China on the Move: A 2024 Guide to Emerging Trends in Corporate Travel

In my previous piece titled "The Evolution of Corporate Travel in China: Emerging Trends for 2024," I delved into the transformative trends influencing corporate travel dynamics in China. Although each trend possesses unique attributes, collectively they outline a coherent roadmap for the future of business mobility in the region.

The recent expansion of unilateral and bilateral visa-free countries, reinstatement of visa-free entry for specific destinations, simplification of visa and customs procedures, alongside the surge in international flight routes will contribute to a faster pace in the recovery of international travel.

As we step into the second month of 2024, the Research and Intelligence team at BCD and I have collaborated on an expanded report covering some of the earlier points I’ve listed in the previous article:

China’s economic slowdown will impact corporate travel

The economic downturn from 2023 is expected to persist into 2024, prompting scrutiny over corporate travel budgets. Travel managers will need to demonstrate creativity in cost reduction while maintaining the effectiveness of business travel. Encouraging employees to blend business trips with leisure can optimize benefits for both the company and employees, showcasing a strategic approach beyond mere cost-cutting. By viewing travel as an investment in employee well-being and productivity, managers aim to achieve long-term savings and enhance overall company performance.

Changing the way employees work and travel

Virtual meetings have evolved beyond a temporary solution, becoming a transformative force in China's business landscape. They signify a broader shift towards digital proficiency and sustainability, reducing travel while enhancing communication and training. As China's travel rebounds, the rise of "bleisure" trips—combining business with leisure—is evident, mirroring global trends. Chinese employees, seeking work-life balance and enriched experiences, are embracing this concept. Companies integrating bleisure-friendly policies redefine corporate travel as holistic, appealing to employees valuing personal growth alongside career advancement.

Data-driven travel management

The emergence of data-driven travel management showcases corporate travel's ability to leverage advanced technologies for strategic advantage. Chinese companies, in a dynamic and competitive market, see the strategic value of employing data analytics to gain a competitive edge. Beyond financial gains, enhanced data analytics contribute to more personalized travel services, boosting traveler satisfaction and potentially increasing employee engagement with travel programs. This can lead to greater financial benefits for companies, including increased compliance with approved channels and suppliers, while fulfilling duty of care responsibilities.

Reducing risk for travelers and their personal data

In response to the growing risks faced by business travelers, Chinese corporate travel managers are prioritizing proactive risk management to ensure employee safety and organizational resilience. Companies are implementing comprehensive risk management strategies, including insurance plans, and educating employees on risk and safety measures. Data security is also a significant concern, with the Chinese government enacting stringent laws to protect personal information, necessitating careful handling of data for Chinese nationals traveling internationally. Chinese citizens enjoy extensive rights against data mishandling, with regulations surpassing those of other countries, emphasizing the government's commitment to data security and national interests.

Sustainable travel is part of a wider green commitment

Sustainability has risen rapidly on corporate agendas globally, with travel buyers recognizing the environmental impact of corporate travel. Chinese companies are leading in sustainability efforts, acknowledging travel's environmental effects. China has heavily invested in sustainable ground transportation, with electric and hybrid cars surpassing traditional vehicles. The expanding high-speed rail network offers a green alternative to air travel, appealing to companies aiming to reduce carbon footprints and enhance productivity. Travel suppliers, such as green-certified hotels, are increasingly involved in sustainability efforts, aiding Chinese companies in seamlessly integrating sustainable practices into corporate travel. Besides reducing environmental impact, sustainable travel solutions can align with broader business goals and potentially yield cost savings, such as lower costs for high-speed rail compared to flying.

Shift to high-speed rail travel

China has developed an extensive high-speed rail network, comprising nearly 44,000 km of track, accounting for a significant portion of the world's total. High-speed rail offers an attractive and cost-effective option for domestic corporate travel, prioritizing time, comfort, and convenience. Known for punctuality and centrally located stations, rail services provide a comfortable and spacious experience for travelers. Chinese corporate travel policies carefully consider trip-specific needs, with rail often preferred for distances between 800-1,200 km due to its convenience. As the rail network expands and trains improve, it is expected to become even more competitive with air travel, particularly considering sustainability benefits. BCD Travel China has introduced Rail+, a comprehensive solution for corporate clients, streamlining booking, payment, and expense management for frequent train travelers, enhancing convenience and efficiency while minimizing administrative burdens.

For further detailed insights into these trends, access our report. Download it now to delve deeper into:

·?????? China's travel recovery: Assessing the trajectory of air travel and the return of airline capacity.

·?????? China’s economic slowdown and corporate travel: Exploring how travel managers are adapting to China's economic slowdown.

·?????? Changing the way employees work and travel: Analyzing the transition to virtual meetings and the growing interest in bleisure travel among employees.

·?????? Data-driven travel management: Examining the role of data analytics in driving efficiency and cost savings.

·?????? Government anti-corruption measures: Investigating the impact on life sciences companies in light of the government's anti-corruption campaign.

·?????? Enhancing traveler safety and data privacy: Reviewing advancements in risk management and the protection of employees' personal information.

·?????? Embracing sustainable travel: Highlighting China's adoption of eco-friendly practices, including the preference for high-speed rail in domestic business travel.