Business Travel Trends 2018
The first month of 2018 is almost over and the conference seasons has started already. CES and FITUR already showed us trends on the consumer side of technology and travel and next month the Business Travel Show will present the newest Business Travel Trends 2018. Apart of showcasing the newest services of the big players in the business travel industry, as well it gives away the Business Travel Disrupt Award to the most disruptive startup in the industry. Thus, it is a key conference in terms of innovation.
The Business Travel Trends 2018 includes facilitating in-person meetings
Business travel spending will keep on increasing in 2018. It is expected that companies will spend in average around 6% more on travel costs than in 2017. That does not mean that travel per se became more expensive, it rather means that more travel will be done this year. More flexible working schemes with employees working from home, more distributed teams across the globe and a better understanding of the importance of in-person meetings is driving this key business travel trend 2018. While air travel costs, for example, is only expected to increase by about 1.6% this year.
Bitcoins and blockchain will transform the business travel sector. Those new technologies have specifically raised interest of business travel industry players due to its impact on eliminating cross-border payment issues as well its expected impact on speed and transparency of international transactions. American Express, for example, just announced its push towards providing real time payment processing. The proper application of these technologies is among the key business travel trends 2018.
The sharing-economy becomes mainstream business travel providers. Uber, Airbnb and other sharing economy market leaders, will be more important to business travelers. A proper integration into business travel management platforms will give travelers a different experience feel when on a business trip. Airbnb, for example, already provides great support to corporate group travel. Small teams prefer to come together in inspiring and unique places when meeting for strategy sessions rather than trying to find inspiration in a standard meeting room setup in hotels.
Co-working places are the new offices. Business travelers will be more on the road and spend as well more time alone. Technology allows us to work from anywhere. Co-working places will be natural stops for business travelers while on the road. Due to their global availability they are of great service when you need a fully-equipped office space for a few hours or a meeting room within a vibrant environment.
Artificial intelligence will help to reduce waiting times while traveling. The expectations towards the impact of artificial intelligence on travel is high. Especially, when it comes to service provision of any kind. Travelers will expect that intelligent systems will give intelligent recommendations. Imagine a booking platform which only provides you one recommendation for location, flight and accommodation option and it always proposes options you love. This will be the power of AI at one point. It will know you and your preferences better than yourself. Thus, AI is with no doubt part of the Business Travel Trends 2018.
What are innovations in business travel you would be looking forward to? Share them with us!