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of Business Travel Post ̶ COVID-19

Future of Business Travel Post ̶ COVID-19
FUTURE OF BUSINESS TRAVEL POST ̶ COVID-19

When considering the future of business travel, it is essential to look at the current trends in travel, the current state of the economy, and what will be necessary for companies to resume business travel.

The impact of COVID-19 is gradually fading and many companies have already reopened their offices. However, the industry still needs to address the effects of COVID-19.

Remote Work in Place of Business Travel

Remote work has become quite popular and has even become a norm for a few companies, like:

  • Teleconferencing and videoconferencing capabilities that allow people to participate in meetings remotely.
  • Online collaboration tools that allow people to work together on projects regardless of where they are located.
  • Conference calls that allow people to participate in business meetings without physically being there.
  • Software applications that allow a small number of employees to conduct a large volume of work with the same efficiency as a larger number of employees.
  • A flexible workforce with a high degree of mobility which can be called upon at any time to perform their jobs from anywhere.

But remote work life should be a complement to in-person meetings, not a replacement. Remote work has its place in today’s business world — but so does business travel.

On the Road to Recovery

Right now, it’s a fact that business travel has declined ever since the pandemic hit. But we’re on the path to recover back and hit close to the previous numbers.

According to recent research by McKinsey, the approximate travel spending of multinational conglomerates is at a total of $80 million in 2019, but that’s reduced to $36 million in 2021. This number is again expected to grow to $65 million in 2023.

This is mostly because some companies are facing difficulties closing deals and finding new clients through video conferencing. When businesses remove themselves from the face-to-face communication aspect of business, they are forced into adopting new strategies, such as video calls or virtual meeting rooms. These solutions do not replace face-to-face communication; they simply create space for it in between scheduled appointments and may not be as productive as they want it to be.

So if business travel resumes post-COVID-19, then who can we expect to travel?

3 Types of Business Travelers in the Post-COVID-19 Era

1. Travelers who shift to complete remote work mode

These are people for whom telepresence is becoming more important than physical presence when conducting business. The best way for organizations to attract these types of travelers is with high-quality video conferencing services.

2. Travelers who will shift their trips to virtual conferences when possible

These business travelers post-COVID-19 aim to minimize their travel by a mix of teleconferencing and in-person meetings. They try to avoid traveling as much as possible. But when the situation arises, they are open to travel for work.

3. Travelers who will continue to travel

This is a relatively small group, but they represent an important customer segment for airlines and hotels — people who value face-to-face interactions and high levels of service. Businesses can find ways to cater to these customers by emphasizing personal connections and offering higher-touch service in an atmosphere that still feels safe and comfortable.

The most important reason for this is that people will still have to meet in person to do business together. It’s difficult to imagine a world where all business is done remotely through technology alone and even harder to imagine a world where politics, logistics, and security concerns allow such a world to exist.

Businesses also need to consider how employees can maximize their time with customers or clients. This is particularly true for B2B companies, where face-to-face interactions are more important than B2C companies. For this reason, businesses may choose to keep some travel policies in place even after they’ve become obsolete because that is what some employees and clients expect.

But exercising safety and cautiousness is of the utmost importance during business travel — even in the post-COVID-19 times. This is why you need to have sanitized and reliable car services to transport you safely in-between places. If you want to book such a reliable chauffeur service in London, reach out to us now.

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