Corporate travel outlook: Where are companies spending in 2023

Are you ready to pack your bags and get back on planes again? After two years of pandemic-induced travel restrictions and remote work arrangements, the corporate travel industry is poised for a comeback in 2023. Corporate travel is back on the agenda as the global economy recovers. Corporate travel management companies seek to rekindle client relationships, attend conferences and meetings, and explore new market opportunities.

But what will the prospects be for corporate business travel management in 2023? How are businesses changing to reflect the new travel industry realities? We would like to share our take on the major trends and priorities in business travel for 2023.

Let's talk about where businesses spend their travel money and how they prepare themselves for success in the post-pandemic environment, including everything from safety and health precautions to sustainable travel practices, technological updates, and employee experience.?

Safety and health precautions

In our opinion, businesses will continue to prioritise keeping their staff members safe and healthy when on business trips. Enterprises invest in cutting-edge technologies like contactless check-in, thermal scanners, and hygiene measures to ensure their employees are safe and comfortable on corporate travel trips.

Sustainable travel

Businesses are increasingly investing in eco-friendly travel solutions to regulate their carbon footprint. Companies are implementing various sustainable practices as part of their corporate business travel management services to achieve their environmental goals. From picking eco-friendly hotels and airlines to promoting virtual meetings and cutting down on unnecessary travel, companies are on the go to keep sustainability at the core of their operations.

Upgrades to technology

It is the era of the digital world, and travel is no exception. "Travel Tech" is the new buzzword making headlines. Due to the pandemic's greater dependence on technology, businesses spend money on smartphone apps, online booking services, and travel management software. Companies may cut costs, improve the traveller experience, and increase regulatory compliance by utilising technology.

Focus on employee experience

Businesses have chalked out plans to invest in personalised travel experiences to improve employee happiness and retention. Employee experience is a crucial factor for organisations. Companies are prioritising the health and happiness of their employees by providing premium travel benefits like airport lounge access and better lodgings, as well as by incorporating leisure activities into business visits.

Flexible travel policies

The pandemic has brought attention to the value of flexibility, and businesses are updating their travel policies to provide their staff with more freedom. This covers choices for refunded reservations, last-minute itinerary modifications, and cancelled or modified travel plans.

Domestic travel will predominate in 2023

Domestic travel will likely take the lead in corporate travel in 2023. Companies are concentrating on domestic locations, such as regional meetings, site visits, and training programs.

Rise of "Bleisure Travel"

Corporate travellers increasingly favour bleisure travel, a perfect blend of business and leisure travel. To encourage work-life balance and employee engagement, businesses facilitate employees to extend their business trips to include leisure activities like sightseeing, shopping, and cultural events.

Enhanced duty of care for employees while travelling

Due to the continuous global unpredictability, businesses are putting more emphasis on risk management. This includes putting travel risk management programs in place, extending round-the-clock help to business travellers, and providing extensive travel insurance coverage.

Personalisation in corporate travel

As per our findings, businesses are anticipated to emphasise personalisation in "employee business travel" in 2023. This entails personalising travel experiences for each employee, offering tailored-made options and services while planning their itineraries to locations for corporate travel, and providing various travel choices that satisfy different needs and interests. Businesses may boost their travel programs, increase efficiency, and improve employee satisfaction through personalisation. As a result, we anticipate seeing more companies engage in personalisation to give their employees more purposeful and exciting travel experiences.

In 2023, the corporate travel sector will undergo a revolution as firms adjust to business travel's shifting demands and objectives. Companies have reviewed their travel policies in response to the pandemic, emphasising the needs of their workforce and their growth ideologies.?

Additionally, as domestic and leisure travel picks up steam, businesses are looking at new ways to use corporate travel to boost employee engagement, productivity, and well-being. The development of technology has also made it possible for companies to improve their employees' travel experience.

It will be fascinating to watch how these trends develop over time and affect how business travel is utilised in the future. While the Covid-19 pandemic has created many difficulties for the travel industry, it has also given businesses a chance to rethink their policies and implement state-of-art solutions that improve their ability to compete for their output and contentment with their workforce.

We would sum up by saying that businesses are investing in safety, sustainability, technology, and employee experience to improve the travel experiences for their employees, which bodes well for the corporate travel outlook for 2023. Companies may successfully navigate the post-pandemic travel landscape by staying current on the industry's newest trends and best practices. So, whether you're a travel manager, a business owner, or a frequent business traveller, the future of corporate travel is full of exciting possibilities, and the opportunities are waiting for you.

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