FX Excursions

FX Excursions offers the chance for once-in-a-lifetime experiences in destinations around the world.

Studies Show Business Travel Confidence Returning

by Kimberly Krol Inlander

Jun 16, 2021
eFlyer Lead

Business travel is on the brink of returning, according to three new reports. The latest monthly Traveler Confidence Index developed by Travel Again shows business traveler confidence soared in May, with 42 percent now fully ready to travel, up from just 20 percent in April. An additional 31 percent are planning some type of business travel for summer, with 74 percent willing to travel domestically for business in the next 90 days. However, employers may not be as ready, with only 22 percent of business travel respondents with current business travel plans.

“With vaccinations on the rise and restrictions being eased throughout the country, there is a sense that a return to normalcy is finally coming,” said Mike McCormick, co-founder, Travel Again. “The data from our latest Traveler Confidence Index shows buoyed confidence among both business and leisure travelers. It is more important than ever that industry and government collaborate on universal standards and clear guidance for resuming safe and responsible travel to keep this trend moving in the right direction.”

Other findings from the study found leisure travelers will venture across the United States this summer; 67 percent are confident to travel domestically. Confidence in international travel continues to lag behind domestic travel, but, for the first time, 50 percent of leisure travelers say they would travel internationally in the next six months.

During a recent press conference, Roger Dow, CEO, U.S. Travel Association, said about 35 percent of U.S. businesses are currently engaging in business travel. However, a new projection from Tourism Economics released in conjunction with U.S. Travel, shows business travel spending and number of trips won’t recover to 2019 levels until 2024.

To help boost the pace of business travel recovery, USTA will launch a “Let’s Meet There” marketing campaign, helping to relay the differences between professionally managed meetings and events and large gatherings. Further, USTA calls for the adoption of federal guidance that “recognizes that health and safety measures can be more readily implemented at professional meetings and events than at other forms of large gatherings.”

Another study from WSJ Intelligence and VistaJet examined the future of business travel, revealing 81 percent of global leaders believe business travel will be more critical than ever. Business leaders feel video conferences failed to generate the same results as in-person meetings: 34 percent of companies saw missed opportunities, with 33 percent seeing fewer deals closed. The Future of Business Travel report surveyed more than 200 high-level company executives in the United States, EMEA and APAC.

“The COVID-19 pandemic has upended the world, including travel. It also showed that some business travel is truly essential and having to forgo in-person trips came at a real cost to companies,” said Ian Moore, chief commercial officer, VistaJet. “Additionally, it is hard to read a room when everyone is in individual windows on screen — misunderstandings can occur, especially across cultures, and these in turn can become costly mistakes.”

Have you traveled for business since the pandemic? What is your company’s current policy for business travel? Do you feel comfortable attending meetings and events? Tell us. Email us at [email protected]. Please include your full name and location.

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FX Excursions offers the chance for once-in-a-lifetime experiences in destinations around the world.

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