As corporate travel gradually eases into the post-pandemic era, Sabre
notes that the increase in corporate bookings is turning up new trends
such as a switch to low-cost carriers and a focus on new technology.
Corporate travel agents and travel management companies in 21
countries across APAC recently revealed through Sabre’s survey of how
they are adjusting their business models to adapt to the new trends in
the corporate travel landscape.
Survey respondents say that the corporate travel industry should
increasingly try to tailor make their offerings for new realities in the
workforce, such as remote and blended working arrangements, while
embracing technology to capitalise on, and drive, ongoing recovery. Key
findings include:
• The majority of corporate travel agents (84%) have changed their
business priorities as a result of the pandemic, and are now focused on
optimising costs and efficiencies, while meeting customer and business
demands with fewer employees.
• Four-fifths of respondents have adopted new technological solutions
to manage Covid-19 related risk over the past two years. And, of those
who haven’t, 42% plan to do so within the next two years. The most
popular solutions are travel risk management tools, automated workflows
and virtual payment tools.
• Half of agents said a rise in internal corporate travel, to bring
remote workers together, will create recovery opportunities, while 45%
said emerging corporate travel markets are important for growth.
• There’s strong optimism in the market, with 82% saying they expect a
return to pre-pandemic corporate travel levels, and 15% expecting a
boom greater than pre-Covid-19, within the next 12 months.
• More than two-thirds of respondents have seen an increase in
bookings in the three months to August. Most are reporting an increase
of not more than 30% but there’s a notable 14% with an increase of more
than 50%.
• 55% say company Covid-19-related travel restrictions are easing, and 38% say total travel spend is increasing.
• Cost remains a key consideration. More than two-thirds have seen a
moderate or significant increase in bookings with low-cost carriers. The
trend is most prevalent in North Asia where there’s been a 42% switch
from FSCs to LCCs.
• Corporate travellers place high priority on information,
flexibility, and hygiene. However, companies are also turning their
attention to sustainability as one of the key personalisation priorities
for corporate travel.