From globalisation to big data, listed here are five trends that may influence travel management company now and to the future…
With business becoming globalised and surpassing national lines more than ever before, the necessity to bring geographically disparate teams, customers and stakeholders together is on the rise.
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 like a key influence over their travel programme, with increased trips expected throughout every season.
It is essential to remember that other variables 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 to the travel market.
Higher travel prices are expected, making finding efficiencies even more important
An overall total of 41 percent of travel managers surveyed from the 2016 ITMS believe the costs of travel will rise this season. In a few of the largest Western economies, including the USA, Germany and UK, the ratio of people expecting to pay more versus those expecting to cover less is about 5:1.
Rising costs indicates an increased focus on finding cost efficiencies. We expect that travel managers will appear at total trip costs to discover savings, instead of working on individual trip segments. So for example if a room includes a lower rate, nonetheless its location means higher ground transportation costs, any savings will be lost. By checking out the costs of travel holistically, travel managers can gain greater transparency on costs and maximise savings. Additionally, the availability of new travel management tools and centralised payment solutions are assisting both travel managers and treasurers to lower processing time and gain efficiencies.
Big data will offer travel managers more info concerning their travellers than previously
26 percent of travel managers surveyed within 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 gives them unparalleled usage of details about traveller preferences and behaviour, and travel costs, helping shape their decisions. However this data only is a benefit to travel managers, if they have the essential tools to integrate data 53dexqpky their own systems. Only then would they use the data to report, coordinate and also negotiate with suppliers.
Around the flipside, however, suppliers selling to travellers directly have access to similar information. This generates a potential data privacy problem for travellers and corporations.
For travel managers, the easiest-growing major trend is data security. An absolute of 54 percent surveyed through the 2016 ITMS identified data security like a key concern.
With good 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 on a trip, that you have risks linked to travelers’ personal data being handled by providers which any data at their disposal also must be kept safe.
Eco-friendly travel is a growing priority
By using a growing knowledge of environmental and sustainability concerns, eco-travel has changed into a priority. The 2016 ITMS said that 29 % of travel managers identified eco-travel like a concern. Companies are under increasing pressure to minimize emissions and subsequently may choose to reduce air travel or select carbon neutral options.