Corporate Travel Trends: U.S. vs. Europe

whitePaper | November 2, 2022

Travel & Tourism (T&T) has enjoyed immense success over the past seventy years. By driving economic growth, shaping communities and connecting people worldwide, the sector has unlocked countless social benefits.Having grown rapidly since the 1950s, T&T took off in the 2000s withii the advent of affordable international travel. Today, it accounts for around 10% of global GDP and up to 70% of GDP in some countries (see Figure 2).Not surprisingly, T&T is now considered strategically important, both nationally and internationally.

whitePaper | July 28, 2022

Since before COVID-19, the tourism industry has been based offline for too long and has not been able to take advantage of the rapid trend of online entry, making it difficult to respond to the rapidly diversifying travel needs of consumers. In addition, it was an industry that did not actually have a large operating profit even though sales were large due to chronic low margins and returns. However, as the COVID-19 pandemic hit directly, the travel industry began to collapse helplessly regardless of size. However, companies that need to make a comeback somehow are looking to respond to the new era while complementing their existing business models. And how can blockchain and virtual currency.

whitePaper | November 1, 2019

The world of business travel expenses can be a minefield: keeping track of all those invoices and receipts, especially if they come in at different times from different suppliers, some by email, some printed, and some even written out by hand, can be a challenging and time consuming process. In order to sort through the paperwork and ensure your accounts add up, you need to not only keep organised, but have clear guidelines in place for to what you can and cannot expense, as well as any budget limits.

whitePaper | February 15, 2022

The travel and expense paradigm, as we knew it, is being forced to change as it is be set with global socio-economic uncertainty and dramatic business model changes, including growth in digital-first models and remote working. Today’s finance departments must have the tools capable of helping users improve operational efficiency and enhance the employee/traveler experience even amid such swirling winds of change. As business travel is returning, finance leaders and travel managers will need to be open to upgrading their operational infrastructure.

whitePaper | May 10, 2022

The Travel & Tourism Development Index (TTDI) 2021 is an evolution of the 15-year-old Travel & Tourism Competitiveness Index (TTCI) series, a flagship index of the World Economic Forum’s Platform for Shaping the Future of Mobility. This revised index serves as a strategic benchmarking tool for policy-makers, companies and complementary sectors to advance the future development of the Travel and Tourism (T&T) sector by providing unique insights into the strengths and development areas of each country/economy to enhance the realization of sector potential and growth. Furthermore, it serves as a platform for multistakeholder dialogue to understand and anticipate emerging trends and risks in global T&T, direct policies, practices and investment decisions, and accelerate new models that ensure the longevity of this important sector.

whitePaper | June 1, 2022

As travel moves toward recovery, new forces will shape its futureThe COVID-19 pandemic disrupted several industries, but travel fell particularly hard and fast. US air passenger volume plummeted by more than 90% in March 20201and in April 2020 U.S. hotel occupancy dove to 25%.2 Travel showed its resilience when relief arrived in the form of vaccines. Pent-up demand surfaced quickly; Americans’ intent to make bookings doubled across most travel categories from February to September 2021.