4 Corporate Travel Trends to Look for in 2018
4 Corporate Travel Trends to Look for in 2018
The world of corporate travel is always changing. New technology and cultural shifts shape the business travel industry daily.
In order to stay ahead of the curve, one must stay up to date on the corporate travel trends that will be making an impact on the industry. How will corporate travel change in 2018, and what new trends can we expect to see?
Let’s take a look at some of the trends that are predicted to play a significant role in the corporate travel industry in the New Year.
Rise of Millennial Corporate Travelers
According to research by Skift, the largest intelligence platform for corporate travel, millennials are now the most frequent business travelers.
When these young employees travel for business, they do it in a very different style from their older counterparts. For example, according to the research, millennial travelers are more likely to book their travel based on the type of experience they want to have rather than on any loyalty programs or perks. They are also more likely to share their travel experiences on social media platforms, such as Instagram.
In addition, they are more open to the idea of using services like AirBnB rather than going through hotels. According to data from AirBnB, 15% of nights booked around the world via the app were by business travelers. Ridesharing apps, such as Lyft and Uber, are also more popular with millennial business travelers. Many organizations are starting to recognize the increased flexibility and monetary benefits of encouraging their travelers to use these sharing economy services too.
The corporate travel industry will do well to pay attention to the way that millennials travel and adapt business travel offerings accordingly.
Renewed Focus on Travel Safety
With geopolitical unrest in certain areas of the globe, business travelers need to be aware of security while on business trips. Over the last year, there has been a significant number of terrorism incidents, never mind all of the natural disasters and other situations which have added to the safety concerns of corporate business travelers.
While you can’t predict when a natural disaster is going to strike, it is possible to research the political climate of a region to find out which areas are most risky. Corporate travel planning will need to become more country-specific, so that the traveler can adapt to the unique situation in the place that they will be visiting.
Also, business travelers will benefit from having a support team that can provide backup when things go wrong. In 2018, you can expect to see progress made around tracking technology and other solutions that will safeguard travelers.
Popularity of “Bleisure” Travel
This trend began a few years ago – the idea of combining a business trip with a leisure trip to strike a balance between work and play.
Business + Leisure = Bleisure.
It is predicted that 2018 will be the year that this type of travel becomes the norm. In this study, Booking.com found that 49% of business travelers are already extending their corporate trips to have more time to enjoy the destination. According to a Chase Marriott Rewards study in 2016, 80% of millenials planned additional personal time around their travels while on a business trip. Forbes has also reported that nearly 60% of companies are now starting to create policies that allow employees to combine vacation time and business travel.
What does this look like for you? It might mean business travelers heading to a destination for a conference or a meeting, yet extending their stay there for several days. Once they have attended the meeting or conference, they will take the time to explore the city and enjoy it as a tourist rather than as a business traveler. In some cases, they may even bring along a significant other to enjoy the destination with them.
Bleisure travel allows employees to have the best of both worlds. They can still be high achievers in their careers while also getting many chances to travel and take mini-breaks in exciting destinations around the world. It’s a morale booster and a cost-saver for many!
Heightened Importance of Cybersecurity
Cyber fraud is a very real concern, especially for business travelers. There are a number of risks that you need to protect yourself against, including the risk of your laptop being stolen, hackers stealing confidential corporate information while you are on a public WiFi connection or customs officials searching your device.
Criminals can not only gain access to your personal information, credit card numbers, contact details and home address, but they can also access your booking data and track confidential business activities.
In the New Year, it will be more important than ever to train corporate travelers on how to protect their data while on the road. Here are some very helpful guidelines from Amex on how to keep your data secure while traveling for business.
Looking Ahead to 2018
When it comes to corporate travel, these are a few of the major trends to be aware of in 2018. Corporate travel has been rapidly changing over the last few years, and it is important to stay on top of the trends in order to offer the best possible service and adjust to these changes.
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