Business travelers and corporate-travel decision-makers believe they need face-to-face meetings to benefit professional and business growth, and they're eager to get back on the road, according to a new report from American Express and American Express Global Business Travel. The new Back to Blue Skies study is based on a survey of more than 1,000 business travelers and more than 500 decision-makers. Crucially, the managers are already taking action: In the past month, two-thirds of GBT customers have eased travel restrictions.
“Over the last year, we’ve heard from our clients, which range from small and mid-sized businesses to large and global corporations, that in-person connections cannot be replicated,” said Gunther Bright, executive vice president of global commercial services at American Express. “Our Back to Blue Skies report affirms this sentiment, suggesting that while some meetings are easily done virtually, others are much more valuable when they take place face-to-face. We expect many organizations will take a hybrid approach to doing business in the future, and we’ll continue to work to meet their needs as they return to business travel.”
Respondents affirmed the need for travel as an important element of doing business. Among the findings:
- 86 percent of business travelers said they are looking forward to traveling again when it becomes safe, and 83 percent of decision-makers are optimistic that business travel volume will return to previous levels over the next two years.
- 69 percent of decision-makers said the increase in remote employees will drive increased business travel.
- 85 percent of decision-makers said business travel leads to both higher profits and revenue.
- 82 percent of travelers said that getting on the road helps them perform their jobs better and 83 percent said it makes their jobs more fulfilling, while 88 percent of all respondents said it broadens cultural understanding.
- 87 percent of decision-makers said travel reinvigorates employee engagement.
- Decision-makers said business travel is essential to attract (84 percent) and retain (83 percent) top talent.
Of particular interest to planners is evidence that connecting virtually is not really satisfying our business-meeting needs. Findings include:
- Virtual will never take the place of in-person meetings, said 79 percent of the business travelers and 77 percent of the decision-makers.
- The benefits of in-person meetings outweigh the convenience of virtual, according to 82 percent of the business travelers and 79 percent of the decision-makers.
- Establishing effective business relationships has been more difficult since the pandemic began, said 60 percent of the business travelers and the 63 percent of decision-makers.
It's important to add that even as respondents are eager to return to business travel, they are expecting to do so differently. Nearly eight in 10 of decision-makers (78 percent) indicated their travel policies will be different from before the pandemic. Part of that is out of concern for the planet: More than half of decision-makers (56 percent) and travelers (53 percent) said it is important for their organizations to prioritize travel suppliers that invest in sustainability.
