According to a recent report by the Global Business Travel Association (GBTA), it is forecasted that the business travel sector will exceed the travel levels seen in 2019 by the year 2024.
This would be the best time to stay informed on the latest and ongoing business travel trends for the upcoming year to help with logistic and budget planning if business travelling is in the pipeline. Keeping up to date will help you make decisions fast and efficient. With these considerations in mind, let’s explore the six significant travel trends to watch out for in 2024.
1. A rise in automated booking systems
It comes as no surprise that, with our increasing dependence on technology, one of the major anticipated trends in travel for 2024 is the growth of automated booking systems.
Automated bookings in the travel space are not a new concept, but they are projected to experience substantial growth in the upcoming years. To provide some perspective, in 2020, the online travel booking market had a value of $432 billion, and by 2025 it is expected to surge to an estimated $833 billion.
Keep an eye out for advertising offers as most of them have been curated and crafted to target your needs based on the algorithm. Automated booking systems provide different top-notch features that can help any business to effectively manage their corporate travel bookings and expenses, making their overall travel experience better.
2. Quicker mobile-booking process
In addition to the surge in automated bookings, there is a growing reliance on mobile devices as well. It’s estimated that up to 70% of individuals use their smartphones to make holiday bookings. What’s more, we’re making these bookings swiftly, with 72% of mobile bookings occurring within two days of a Google search.
As businesses are looking to reconnect via travel, more and more workers will be turning to their smartphones for travel research and by extension, mobile travel bookings. The continued growth in the number of smartphone users by way of increased disposable income, in tandem with the launch of new and improved mobile devices, are a couple of reasons for the significant growth in mobile travel bookings.
To adapt to this demand, travel management services and agencies are producing applications, mobile-friendly site and online offers to capture an audience that is consistently on their screens.
3. Increase emphasis on personalisation
Research conducted by McKinsey reveals that 71% of consumers anticipate receiving personalised interactions from companies, and 76% become frustrated when this expectation isn’t met.
Customers can rejoice as no longer are travel management companies offering staple tour packages to companies but rather, customised itineraries planned with your objective and purpose in mind. Based on what you need, companies like Holiday Tours can plan out a trip for a single traveller or a company-building event catering to a large magnitude of staff.
This could include offerings like sports events for football enthusiasts, ski getaways for winter sports fans, and treks and safaris for adventure seekers. Knowing that customers are empowered by technology, these travel management companies are more geared to ensuring that your needs are met.
4. Larger scale bleisure trips
The term “bleisure travel” describes the blending of business and leisure aspects during trips. Essentially, it involves extending or combining a work-related journey with personal leisure travel, either on your own or with friends and family. For instance, you might choose to book a few days for a city break before or after a conference or secure a week by the beach following a significant business meeting in another country.
Bleisure travel gained momentum in 2023 as lockdown restrictions eased, and it has become so popular that it’s projected to outpace traditional business travel. More than 89% of individuals intend to incorporate personal vacation time into their business trips.
Companies can look to incentivise their benefits with the knowledge of bleisure. By working together with your travel management company, you can incentivise travel for the employee by allowing them to extend their stays, gain points and provide discounts for their whole family to be included in the experience with minimal cost to the company in the long run.
5. Demand for eco-friendly tourism
As the environmental impact of travel becomes a subject of greater scrutiny, it’s not unexpected that an increasing number of people are exploring more sustainable choices. According to a report from World Travel and Tourism Council (WTTC) and Trip.com Group, a significant 69% of travellers are actively seeking out sustainable travel options in 2023, and this trend shows no signs of slowing down.
According to a recent report from the Global Business Travel Association, 92% of business travel professionals cite sustainability as a priority for their company. In addition to calculating your organization’s carbon footprint, some organisations also calculate the carbon footprint for each of their employees as they travel. This will incentivise your employees to travel more sustainably on their own. Your organization can even reward team members who reduce their carbon footprint the most.
As we move into a new era of business travel, now is the perfect time to rethink your organization’s strategy and implement new sustainability practices.
6. More transformative journeys
A trend that continues to gain popularity is the concept of wellness getaways and transformative journeys. Many modern travellers no longer desire to return from their vacations feeling less healthy or fulfilled than when they departed. Instead, they aspire to return as better versions of themselves.
Consequently, there is a growing inclination to seek out holidays and journeys that incorporate experiences aimed at enhancing one’s physical and mental well-being, as well as knowledge. These experiences may include activities such as yoga or meditation retreats, cultural immersions, adventurous outdoor explorations, and culinary escapades.
Say hello to a new era of business travel
So, there you go, a brief overview of some of the key business travel trends to keep an eye on as we move into 2024. You can expect unique destinations, unconventional experiences and true authenticity coming your way!
START PLANNING YOUR NEXT BUSINESS TRIP TODAY.
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