From globalisation to big data, allow me to share five trends which will influence travel management now and in the future…
With business becoming globalised and surpassing national lines more than ever before, the desire to bring geographically disparate teams, customers and stakeholders together is rising.
The AirPlus International Travel Management Study (ITMS) 2016 shown that globalisation is amongst the major trends affecting corporate travel. 52 percent of travel managers surveyed identified globalisation being a key influence over their travel programme, with increased trips expected throughout the year.
It is essential to remember that other factors like price, the flattening Chinese economy, falls in commodity prices and concerns about carbon emissions, may offset the impacts of globalisation, ultimately causing mixed expectations for that travel market.
Higher travel costs are expected, making finding efficiencies even more important
An overall of 41 percent of travel managers surveyed within the 2016 ITMS believe the expense of travel will rise this current year. In a number of the largest Western economies, like the USA, Germany and UK, the ratio of the expecting to pay more versus those expecting to spend less is just about 5:1.
Rising costs will mean an increased concentrate on finding cost efficiencies. We expect that travel managers will look at total trip costs to get savings, rather than working on individual trip segments. So by way of example if a room has a lower rate, however its location means higher ground transportation costs, any savings is going to be lost. By exploring the costs of travel holistically, travel managers can gain greater transparency on costs and maximise savings. Additionally, the accessibility of new travel management tools and centralised payment solutions are assisting both travel managers and treasurers to lessen processing some time and gain efficiencies.
Big data can give travel managers more information with regards to their travellers than in the past
26 % of travel managers surveyed in the 2016 ITMS felt that big data was learning to be a key influence inside the travel market. What impact will big data have?
For travel managers, the ability to access large datasets on their own travellers offers them unparalleled usage of information regarding traveller preferences and behaviour, and travel costs, helping shape their decisions. However this data only is a help to travel managers, should they have the desired tools to integrate data 53dexqpky their own personal systems. Only then would they take advantage of the data to report, coordinate and even negotiate with suppliers.
In the flipside, however, suppliers selling to travellers directly gain access to similar information. This produces a potential data privacy problem for travellers and corporations.
For travel managers, the quickest-growing major trend is data security. A total of 54 percent surveyed from the 2016 ITMS identified data security as a key concern.
Rich in profile data breaches, and concerns over corporate espionage and state sponsored surveillance, data security has changed into a high priority.
Travel managers are mindful that confidential company data carried by business travellers must remain secure while traveling, that there are risks related to travelers’ personal data being handled by agencies which any data at their disposal must also be kept safe and sound.
Eco-friendly travel is a growing priority
Using a growing understanding of environmental and sustainability concerns, eco-travel has changed into a priority. The 2016 ITMS revealed that 29 percent of travel managers identified eco-travel being a concern. Companies are under increasing pressure to lower emissions and subsequently may opt to reduce air travel or select carbon neutral options.