The impact the pandemic has had on business travel is well documented and the changing market conditions are leading to a significant shift in the industry. Rebuilding Business Travel – Insights from global TMC leaders on the business travel industry outlook and recovery strategies for 2022, the latest report from Amadeus explores the opportunities, challenges, and growth strategies that will shape the future of business travel.
The research is based on insights from over 250 Travel Management Companies (TMC) executives, gathered through a quantitative survey as well as deep-dive interviews.
Some of the results of the insights shows:
- Within APAC, 82% of business travelers want to be informed about health and safety information on the country they are visiting, before and during their business trip.
- Within APAC, 57% of TMCs see a shift from ‘unmanaged’ to ‘managed travel’. As planning for a business trip becomes increasingly complex with logistical and risk management exercises, employers will require assistance when it comes to travel arrangements.
- 71% of TMCs in APAC cited technological advancements as the top strategy for the recovery of business travel, compared to 63% globally.
Mieke De Schepper, Executive Vice President and Managing Director, Asia Pacific, Amadeus, said: “TMCs in Asia Pacific are the most optimistic that business travel will recover – something which has already happened in the Chinese domestic market – and resume its impressive long-term growth trajectory. But much has changed, and APAC TMCs see clear opportunities in the new world of business travel to also further improve on the past. A great example is the high number who expect more companies to shift from unmanaged to managed business travel. This provides fantastic potential for TMCs to earn more revenue by helping clients with this transformation. Expect more use of technology too: APAC TMCs are especially strong believers in progress through automation.”