BCD Publishes Report on Business Travel Trends for 2022

Amy Stewart

(14 Jan 2022)
 
With the COVID19 pandemic prompting many
businesses to refocus their travel priorities, BCD Travel has
identified the following eight trends that it believes will resonate with travel
managers and travelers in 2022 and compiled them in a new report –
Business Travel Trends for 2022.

– Coming out of a sustained period with little or no travel,
companies are reviewing the value of sending employees on business
trips. Employees value travel for the opportunities presented by
in-person meetings with colleagues, clients and business partners.
But travel programs need to adjust to the new ways of working
created by the pandemic, including finding the right balance
between virtual and in-person meetings.

– The 2021 COP26 UN Climate Change Conference put climate
change and sustainability firmly in the global spotlight. As more
countries and non-governmental organizations, such as IATA, make
commitments toward a net-zero carbon future, the pressure grows
for everyone. Companies are engaging with sustainability, and
travel managers are exploring ways to reduce their program’s
carbon footprint.

London Heathrow (LHR) T2. Picture by Steven Howard of TravelNewsAsia.com

– Gone are the times of rigid employment policies
for office-based workers. The transition to remote settings is
rapidly changing the way we work and travel. Companies need to adjust workplace policies to the needs of
digital nomads and hybrid employees, firmly placing them on the
people risk management agenda.

– An increase in remote and hybrid working demands
companies extend their duty of care
to employees whenever they are away from the office, and not just
when they’re on a business trip. Forward-thinking companies are
moving from travel risk management to people risk management. They
recognize the shift from keeping their travelers safe to keeping
all employees safe, no matter where they are.

– The
risks associated with a global pandemic have dominated people’s
minds for almost two years. But as travel returns, it’s important
to recognize the other risks to which travel managers and their
travelers may be exposed, such as extreme weather events,
terrorism, economic risks and cybersecurity breaches. Companies
must evaluate their travel risk management program to ensure their
employees’ safety and security on the road.

– Cyber threats continue to grow, as does their
potential impact. Many travel managers already recognize the
importance of cybersecurity, placing it at the forefront of their
TMC relationship. But they also need to protect their company and
travelers from active cyberthreats. The first step is to recognize
cybersecurity as a daily risk to travel and take responsibility
for tackling it. Prevention, or minimizing the impact, will pay
dividends over simply responding to cyber incidents after the
damage has been done. Second, as employees are often the weakest
point in a company’s defense, it’s highly recommended that
travelers receive proper security training and follow the right
precautions
when taking a business trip.

– Globalization has brought incredible benefits
over the last 20 to 30 years. But political unrest, changing
consumer values and costs and supply- chain issues are forcing a
rethink. Companies are shifting from a consolidated to a more
diversified approach toward supply, production and consumption and
looking at ways of bringing production back closer to the point of
consumption. Business travel patterns may shift as a result. As
the reset unfolds, travel managers can have the best of both
worlds by selecting travel suppliers with global networks
underpinned by local operations that provide the support and
expertise tailored to the specific needs of employees in each
market.

– BCD’s travel buyer survey revealed payment and expense to be among some of the
biggest pain points when managing business travel end-to-end.
Adopting fintech-based solutions can help simplify, digitize and
automate corporate travel payment, reconciliation and invoice
management. Travelers, travel managers and finance teams can
mutually enjoy the benefits of a frictionless, digital payment
experience, from trip booking and payment through reconciliation.

“With new COVID variants emerging, it’s not clear
when business travel will return to pre-pandemic levels, but it’s
high time companies start thinking about how to future fit their
travel programs,” said Jorge Cruz, Executive Vice President for
Global Sales & Marketing at BCD Travel. “Crucial tasks for travel
managers include measuring the value of travel, demonstrating the
quality of its outcome, and proving to internal stakeholders that
it’s worthwhile. The key is not to simply reduce travel spend, but
to increase the effectiveness of that travel towards meeting the
company’s goals.”

The 24-page, 2.7MB report can be downloaded

here
. Registration is required.

See also:

Travel Risk, COVID19 and Gopass Global – Exclusive Video Interview
with Mark Radford, Founder and CEO.


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Next Post

Business travel trends for 2022

Travel management company BCD Travel has identified eight trends that aims to resonate with travel managers and travellers in 2022 and compiled them in a new report ‘Business Travel Trends for 2022’. The value of business travel is a moving target Coming out of a sustained period with little or […]