Predictions from March 30 – April 28, 2020
People go on business trips to build their companies and their careers. Business travel is mission-oriented. Right now, everyone’s #1 mission is to stay safe. Priority #2: do everything you can to set your business and yourself up to get through this mess.
While the mission of the foreseeable future is to stay home, the majority of experts from within and outside of the business travel industry envision a future where business travel does recover.
Despite all of the uncertainty and unknowns, we all have the ability to work with the information we do have. That’s why it’s worth keeping an ear to the ground and observing what predictions are being explored.
Experts believe that the travel industry will bounce back again, but there will be a need for significant physical changes to ensure travel safety. Christopher Anderson, professor of business at Cornell University’s Hotel School, envisions business travel to be the first to rebound. Why? Because anthropology tells us that people crave proximity and being close together in groups, like in-person meetings, creates opportunity.
The slowdown in the travel sector has already taken a massive toll on employers and employees, and researchers are analyzing potential scenarios for recovery of travel industry revenue and jobs. Initial discovery identifies the greatest opportunity to mitigate losses and work towards full recovery is by prioritizing strategic promotions and support of the travel industry.
3. “What will the future of travel look like? TPG asked 16 industry experts”
– Laura Motta, Editorial Director for The Points Guy (April 28, 2020)
There’s a variety of opinions being voiced from leaders within the hotel and airline spaces—however, all agree there’s “no clear answer yet as to when travel will resume.” When and how travel will begin again remains to be seen. One thing that’s for certain is that trust, safety, and flexibility will be of utmost importance to travelers worldwide.
4. “The First Signs of Optimism Emerge in Latest GBTA Study”
– Global Business Travel Association (April 28, 2020)
Scott Solombrino, GBTA CEO, cites positive signals coming out of a recent poll of 1,500+ travel industry professionals. There’s clear optimism about the industry’s path to recovery. While predictions in timing vary, the increased hope is noticeable.
Let us know what you think about how and when business travel will resume in a post-COVID environment.