Diksia.com - Business travel is an essential part of many professionals’ careers, whether it is for attending events, meeting clients, or exploring new opportunities. However, business travel is not the same as it used to be before the pandemic. The world of corporate travel has undergone significant changes and transformations, driven by various factors such as technology, sustainability, well-being, and generational preferences. In this article, we will unveil the key trends, tips, and tricks for business travel in 2024, based on the information we found from various sources.
The Rise of Bleisure Travel
One of the most prominent trends in business travel is the rise of bleisure travel, which is the combination of business and leisure. Bleisure travel allows professionals to extend their work trips to include some personal time, such as sightseeing, cultural experiences, or relaxation. Bleisure travel can offer many benefits, such as reducing stress, increasing productivity, enhancing creativity, and improving work-life balance.
According to a survey by Hilton, 46% of global full-time and self-employed workers plan to travel for business or bleisure in 2024, with levels varying by country and generation. Employees in India (65%), UAE (64%), and China (60%) are most likely to be traveling for business or bleisure. Globally, 53% of both Millennial and Gen Z employees plan to travel for business in 2024. Moreover, over 30% of millennials and Gen Z plan to extend their business trips to include leisure components, and 29% of Gen X and 27% of millennials plan to bring a friend along on their business trip.
To cater to the bleisure travel trend, many hotels and airlines are offering flexible and attractive packages, such as free or discounted nights, complimentary upgrades, loyalty points, and access to amenities and services. For example, Hilton offers a WorkSpaces by Hilton program, which allows guests to book a day-use room with Wi-Fi, desk, and other essentials, as well as enjoy the hotel’s facilities such as fitness center, pool, and restaurant.
The Shift to Smaller and Emerging Destinations
Another trend in business travel is the shift of corporate meetings and events to smaller and emerging destinations, away from major urban centers. This trend can be attributed to several factors, such as the high costs, congestion, and competition associated with large cities, as well as the desire to explore new and diverse contexts and opportunities.
According to Hilton, in 2023, the destination of many large conferences and events shifted from large, urban city centers into secondary markets. In the Americas, Milwaukee, Wisconsin, Albuquerque, New Mexico, and Fort Myers, Florida, topped demand growth among one-year-out bookings1. Other recently added prime meeting hotels in secondary cities have included DoubleTree by Hilton Abilene Downtown Convention Center (Texas) and Embassy Suites by Hilton Panama City Beach Resort (Florida).
These emerging destinations offer many advantages for hosting events, such as lower costs, less traffic, more availability, more innovation, and more cultural diversity. They also provide more opportunities for bleisure travel, as attendees can enjoy the local attractions, activities, and experiences that these places have to offer.
The Increase in Airfares and Hotel Rates
One of the challenges that business travelers may face in 2024 is the increase in airfares and hotel rates, due to the high demand and limited supply. According to FCM Consulting, major corporate airlines are projected to have seats offered in the first half of 2024 3% higher than the same period in 2019. Furthermore, 50% of these airlines are scheduled to surpass the number of seats offered in 2019. However, this may not be enough to meet the growing demand for business travel, especially in certain regions and routes. As a result, airfares may rise significantly, especially for premium classes and last-minute bookings.
Similarly, hotel occupancy levels and rates are expected to increase in 2024, as more travelers return to the market. FCM Consulting indicates an average of 68% occupancy per month in 2023, and hotels are imposing rate increases of 3 to 8% for 2024. However, the availability and pricing of hotels may vary depending on the location, season, and type of property. For example, resort and all-inclusive locations may see higher demand and rates, as they are popular for bleisure travel and group and incentive travel.
To cope with the rising costs of travel, business travelers and companies need to plan ahead, compare options, and leverage loyalty programs and discounts. They also need to monitor the market conditions and adjust their travel policies and budgets accordingly.
The Focus on Sustainability and Well-Being
Another trend in business travel is the focus on sustainability and well-being, as more travelers and companies become aware of the environmental and social impact of their travel activities, as well as the health and safety of their employees. According to FCM Travel, sustainable business travel will gain more focus in 2024, as more travelers and companies adopt green practices and policies, such as reducing carbon emissions, offsetting environmental impact, choosing eco-friendly hotels and transport, and supporting local communities and causes.
Moreover, the safety and well-being of employees will be the main priority for business travel in 2024, as the pandemic has highlighted the importance of health and hygiene, mental and physical wellness, and risk management. According to FCM Travel, more companies will implement flexible and supportive corporate travel policies, such as allowing employees to choose their preferred travel mode, destination, and accommodation, as well as providing them with adequate insurance, assistance, and resources. Additionally, more travelers will seek ways to maintain their well-being while on the road, such as following a healthy diet, exercising regularly, meditating, and staying connected with their loved ones.
The Role of Technology and AI
The last trend in business travel is the role of technology and AI, which will continue to shape and enhance the travel experience in 2024. Technology and AI will enable more convenience, personalization, efficiency, and innovation in business travel, as well as more data and insights for travelers and companies.
According to Hilton, more travelers will use technology and AI to simplify and customize their travel journey, such as booking online, checking in and out via mobile, using digital keys, accessing virtual concierges, and receiving personalized recommendations and offers. Moreover, more companies will use technology and AI to optimize and streamline their travel management, such as automating processes, tracking expenses, analyzing data, and improving compliance and duty of care.
Technology and AI will also create new possibilities and opportunities for business travel, such as virtual and hybrid events, augmented and virtual reality, biometric and facial recognition, and blockchain and cryptocurrency. These innovations will offer more flexibility, accessibility, security, and creativity for business travelers and companies.
