The corporate travel landscape has been through a significant transformation in the past few years. Environmental concerns, a global pandemic and changing working patterns have all shifted the way we view travelling for business, but that doesn’t mean it’s any less important.

In this article, we discuss why corporate travel is still as important as it’s ever been and how you can get the process right going forward.

Corporate travel statistics

Astonishingly, 1.3 million people travel for business every day in the US alone. It’s a fundamental aspect of working life and one that contributes significantly to state, national and global economies.

However, as many as 60% of people are taking fewer business trips compared to pre-pandemic, which is a staggering figure. But the US is still the biggest corporate travel spender in the world by far, with $269.3 billion spent in 2021.

Why is corporate travel important?

Corporate travel helps to get business done. While the world has turned more towards digital communications and teleconferencing, the power of face-to-face is still incredibly important.

Leaders and executives in many sectors still recognise the potential benefits of in-person meetings, events and work environments. They help to build stronger relationships, boost trust and enhance networking and communication.

Up and down the hierarchy, travelling on behalf of a business can facilitate everything from sales calls to client meetings and top-level strategy planning. Transport and accommodation types may differ depending on the person travelling, but the outcomes can be just as important for success and growth.

How to maximize travel effectiveness and efficiency

Getting corporate travel right is tricky and involves a lot of planning. There are so many factors to consider and outcomes to secure. Here are some guiding tips to help your company travel better:

• Time is money – Keeping an eye on travel costs is important, but if you’re wasting time then you’re pretty much wasting money – especially as an executive or business leader. In some cases, opting to rent a private jet rather than fly commercially saves time which you can put to good use in maximising travel plans and returns on investment.
• Reserve room for downtime – Corporate travel can be tiring, so it’s important to ensure you and your employees get a chance to relax. It can help to improve performance while away and maximise returns for the business. The rise of “bleisure” travel is a clear indicator that making time for both leisure and business is the way to go.
• Trust travel partners – Finding the right partners takes a lot of the hassle out of travel management. A good company should be able to meet your most important needs, whether that’s cost-effectiveness or flexibility. With travel bookings taken care of, your company can focus on what it does best.