You would have thought that the combination of videoconferences / 5G / fight against climate change, would drastically reduce business traveling. Well, not at all! Worldwide business travel expenses will reach $ 1.7 billion in 2020! So there’s to be more traveling?
The majority of business travellers are for it, but on one condition: in 2020 they want to travel better.
Three conditions for better traveling in 2020
The under 40s make up more than a third of business travelers. Their collaborative spirit as well as their thirst for development motivates them to travel for their profession. But beware.
It comes at a price! The millennial traveler * has three conditions: the traveling experience, the profitability and the bleisure moments.
• Worry-free travel: an optimal travel experience requires fluidity, minimized waiting times and optimal security. Everyone in the business is aware of this. Supported by the digital and AI, they work together on smart solutions that fully meet the expectations of the Y and Z generations*.
• Travel at the right price: modern travelers are concerned by the cost of their journeys. They want to improve the profitability of their business trips by choosing independent hotels and economical flights. It’s little wonder when you know that 24 hours in the 10 most expensive cities in the world costs between 580 and 800 dollars. Startups are undoubtedly at the origin of this new way of thinking, which encourages young travelers to practice self-booking. Millennials shun travel policies in favor of cheaper accommodation.
• No business without leisure: it is no longer a surprise; millennials ensure a balance between their personal and professional lives. This is how Bleisure travel came along, which consists of indulging in a bit of enjoyment during a business trip. Evenings out, gastronomic discoveries, cultural activities, sport and wellness moments are now an integral part of business travelers' timetables.
2020’s business travelers in figures **
• 26% work in the technology sector
• 38% are part of the millennial generation
• More than 50% plan to extend their business trips with leisure activities
• 63% practice self-booking
• Over 66% consider that professional travel is a source of fulfillment and enrichment
• 74% have already booked Airbnb type accommodation for their business trips
Always on the lookout for new trends and smart solutions for business travelers, the Kabuto team fully encourages this new way of traveling.
And you ? Whether you are more X, Y or Z, do you recognize yourself as a modern day business traveler?
* The Y generation was born between the early 1980s and the mid-to-late 1990s. Its
members are often referred to as "millennials" because the oldest among them completed their education at the dawn of 2000.
Members of the Z generation were born after the late 1990s. They grew up with the Internet and did not experience the September 11 attacks.
**Source : FinancesOnline - 10 Future Business Travel Trends & Predictions for 2020 and Beyond
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