5 Major Trends Affecting the Corporate Travel Industry

Duty Of Care And Risk Management

Investment In Technology

  • Wearable technology — Smart watches and RFID tags (Radio Frequency ID) are just two ways corporate travellers can stay connected, track performance and monitor the whereabouts of belongings while on the road.
  • Online booking tools — Companies are going to contain the corporate travel booking, expense and reporting system in a controlled online environment, while providing employees with an easy-to-use platform and the freedom to make personal travel choices.
  • Smartphones, tablets and apps — More searches are performed on tablets and Smartphones than computers, so expect to see any travel related service (e.g. hotels, restaurants, car hire, etc.) invest heavily in app technology.
  • Digital wallets — We’ve just started to see the first glimpses of companies launching technology that allows credit card payments to be made with Smartphones (e.g. American Express and Apple Pay). Again, travel related services are likely to adopt this technology sooner rather than later.

Business And Pleasure

Travel Spend Reduction

  • Using budget airlines, or moving from business class to economy class.
  • Staying in lower star accommodation.
  • Using online booking tools that streamline the travel booking process, thus improving time efficiency and ensuring clearer transparency on expense claims.
  • Video conferencing where possible instead of travelling for meetings.

Research Into The Sharing Economy

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