Business Travel Trends for 2024 are revealed by Globetrender and Cytric Easy.
According to a recent report from Globetrender and Cytric Easy by Amadeus, business journey in 2024 will be defined by styles like” Goal Stacking” and” Executive Field Trips.” According to the Global Business Travel Association, this year’s business travel spending will likely surpass pre-pandemic levels for the first time ($ 1.5 trillion, up from$ 1.4 trillion in 2019 ).
However, the way that businesses manage that journey and people travel is changing. Seven trends that will define business travel in the upcoming year have been identified by Globetrender ( the UK’s top travel trend forecasting agency ) and Cytric Easy by Amadeus in Business Travel Trends 2024, a report that is available for free download.
When examining the future of business travel in 2024, Jenny Southan, CEO and founder of Globetrender, says:” Technology is making trip planning and execution ever-more smooth, but there is also a wish to “go back to basics,” which is manifesting itself in nature-based corporate retreats and the restoration of “power lunches.”
This demonstrates how important individual connections are for maintaining successful business relationships. In the end, every journey must be made as efficient as possible to demonstrate the financial benefit and later carbon influence of flying.
She continues,” Discernment” will be the one phrase that best describes business travel in 2024. Companies must balance the achievement of economic and Sustainable targets, which may require all parties to be more careful about the trips they commit to. Employees no longer want to compromise areas of their personal lives to constantly be on the road.
Face-to-face sessions have many advantages, including increasing cultural capital, fostering concepts, and participating in more complex thinking up, according to Deborah Mahoney, head of sales and business development at Amadeus Cytric Solutions. When it comes to meeting clients and customers, in-person interaction gives you a competitive edge because it can result in more effective, successful, and trust-building relationships.
When it comes to business travel, price is crucial. For a trip to be worthwhile of the time and money invested, it must achieve several goals, be exceedingly lasting, easy to plan, and benefit both the employee and the organization. The sole travel reservation application integrated into Microsoft Teams, Cytric Easy by Amadeus, opens up new vacation options and advises staff members on who to meet with and when to accomplish their business objectives.
1. Artificial Par to transform self-reserved travel
The development of Generative Artificial Intelligence ( Gen AI ) has sparked the emergence of” AI PAs” for business travelers. These smart, round-the-clock solutions is patiently assist with everything from providing journey advice to using natural language to inform the traveler of their company’s go policy.
They are able to listen to a precise vacation brief because it is simple to carry on the conversation with follow-up questions after providing an original fast that is friendly and helpful in tone.
2.2. Executive Field Trips: Nature-based group resorts and corporate retreats designed to ascend
The idea of team building days has frequently been used to bring people together, but the burgeoning trend is being driven by a move towards longer trips apart, frequently in nature. With an ever-increasing variety of engaging, unexpected, and occasionally even extreme views, both domestically and abroad, these corporate off-sites are being taken to the next level.
It is believed that building togetherness is crucial for establishing healthy working relationships, increasing employee loyalty, and inspiring people to collaborate on a popular objective. People must be forced to leave their comfort zones and their egos at the door in order to achieve this goal, and these superior trips must include everything from tropical bushcraft to white water rafting.
3. Many goals in goal placing increase the value of business journey.
There will be more demands on employees to support work trips as pressure mounts to follow company sustainability mandates and maintain outgoings in the face of skyrocketing prices. In the upcoming times,” Objective Stacking,” a phrase coined by Globetrender to identify journeys intended to achieve multiple aims, will take over as the standard operating procedure to maximize effectiveness and value.
Business travelers will need to plan ahead in order to satisfy clients, conduct surveillance, forge deals, look into expansion opportunities, analyze competitors, or even take a vacation rather than flying in and out for one conference, sales pitch or event.
4. Blended Itineraries: As strict travel regulations give way, individual experience takes center stage.
Business travelers can now use combined itineraries, which go beyond straightforward “bleisure” trips that include a weekend and several days of meetings, thanks to new business mindsets and automated systems. However, the pleasure and personalization of these formerly strict business travel policies, which then prioritize employee experience, is at the heart of what is taking off in 2024.
5. 5. Online Zero Heroes: Businesses become more intelligent to contribute to the 2050 coal reduction goals.
With the aim of achieving net-zero carbon emissions by 2050, the COP28 global climate summit reached an agreement in December 2023 to” change away” from fossil fuel use and increase clean energy manufacturing.
The business travel industry is taking sustainability goals really, according to a survey of 896 senior decision-makers commissioned by Amadeus, which found that 90 % of travel companies had plans to implement environmental sustainability goals by 2024.
Companies may increasingly accept Objective Stacking as a way to ensure employees maximize the value of trips as well as Blended Itineraries, which will help this thanks to more flexible go policies, as stress to defend the economic impact of business travel grows.
6. Financial technology means that cost reports will soon be dead, according to Digitized Expenses.
The switch to electric expensing and virtual accounts for on-the-go expenses is driving up the level playing field of business financing. The change signals the end of a period that was characterized by the laborious manual handling of price forms and the ongoing juggle of paper receipts.
This change represents a basic overhaul of how company transactions are recorded, processed, and analyzed for many businesses, rather than just an upgrade to the procedures. While ensuring data security and compliance with travel policies, Digitized Charges may increase personalization and improve the user experience.
7. Power marketing: As demand for connections increases, the world events industry grows.
Finally, a new hyper-focused method of acquiring and creating new connections will become known as strength marketing. The time of representatives leaving conferences first or hiding in their hotel room to avoid small speak are long gone; in 2024 and over, every prospect will need to be taken advantage of.
People must make sure their time apart from their computers and people is useful, after all. This entails creating more extensive excursions with numerous meetings outside of the main objective.
The complete Business Travel Trends 2024 record is available for free download for more information on each of these styles.