Business travel trends 2020
2020 has always had a futuristic sound about it. But now we’re here, what lies in store for business travel news in the coming months?
First of all, we’re not slowing down. Business travel will continue to be an important part of our working lives. As such, businesses are adapting their policies and practices - from offering flexible working space, to seeking wellbeing hotels for travel.
With so much devotion to life on the road, the rollout of 5G will help speed up the process. Nonetheless, employees will continue to look for solutions to make travelling easier and more efficient.
Here’s six of the big trends you can expect to read more about in business travel news this year:
Small increase in Cost
As with every new year, you can expect increases in accommodation and transport costs. The good news is that these will be marginal in the year ahead, to balance out the period of unsettlement we’ve been experiencing.
According to research by the CWT and Global Business Travel Association, this year, prices will only rise “modestly”. Flights are expected to increase by 1.2 percent, and hotels by 1.3 percent. Car rental rates will also shift by a small 1 percent.
Remote Working Facilities
Those in the field of construction and retail already work long hours away from home. But as remote working continues to grow in all fields, businesses will need to address the lack of connection that many employees feel.
With this changing way of working, flexible office spaces have been growing at a pace. It’s one of the biggest business travel trends of 2020 with the market estimated to be worth an estimated $26 billion, growing annually by six percent.
For 2020, you can expect to see more businesses offering colleagues the opportunity to co-work from shared offices, when deployed remotely. This may even extend to access to business lounges from airports and train stations.
Wellbeing and Eco Hotels
Wellness travel has grown in prominence in the past year. Hotels have started to respond to the challenges that come with business travel, by offering helpful solutions to guests and the wider environment.
For instance, the 'Even Hotel' chain in USA offers in-room gym facilities, healthier food options and plenty of relaxing spaces in their properties. While in the UK, this year London see’s the long-anticipated opening of Pan Pacific, One Bishopgate Plaza. It promises to be a zero-waste hotel with eco-friendly elements from a recyclable water system, to a compactor which transforms food waste into compost.
Simplification of Business Travel
With business travel on the rise, 2020 promises to focus more on the specific needs of travelers. One in particular is the efficiency of travel. An industry report identified that 72 percent of travel buyers want a simplified process for business travel.
One of the big updates in business travel news is that greater efficiencies will be sought after from hotel bookings, transport ticketing and commuting. For instance, more companies will opt for travel booking systems for a consistent booking process offering savings and efficiency.
We can also expect a shift towards digital check-ins at hotels to speed up the process. Train companies are already going ticketless with mobile phone Apps, something we expect car hire companies to introduce in the near future.
Workforce travel platforms like Roomex offer fast, efficient, and free services that help businesses manage and save on hotels. These easy to use services help the traveler make the right choice with personalised travel policies integrated in the platform, and no out out pocket payment, while easing up the end of month reconciliation process for the finance team with all bookings on one invoice.
More Connected than Ever
For better or worse, we’ll be more connected than ever in 2020. With the rollout of 5G, connectivity is expected to be faster and more reliable than previously. For those on the road, this will be extremely helpful.
As we continue to work ‘on the go’ mobile devices will continue to be the main source for bookings and transactions. Currently, market statistics reveal that over a third of us book hotel travel using our mobile devices. Expect to see more travel booking systems offering App versions to assist with this process.
With the rising cost of personal travel, it’s understandable why many workers choose to add a few days on to a business trip to take time out.
While this isn’t new in business travel news, the way it’s being adopted as part of an employment package is.
One study found that nearly half (46 percent) of business travelers would extend a work trip, and 45 percent of employees view it as a “better work perk than traditional workplace benefits”.
There you have it – six big trends to disrupt business travel in the coming months. To read more about one of the big ones – bleisure travel, check out our previous post here.