BUSINESS TRAVEL 2021

BTME ROUNDS UP THE TOP INDUSTRY TRENDS

- GEMMA GREENWOOD

The global business travel market has been badly hit by the pandemic, shrinking some 54 per cent year on year in 2020, according to research by ReportLinker.

However, this decline is expected to diminish to just -4.5 per cent in 2021 and recover thereafter to reach US$829.5 billion by 2027, trailing a post-COVID-19 CAGR of three per cent from 2020 to 2027.

Research firm MMGY is even more optimistic, predicting positive business travel growth in 2021, basing its outlook on December data revealing that 57 per cent of business travellers intend to take a trip over the next six months.

Pent-up demand for travel, combined with anticipation of vaccine rollouts globally, are just two factors providing more than a glimmer of hope for the sector, it says.

Experts argue this desire to travel will give governments and the industry the push they need to quickly innovate, ensuring travel is safer, more comfortable and enjoyable.

However, expectations have changed and 2021 will see the emergence of new travel trends, expectations and priorities – the result of a year spent learning that life is fragile and that our freedom to globetrot should not be taken for granted. Here’s a round-up of what to expect, based on the latest industry research.

Nomadic travel