From globalisation to big data, listed here are five trends which will influence corporate travel services now and in the future…
With business becoming globalised and surpassing national lines more than ever before before, the necessity to bring geographically disparate teams, customers and stakeholders together is rising.
The AirPlus International Travel Management Study (ITMS) 2016 stated that globalisation is among the major trends affecting corporate travel. 52 percent of travel managers surveyed identified globalisation being a key influence over their travel programme, with more trips expected throughout every season.
It is very important note that additional factors like price, the flattening Chinese economy, falls in commodity prices and concerns about carbon emissions, may cancel out the impacts of globalisation, ultimately causing mixed expectations to the travel market.
Higher travel prices are expected, making finding efficiencies more important
An absolute of 41 per cent of travel managers surveyed within the 2016 ITMS believe the expenses of travel will rise this year. In some of the largest Western economies, such as the USA, Germany and UK, the ratio of people expecting to pay for more versus those expecting to pay for less is around 5:1.
Rising costs will mean a better give attention to finding cost efficiencies. We expect that travel managers will be at total trip costs to discover savings, rather than working on individual trip segments. So for example in case a room has a lower rate, but its location means higher ground transportation costs, any savings will be lost. By looking at the costs of travel holistically, travel managers can gain greater transparency on costs and maximise savings. Additionally, the accessibility to new travel management tools and centralised payment solutions are assisting both travel managers and treasurers to lower processing time and gain efficiencies.
Big data will give travel managers more info about their travellers than previously
26 % of travel managers surveyed in the 2016 ITMS felt that big data was being a key influence from the travel market. What impact will big data have?
For travel managers, having access to large datasets on their own travellers gives them unparalleled access to specifics of traveller preferences and behaviour, and travel costs, helping shape their decisions. However this data only turns into a advantage to travel managers, in case they have the necessary tools to integrate data 53dexqpky their own systems. Only then would they utilize the data to report, coordinate and even negotiate with suppliers.
Around the flipside, however, suppliers selling to travellers directly have accessibility to similar information. This results in a potential data privacy problem for travellers and corporations.
For travel managers, the easiest-growing major trend is data security. An absolute of 54 percent surveyed with the 2016 ITMS identified data security like a key concern.
With good profile data breaches, and concerns over corporate espionage and state sponsored surveillance, data security has turned into a high priority.
Travel managers are mindful that confidential company data carried by business travellers must remain secure while on a trip, that you have risks related to travelers’ personal data being handled by providers and that any data at their disposal also must be kept secure and safe.
Eco-friendly travel is really a growing priority
With a growing understanding of environmental and sustainability concerns, eco-travel has turned into a priority. The 2016 ITMS shown that 29 % of travel managers identified eco-travel like a concern. Companies are under increasing pressure to minimize emissions and subsequently may opt to reduce air travel or select carbon neutral options.