The travel industry is among the hardest hit due to the COVID-19 pandemic. The Global Business Travel Association conducted a poll of its members regarding COVID-19’s effect on business travel. The poll was conducted March 18–21 and more than 1,150 of its member companies responded.
Members report companies have canceled or suspended all or most business trips to China (99 percent), Hong Kong (99 percent), Taiwan (98 percent), other Asia Pacific countries (97 percent) and Europe (97 percent). Ninety-six percent of all companies reported canceling or suspending all or most international business travel regardless of the location.
Work from home policies have been instituted in 86 percent of companies polled. Virtual meetings are 75 percent more frequent since the COVID-19 pandemic began. Seventy-one percent of companies instituted new trip approval policies.
Other key findings include:
- 73 percent report significant impact from COVID-19 on company revenue
- 40 percent expect to see business travel resume to those affected countries within the next three months
- 85 percent have canceled scheduled meetings, events and conferences due to COVID-19
- 70 percent of companies modified travel safety and security policies
For the next several weeks, we are compiling the thoughts and experiences of our staff, writers and readers about the ongoing COVID-19 crisis. As a travel publication, we’ve all been affected during these difficult times, as have many of our clients, friends, partners and more.
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Since 1970, Goway Travel has been committed to providing customized travel experiences for world travelers. Few things are better evidence of this commitment than being awarded the 2019 Trazees award for Favorite Tour Operator. Goway Travel heartily thanks the readers of Trazee Travel for this honor and for their confidence in Goway’s work in creating travel memories that’ll last a lifetime.