Benson Tang, executive director, Corporate Travel Community (CTC), discusses corporate travel recovery in 2022, opportunites, challenges and his industry wishlist.
What is CTC’s outlook for the coming year as more borders open and the fully vaccinated can travel quarantine-free travel?
CTC is cautiously optimistic about corporate travel recovery in 2022. With global vaccination percentage rates continuing to increase and the availability of medicine targeting Covid-19 patients gradually coming to the market, I think the worst has already passed.
Having said that, the continuous mutation of the virus – such as the Delta Plu, Mu, and Omicron variants – remains the biggest uncertainty in 2022.
What must travellers consider if they are willing to go on a business trip and what resources can travel managers turn to to keep up-to-date?
Let me use Singapore’s change of Covid-19 national strategy from “zero tolerance” to “living with Covid” as an example. The consequence of this policy has resulted in the immediate opening of its border. But infections rose to an unprecedented record high, with more than 5,000 cases per day reported, forcing the government to tighten some restrictions. In my view, the pendulum effect will still be felt in 2022.
CTC continues to engage travel manager members and share new knowledge. I was in Shanghai to host the Travel Smart Conference at the Radisson Collection Hotel, Yangtze Shanghai, on November 30, 2021, where more than 100 participants attended.
On December 7 and 8, 2021, CTC hosted the Corporate Travel Summit at Royal Randwick Racecourse in Sydney.
In the event that physical events are not possible, CTC will continue to run our virtual events. To help travel managers’ do their jobs better, virtual sessions on topics such as the new ISO 31030 on travel risk management, sustainability, etc., have been organised.
What are some key corporate travel trends to look out for in 2022?
Most of our members are telling us domestic travel has resumed. However, international corporate travel is “still sitting on the fence”. One point is clear though: with an increased use of event technology, training or internal meeting trips will be significantly reduced.
What are the opportunities for corporate travel recovery in 2022?
Many new international treaties facilitating freer trade have been reached, such as the RCEP (Regional Comprehensive Economic Partnership), CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific), EU/China CAI (CU-China Comprehensive Agreement on Investment), and more.
With implementation starting in 2022, international trade is forecast to continue to expand at a rapid pace in years to come. And as we all know, corporate travel is the paramount prerequisite to negotiating business deals.
Some countries adopting a “living with Covid” policy have already opened their borders. The US, the second-biggest corporate travel spend country, for example, is showing an upward trend for both domestic and international travel.
