CORPORATE travel has long been an important cornerstone of the travel industry, signifying a large revenue stream for its industry players. The boon and bane of the industry is dependent on a multitude of factors, the most significant being oil prices and the safety of travel.
However, as we progress towards an increasingly global economy, corporate travel has become inevitable. As such, it is vital for organisations to equip themselves on the latest corporate travel trends in order to make informed decisions before embarking on their next destination.
Mild turbulence
In light of the economic slowdown in 2016, the Global Business Travel Association (GBTA) predicts a 12 per cent growth in total business travel spend in 2016, a decrease from the 14.2 per cent experienced in 2015 .
However, the Asia-Pacific region is experiencing a boom. China is expected to overtake the US and clinch pole position in terms of business travel spending in the 2016. Closer to home, Singapore is set to register a higher growth for its business Ttavel and MICE industry. The Singapore Tourism Board has also decided to extend its In Singapore Incentives & Rewards (INSPIRE) programme to Europe and North America in a bid to attract the anticipated rise in international outbound travel.
Business or pleasure?
The rise of Bleisure is the latest trend to take hold of this industry. The portmanteau Bleisure, refers to the mixing of business with leisure. As a perk to business travellers, companies have recognised the benefits of accommodating employees to travel with their families during corporate trips, at the expense of the employee. Coupled with the increasing use of technology to manage their business travel, employees are beginning to better integrate their work-lives, instead of merely trying to achieve a balance of two separate entities.
Duty-free not
Conventionally, an employer is legally obliged to educate their staff on the inherent risks in business travel. However, the rise of Bleisure travel has blurred the distinction between work and leisure, raising new issues in the area of Workplace Safety and Health (WSH). Until companies can strike a balance between Bleisure and WSH, they will have to be mindful in giving their employees more leeway.
Technology take-off
Technology has disrupted every aspect of our lives, including business travel. Today’s business travellers have the world at their fingertips; once their itinerary is booked, they are able to access a plethora of information and real-time updates that will help make their trip a seamless experience. Along with the rise of Bleisure, technology allows business travellers to be more productive, ranging from the ability to make real-time expense claims, to immediately reacting to unforeseeable circumstances at their destinations.
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Bertrand Saillet is the general manager of FCM Travel Solutions, responsible for the South-east Asia region. As a veteran in the travel and technology industry, Saillet brings with him a wealth of extensive knowledge and experience. He is tasked to take FCM to the 3.0 travel management sphere – making sure the company delivers amazing travel experience and meeting the needs of all travellers across all generations.
Prior to joining the FCM family, Saillet held various management positions with Amadeus.
Article by Bertrand Saillet
