2 min read. September 21, 2021 – by Joe Camberato
Travel numbers have increased from a year earlier, but many U.S. companies are cautious about returning to business travel. That was one of the key findings from a recent survey by the travel analytics firms OAG.
During July and August, OAG surveyed over 1,800 U.S. travelers about how their travel habits have changed in light of the pandemic. The results showed that during the summer months, travel was up 81% from a year earlier.
And 70% of consumers had booked a flight for the upcoming year. But many business travelers told a different story, with only four in 10 anticipating that business travel will return to pre-pandemic levels.
During the pandemic, corporate travel took a massive hit, and most companies saw their travel budget drop by 90%. Most businesses restricted travel to only essential trips, and many people opted to drive instead of fly.
Most experts do expect business travel to increase during the second half of 2021. Conferences and trade shows, which were mostly virtual, have started to offer in-person options.
And slowly, some businesses have begun to reopen their offices both for their employees and clients. Travel will likely continue in the case that in-person interaction is required to support client relationships.
Overall, the OAG survey found that business travel will resume, but many people expect it will be less than what they did before the pandemic. Here is what business travelers expect to see in the coming year:
The Center for Disease Control (CDC) recommends that companies delay business travel. So it’s a good idea to delay or minimize any non-essential trips.
But if business travel is an essential aspect of your business, then it may not be entirely feasible for you to delay travel altogether. Here are some travel recommendations your employees should follow:
In addition, it’s a good idea to regularly review and update your company’s travel policies in accordance with the CDC’s guidelines and federal travel restrictions.
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Joseph Camberato, CEO of National Business Capital, developed a passion for business at a young age. Joe started his company in 2007 in his spare bedroom and has grown to secure over $1 Billion dollars in financing for small business owners nationwide. National’s team has an amazing culture and has been name the #1 Top Workplace on Long Island 3 years in a row and counting. Joe is a trusted financial expert who’s published more than 2,000 articles in the last 3 years. His articles have generated over 5 million page views and has been featured on blogs such as Google News, Yahoo, CNBC, Forbes Magazine, etc. His passion has also inspired him to build the "GrowByJoe” YouTube channel where he shares his insights into small business trends and tips for growth. Joe also holds a seat on Forbes Finance Council and is an active member of the Young Presidents' Organization (YPO), a global leadership community.
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