Global Biz Travel Needs to Brace for a Slower 2020

Skift | August 02, 2019

The current Brexit deadline is set for Oct. 31, and it may finally provide some sort of resolution to a debate thats been up in the air for over three years. Of course the uncertainty isnt going to end just because a final decision has been made. The UK may be undergoing a massive adjustment, and no ones quite sure what exactly the future will look like.Meanwhile, there is the ongoing trade war between the U.S. and China, which is having major global ramifications. With everything that’s going on, its no wonder companies are becoming more cautious when it comes to corporate travel. People are looking for a sense of stability before making commitments, meaning 2020 may be a slow year in the business travel world.

Spotlight

The tourism industry, with travel and hospitality as two of its major components, is no longer the same as it was. Consumer behaviors toward tourism have significantly changed, influenced by the desire for safety and social contact and the accelerated shift to digital. Travel planning now happens with just a few clicks — from selecting a travel location and checking safety protocols to receiving information on flights and lodgings. For businesses, this means tougher asks from customers
and greater competition for wallet share, especially as digital evens out the playing field between small and large companies.

Spotlight

The tourism industry, with travel and hospitality as two of its major components, is no longer the same as it was. Consumer behaviors toward tourism have significantly changed, influenced by the desire for safety and social contact and the accelerated shift to digital. Travel planning now happens with just a few clicks — from selecting a travel location and checking safety protocols to receiving information on flights and lodgings. For businesses, this means tougher asks from customers
and greater competition for wallet share, especially as digital evens out the playing field between small and large companies.

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