The corporate travel landscape is poised for a transformative ride in 2024 – from moderating hotel and air prices to the role of technology and our responsibility to the world. Our Amex GBT Consulting team created 4 Key Questions for Corporate Travel in 2024 highlighting the top trends – pricing, technology, the future of work, and corporate responsibility – that will shape the global business travel industry defining how we work and travel in the upcoming year.
Four travel industry trends shaping managed travel and meetings include:
- Pricing – While hotel prices will moderate compared to the last two years, they’re still forecast to increase around the world as air fares continue to stabilize. This could affect business travel spending and future itineraries. Expect prices to be impacted by demand, staffing, and economic conditions over the next year.
- Technology – Perhaps the most talked about technology in 2023, artificial intelligence (AI), is already hard at work in the travel sector. And its potential role in business processes is only beginning to be tapped. Expect to see rapidly growing use of AI technologies across travel management which may also include new apps and integrations as we move through 2024.
- Future of Work – The shift to new ways of working can make it challenging to create a strong organizational framework. Explore how the ebb and flow around workplace patterns will continue to reinforce the role of travel and meetings by connecting people in person. Face-to-face interactions go a long way in supporting company culture by unlocking many benefits for an organization.
- Corporate Responsibility – Corporate responsibility and sustainable travel initiatives will remain front and center, accompanied by a rising emphasis on measuring, managing, and reducing carbon offsets associated with business trips. The overarching objective is to continue making a positive environmental impact through new and changing behaviors when it comes to corporate travel programs.
Learn more about the trends shaping the future of corporate travel and meetings, and sustainability.
For a more comprehensive look at the 2024 outlook for air travel, hotels, and meetings and events, consider our Air Monitor, Hotel Monitor, and Global Meetings and Events Forecast to help set your company up for success in the year ahead.