Predictions for a Corporate Travel Rebound in 2022
The New Normal for Corporate Travel in 2022: Here’s What to Expect
Business travel took a major hit during the COVID-19 pandemic. Many businesses did away with in-person corporate business meetings, opting for video and conference calls in an effort to slow the spread of COVID-19. In fact, at the peak of the pandemic, according to the World Tourism Organization (UNWTO), North American corporate travel spending dipped down over 70%.
There is, however, no doubt that face-to-face business interactions are beneficial. Client meetings lack the same charm that they once did, and conference calls are simply not the same as compared to the real thing. Beyond client meetings, things like trade shows, training programs, and recruitment efforts benefit greatly from corporate travel. Traveling abroad can help businesses expand their reach, connect with prospective employees, and help staff develop as professionals. Corporate travel is primed for a major comeback in the second quarter of 2022 as COVID restrictions are loosened, and life slowly returns to normal.
Corporate Travel: The Rise of Bleisure Travel
Young and agile workers are eager to head back into the field and get up close and personal with their clients and coworkers. In 2022, expect the business travel industry to speak to the needs of corporate travelers who wish to blur the boundaries of work-life and stay longer, work remotely, and provide accommodations that feel much more “homey” than a standard hotel room.
Corporate Travel Flexibility
Flexibility continues to be paramount for corporate and all international leisure travel. Accept nothing less than complete flexibility for accommodations, flights, and other travel bookings. Flight cancelations are on the rise across North America, and corporate travelers should seek out offerings that allow full reimbursement in the event of a sudden cancelation. The uncertainty of international travel should be reflected in cancelation policies, allowing for a refund in case of a lockdown or the emergence of complicated travel restrictions.
The same goes for travel insurance policies, as “cancel for any reason” allows increased flexibility and peace of mind knowing that you will be covered for canceled trips and lost luggage. Some travel insurance policies may not reimburse travelers if they are afraid to travel. Carefully read the fine print of your travel insurance policy to ensure that you can cancel your trip under any circumstance.
Corporate Travel and Advanced Software and Technology
Even with rising vaccination numbers across North America, COVID-19 still presents hurdles and complications to corporate travelers. Variants can prompt travel restrictions, lockdowns, quarantines, and even the cancelation of trade shows and client meetings. Expect corporate travelers to require travel products that speak to the uncertainty and risks associated with international corporate travel. Real-time updates, live travel tracking, and 24/7 assistance is expected to be the new normal for corporate travelers.
Corporate travel managers will see great benefits in travel tracking and smartphone technology that can ensure the safety of their workforces during international travel. In fact, real-time data improves the security of corporate travelers and ensures that their trips are free from delays related to testing requirements, proof of vaccination, and any other complicated barriers from crossing international borders.
Corporate Travel and CAP, Powered by FocusPoint International
Travel managers and corporate travelers now have CAP on their side to address the many complications tied to travel in 2022. There is no better tool available for the corporate travel industry that speaks to the ever-changing nature of international travel, offering real-time data and metrics that make a difference when traveling internationally. CAP is the perfect supplement to any travel insurance policy, helping address overlooked complications.
The CAP Assistance Plan offers unlimited 24/7 advice for a long list of travel mishaps often overlooked by traditional travel insurance, including COVID quarantine cost coverage. It also provides a fully-funded response to incidents of riots, strikes, civil commotion, and natural disasters, with medical evacuation to a home hospital of choice, should you suffer from a medical mishap resulting in hospitalization.
Contact us directly to learn more about available solutions for international corporate travelers.