From globalisation to big data, here are five trends that will influence corporate travel programs now and in the future…
With business becoming globalised and surpassing national lines more than ever before before, the need to bring geographically disparate teams, customers and stakeholders together is rising.
The AirPlus International Travel Management Study (ITMS) 2016 said that globalisation is one of the major trends affecting corporate travel. 52 percent of travel managers surveyed identified globalisation as being a key influence over their travel programme, with additional trips expected throughout the year.
It is essential to remember that additional factors like price, the flattening Chinese economy, falls in commodity prices and concerns about carbon emissions, may offset the impacts of globalisation, ultimately causing mixed expectations for that travel market.
Higher travel costs are expected, making finding efficiencies more important
An absolute of 41 % of travel managers surveyed inside the 2016 ITMS believe the price of travel will rise this season. In a few of the largest Western economies, like the USA, Germany and UK, the ratio of those expecting to pay more versus those expecting to spend less is about 5:1.
Rising costs indicates an increased give attention to finding cost efficiencies. We expect that travel managers will be at total trip costs to discover savings, as an alternative to centering on individual trip segments. So by way of example if your room has a lower rate, but its location means higher ground transportation costs, any savings will probably be lost. By studying the costs of travel holistically, travel managers can gain greater transparency on costs and maximise savings. Additionally, the accessibility of new travel management tools and centralised payment solutions are assisting both travel managers and treasurers to lessen processing efforts and gain efficiencies.
Big data will give travel managers more information concerning their travellers than ever before
26 per cent of travel managers surveyed from the 2016 ITMS felt that big data was transforming into a key influence in the travel market. What impact will big data have?
For travel managers, having access to large datasets on their travellers provides them unparalleled usage of information about traveller preferences and behaviour, and travel costs, helping shape their decisions. However this data only becomes a benefit to travel managers, in case they have the necessary tools to integrate data 53dexqpky their particular systems. Only then would they make use of the data to report, coordinate as well as negotiate with suppliers.
Around the flipside, however, suppliers selling to travellers directly get access to similar information. This produces a potential data privacy problem for travellers and firms.
For travel managers, the fastest-growing major trend is data security. A total of 54 percent surveyed with the 2016 ITMS identified data security as being a key concern.
With good profile data breaches, and concerns over corporate espionage and state sponsored surveillance, data security has developed into a high priority.
Travel managers are mindful that confidential company data carried by business travellers must remain secure on a trip, that you have risks connected with travelers’ personal data being handled by service providers and this any data at their disposal must also be kept safe and secure.
Eco-friendly travel is a growing priority
Having a growing understanding of environmental and sustainability concerns, eco-travel has developed into a priority. The 2016 ITMS said that 29 % of travel managers identified eco-travel as being a concern. Companies are under increasing pressure to lessen emissions and subsequently may prefer to reduce air travel or select carbon neutral options.