How Corporate Travel Changed in 2019
Corporate travel is a huge business. Over one trillion dollars has been spent on corporate travel and the spending is due to increase in the future. The following are just a few changes in corporate travel in 2019.
Artificial Intelligence use on the rise
Artificial Intelligence (AI) is being utilized to make travel experiences more personalized for the business traveler. Airport kiosks provide navigation around airports and the information can even be downloaded to the traveler’s phone. AI can pull up information about a reservation and even perform actions like automatic ride-share reservations if the traveler has this service as a preference.
Travel Management Companies on a downturn
Travel Management Companies (TMCs) have taken a hit from the myriad of online booking tools available in today’s marketplace. Booking on the open online market offers flexibility for the employee itinerary. In the past TMCs have been able to secure corporate rates and adhere to company policies. These TMCs can evolve in the trend by providing outstanding personalized customer service to companies and their business travelers.
Digital Security on the Rise
As the innovations in corporate travel expand, so does the opportunity for cyber thieves to hack into traveler’s personal information and accounts. The antiquated booking systems with airlines and hotels are being updated to increase security for a traveler’s personal information. This includes airlines omitting passport or other sensitive information on boarding passes where it can easily be accessed by almost anyone.
The Sharing Economy
There has been an increase in sharing business services in 2019. According to Statisa, over 77 million users have participated in this sharing economy and it is predicted to increase in the years ahead. This sharing economy is used in many ways including ride sharing or rental car shares with employees in the same destination. Companies are using home or condo sharing especially in more expensive cities where a large meeting or conference is held. This sharing can save the company money as several employees can stay in one place for one cost instead of several individual hotel rooms at higher corporate rates.
Unique Travel Benefits Offered to Retain Employee Loyalty
Many companies are now thinking outside the box and offering travel incentives and rewards to employees that still comply with their corporate travel policies. As a result, companies are becoming more employee centric and following the trend of bleisure travel (a mix of business and leisure on a business trip) for better customization of itineraries especially for the younger generation of employees. The bleisure trend is one of the most popular trends in corporate travel today and it is predicted to increase in the future.
As we head into the year 2020, the possibilities for corporate travel trends are limitless. The changes in corporate travel in 2019 have set many trends for the future. The innovations in travel technology have made it so convenient and personalized for each employer as well as cost effectiveness for companies. Visitors to Expo 2020 Dubai can discover more about the impact of technology on corporate travel starting October 2020.
