responsible travel.
