Business

Is this the end of business travel?

To date, business travel or business travel has been the key to making the major deals. However, with the advance of the pandemic, these have been relegated by videoconference. Does that mean the end of business travel is near? Aervio says that although during Covid-19 business travel has suffered a drop of 95%, it is expected that these will reach pre-crisis levels within a few years, more specifically in 2023.

Industry confidence

For this to be possible, the key, according to experts, is in the industry’s confidence in companies and employees before and during travel. By following, for example, the corresponding health and safety protocols.

According to Aervio CEO Santiago Montero, although the crisis has halved the number of corporate trips and events, they will not go away completely. Remember that business travel is “essential” to making some deals, which is “more difficult” to seal by videoconference.

Recovery in 2023

Montero is optimistic because, despite the decline in business travel after the pandemic, at the end of September they saw some recovery, although they have not yet reached pre-crisis levels. According to the data at their disposal, in 2019 alone, the investment volume of business travel amounted to 12,800 million euros, a figure that was not reached in 2020.

Still, he says many companies are already resuming business travel. “After childbirth, the increase in travel bookings was seen in just a few weeks, which presents a favorable outlook for the coming months,” he said.

In this sense, the company expects the volume of international and domestic travel to increase throughout 2021 and recover in the months to come. They are convinced that these can be consolidated in 2022 to return to pre-crisis levels in 2023.

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