Business Travel Picking Up
New York, NY, March 29, 2022-Business travelers are hitting the road again, reports the Wall Street Journal.
“After Covid-19’s Omicron wave suppressed travel volumes in January, transactions are up significantly over the past nine weeks, according to SAP Concur, a travel and expense software provider. Small and medium-size companies are driving much of the acceleration, analysts say.
“The increase is driven by a host of factors. Workers are returning to offices, restrictions are dropping domestically and internationally, and clients who once steered away from in-person meetings are once again comfortable with face-to-face get-togethers.
“The return is a boon for conference centers, airlines and hotels, which have reported a jump in bookings related to business travelers. In one example of the shift, travel and expense-management company Campbell Travel said that 67% of its business in March was related to corporate travel, up from 51% in January. For workers, returning to the road is a chance to close deals that are best done in person and reconnect with colleagues and clients.
“Aside from standard business travel, other factors are also helping drive increased movement. For one, conferences that haven’t taken place with in-person attendees for two years are back on, like the World Economic Forum in Davos, which was moved to May, and South by Southwest, which took place earlier this month. Moreover, the many workers who have now gone remote are going to have to return to the office occasionally for meetings, according to a recent letter from American Express’s chief executive. The sentiment has been repeated by other workers and managers.”