As the world begins to emerge from the pandemic, travel managers are optimistic about the future of business travel. A new report from the Global Business Travel Association (GBTA) and Spotnana reveals that a majority of U.S. corporate travel buyers expect business travel to ramp up and return to pre-pandemic levels by the end of 2023.

Despite concerns about inflation and rising prices, only one in five travel managers say their companies have begun to limit business travel. The report, “How Travel Managers Will Succeed in 2023,” is based on survey responses from 151 U.S.-based corporate travel buyers and addresses key questions about when travel managers expect business travel to return to pre-pandemic levels, current and new priorities in their roles, and the travel program metrics they are now tracking.

According to the report, travel managers largely expect most types of business travel to reach pre-pandemic levels by the end of 2023, including domestic business travel, external meetings, conference/group travel, and internal meetings. Few feel business travel will never return to pre-pandemic levels, underscoring its importance for companies regardless of travel type.

While most companies (64%) say they are unlikely to limit business travel, travel managers face the challenge of balancing cost savings with the traveller experience. Both travel managers (54%) and senior leadership (65%) prioritize cost savings, but travel managers rank traveller experience higher (51%) than executives (42%), making it more challenging to obtain buy-in to focus beyond costs. The study highlights the increased importance of addressing travel experience metrics, especially as business traveller preferences continue to evolve.

The pandemic has brought about a shift in the priorities of travel managers, with demands on their time and priorities growing. Travel managers must now address traveller needs, conduct data analysis, and balance cost savings with the business traveller experience. When asked which tasks they dedicate more time to now compared to before the pandemic, travel managers most frequently cite traveller communications/answering questions and overseeing their travel management company (TMC) relationship. They also spend more time on data analysis and risk management/traveller tracking. Few report they spend less time on key travel program components, demonstrating the growing complexity of managed travel programs.

Travel managers must collaborate with a number of stakeholders, the most commonly cited being finance/accounting, senior leadership/C-suite, and risk management/security. However, only three in five travel managers regularly share travel-related performance metrics with senior leadership, revealing an opportunity for more regular reporting to demonstrate the value of a managed travel program and travel managers.

Asked about their top TMC pain points, travel managers most commonly said agents/assistance, data analysis/reporting/dashboarding, and the ability of their TMC to deliver a “customized” travel program. Concerning their primary OBT, travel managers identify end-user/traveller experience, the ability to manage changes or cancellations, and innovation as key pain points.

In conclusion, the report from GBTA and Spotnana paints a positive outlook for the future of business travel. While challenges remain, including balancing cost savings and the traveller experience, travel managers are optimistic about the recovery of business travel and its importance to companies of all sizes and industries. As the world continues to navigate the post-pandemic landscape, the insights provided by travel managers will be invaluable to suppliers and other industry stakeholders as they plan for the future of business travel.

Sources:

• GBTA and Spotnana report: How Travel Managers Will Succeed in 2023
• Business Travel News: Report: Majority of U.S. Companies Expect Business Travel to Return to Pre-Pandemic Levels by Year End 2023.

Written by: Matthew Thomas

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