Business travel is an important means for companies to expand their businesses, build relationships, and grow brand awareness around the world. Statistics show that face-to face meetings are 34 times more powerful than remote, text-based conversations, according to an article in the Harvard Business Review. The GBTA convention in Chicago next week is the perfect opportunity for some face time. What will we all be focused on?
First let’s start with a few facts:
Where are people headed? Asia is now the top destination for business travel, followed by North America and Continental Europe. The U.S. and China are the world’s biggest business travel spenders.
Who is traveling? Millennials are now in the 23-38 age group and they make up the largest group of business travelers. As they move up the ladder into senior positions, they are changing the way things are done, from integrating technology to combining business with leisure. Almost two-thirds of corporate travelers use their mobile phones to complete bookings. Millennial business travelers consider business travel to be a perk of the job, and many see it as a status symbol.
What are their needs? Global travelers are most interested in access to high-speed Internet and media packages as part of selecting accommodations. They are also seeking privacy, a kitchen, and space to make it feel like a home away from home. A large percentage of travelers prefer to use one app to plan, book, and track their business travels.
What are corporations focused on? The cost is always the primary focus, but security for the traveler and safe accommodations are top priorities. Companies advise their employees on potential risks in certain areas and often work closely with their security partners.
What’s the best way for business travelers to be prepared? The best thing a business traveler can do is learn about the country they will be traveling to. They should learn a little bit about the social customs, business etiquette, transportation options, how to get connected, visas, customs requirements, holidays, health, security, money and banking, and food options.
What can we learn at GBTA this year? Sessions range from updates on risk management, technology trends, work/life balance, and accommodation options to best practices, and global business travel trends through 2023.
If you will be attending the GBTA Convention, please stop by Living Abroad’s Booth #3533, and introduce yourself! We would be happy to show you how our country information can support your travel program and result is a healthy bottom line, and happier and safer business travelers.