As restrictions ease globally, built-up anticipation for business travel is clear, with 81% of global leaders indicating that business travel will be more important than ever to driving success, according to new research from VistaJet and WSJ Intelligence.
This was derived from new research entitled For The Future of Business Travel, which surveyed over 200 high-level company executives in the US, EMEA and APAC about the essential role and value of travel in their professional lives.
During the pandemic, travel has been limited for 90% of companies surveyed, and almost all (97%) said their businesses experienced negative impact directly related to those restrictions. Nearly one-quarter (24%) indicated massive or substantial disruptions across all eight areas measured, and 87% cited massive or substantial disruption in at least one area. More than a third (37%) said international business development and product launches took a hit due to a lack of in-person presence.
VistaJet has seen a surge of 49% in corporate interest around the world since the start of the pandemic. The main benefits of taking private flights for business travel are reported by those surveyed, in order, as flexibility, efficiency, safety and privacy. The two top priorities for trips are visiting partners and vendors and going to industry events, each at 34%. Managing current relationships and building new ones are also key drivers.
Among respondents who take eight or more private flights a year, 60% plan to significantly increase in-person meetings.
However, the return to business travel largely hangs on regulations â€“ 46% of respondents are waiting for destinations to reopen; 42% want updated Covid-19 data and rules for destinations; 36% seek support in case Covid-19 regulations change during a trip; and the same number await relaxation of their own companyâ€™s travel policies.
VistaJet has also recently launched a new corporate membership, offering speed and maximum flexibility with payment in arrears, unlimited flying hours, guaranteed availability of additional aircraft, and streamlined travel logistics.
For the full findings of The Future of Business Travel report, and to download a copy, click here.