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☆ 4 business-travel policies that can help employees avoid burnout and stay mentally well during a work trip
▼ + stars: | 2024-02-23 | by ( Mariette Williams | ) www.businessinsider.com time to read: +7 min

This article is part of "Business Travel Playbook," a series about making the most of work travel. During a business trip, employees are away from their families, their normal routines are disrupted, and they typically log in longer hours, which can be stressful. She said employers could ease the burden of business travel by allowing employees to take time off after a business trip to recover. Whether a work trip includes commuting to a nearby city or traveling to another country, business travel can be tiring. "It's important to be realistic about how much work travel you can endure and how much work you can realistically complete if your job requires frequent travel," Norfus said.

Persons: —, aren't, who've, they'd, Danielle Sabrina, Sabrina, Eric Snyder, Natalie Norfus, Norfus, Natalie E, Julian Buitrago, Ashlee Brennan, Brennan Organizations: Service, Business Travel Association, Employees, Employers Locations: AbsenceSoft

☆ 5 hotel perks that make work trips both fun and productive for business travelers
▼ + stars: | 2024-02-15 | by ( Mariette Williams | ) www.businessinsider.com time to read: +8 min

Strong WiFi, a business center, and food service are some of the recommended perks. This article is part of "Business Travel Playbook," a series about making the most of work travel. Business travel slowed significantly when the pandemic hit in 2020, but it's rebounding. Last year, the Global Business Travel Association predicted global business-travel spending would reach $1.4 trillion in 2024 . She makes a point to explore a destination on each business trip, she said — even if she's been there before.

Persons: —, Karen Mitchell, Jen Catto, Jill Johnson, Johnson, Samantha Drucker, Catto, Mitchell, Drucker, she's Organizations: Service, Global Business Travel Association, Business, Institute for Entrepreneurial Leadership, Puget Sound Locations: New York, Florida, New Delhi, India, Oakland , California, Seattle

A rebound in Asia is especially important for airlines where long-haul travel makes up a bigger mix of revenue. Travel spending in Asia Pacific is set to grow 41% this year to $567 billion, and rise to $800 billion by 2027, according to data from the Global Business Travel Association. The planned capacity, which has not been previously reported, is a strong rebound from 2022, when the carrier's Asia-Pacific traffic was 33% of 2019 levels. Travel to Asia is also a source of high-margin revenue at a time when soaring labor and fuel costs are pressuring profit and domestic fares are declining. Across the border, Air Canada said the increase in Asia Pacific capacity would more than double its overall system growth.

Persons: Toby Melville, Andrew Nocella, Mark Galardo, Galardo, Raymond James, Savanthi Syth, Allison Lampert, Rajesh Kumar Singh, Ben Klayman, Matthew Lewis Organizations: Heathrow Airport, REUTERS, Rights, Carriers, Business, Global Business Travel Association, Air, Reuters, United Airlines, American Airlines, Delta Air Lines, Asia Pacific, United, Delta, Tourism Economics, Thomson Locations: London, Britain, Rights MONTREAL, CHICAGO, Asia, Pacific, Europe, Asia Pacific, U.S, United States, Atlanta, Manila, Philippines, San Francisco, New Zealand, Chicago, Air Canada, Air Canada's Vancouver, Canada, North America, Ukraine, Hong Kong, East Coast, Newark , New Jersey, Toronto, China, Montreal

☆ Business travel spending is recovering quicker than expected. These are the stocks to buy right now
▼ + stars: | 2023-09-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

There have been some encouraging signs that business travel is rebounding to pre-Covid spending levels sooner than anticipated, according to the Global Business Travel Association . Business travel was essentially shut down during the Covid pandemic, with many predicting a slow slog to revive sales and a landscape that would be permanently changed. Now the organization is predicting global business travel spending will surpass its 2019 spending level of $1.4 trillion in 2024, compared with its earlier forecast of 2026. Some 28% of those who make the business travel decisions and 32% of those in charge of company travel budgets said their workplace will increase business travel in the coming year, Morning Consult found. Of course, the recovery in business travel can also shift if there are changes in the economic environment.

Persons: Lindsey Roeschke, Roeschke, That's, Michael Linenberg, Linenberg, Patrick Scholes, Scholes, — CNBC's Michael Bloom Organizations: Global Business Travel Association . Business, Morning, Deutsche Bank, CNBC, American Airlines, Delta Air Lines, United Airlines, Ryman Hospitality Properties, Ole Opry, Hospitality, Hyatt Hotels Locations: Delta

REUTERS/Kamil Krzaczynski/File PhotoJan 18 (Reuters) - New York excavation contractor Brian Dietz does not view higher air fares as a deal-breaker for flying and airlines are seeing more small and medium size companies like his feeding a 2023 rebound in business travel. Although business travelers often book economy seats, corporate travel is critical for airlines because it means more frequent flyers and appetite for higher-margin premium fares. SME executives were some of the first business travelers back on planes after the pandemic-induced slump. They have since emerged as the fastest-growing segment within corporate travel according to Amex GBT. Spending on business travel globally is expected to recover to 80% of 2019 levels in 2023, up from 65% in 2022, according to the Global Business Travel Association (GBTA).

Airfares from China are now 160% higher than before the pandemic, data from travel firm ForwardKeys shows, due to limited supply. Since Jan. 4, Air China (601111.SS), Hainan Airlines (600221.SS) and China Southern Airlines (600029.SS) have filed schedules with the U.S. Department of Transportation proposing to increase flights to as much as daily on some routes. Foreign carriers seeking to add flights to China require approvals from the Civil Aviation Administration of China, which did not respond to a request for comment. However, other flights were paused as it assessed market demand and government regulations. Many Western airlines parked large planes when international traffic plunged and production of new twin-aisle jets has been limited.

☆ Economic worries loom over U.S. airline earnings
▼ + stars: | 2022-10-12 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +4 min

Travel demand tends to cool after Labor Day, which marks the unofficial end of the U.S. summer season. Britain's biggest airport, Heathrow, on Tuesday warned of a possible slowdown in travel demand this winter. As companies call their employees back to office, business travel demand has received a boost. Prior to the pandemic, business travel accounted for up to 50% of the U.S airline industry's passenger revenue, according to trade group Airlines for America. "We're looking at business travel," Christopher Raite, senior analyst at Third Bridge, said.

☆ Business travel spending might not return to pre-pandemic levels until 2026
▼ + stars: | 2022-08-15 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Business travel spending might not recover to pre-pandemic levels until sometime in 2026 — two years later than previously expected — as inflation, labor shortages and geopolitical issues slow the sector's rebound, according to a new industry forecast. Spending worldwide is set to rise nearly 34% in 2022 to $933 billion, according to the Global Business Travel Association's annual report and forecast, published Monday. That's still far short of the more than $1.4 trillion in business travel generated in 2019, before the Covid pandemic. The report forecast a 42% increase in business travel spending in the U.S. this year from 2021, to nearly $213.4 billion. U.S. airline and hotel executives have touted a return of business travelers this year after many companies put trips on hold during the pandemic.

☆ Business travel costs are expected to rise through 2023, industry report says
▼ + stars: | 2022-08-10 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

The cost of business travel, from hotels to airfare, is set to rise through 2023 as demand returns more than two years after the Covid pandemic began, according to an industry report published Wednesday. Business travel airfare is on track to rise nearly 50% this year over 2021, following two years of steep declines, according to a report from travel management company CWT and the Global Business Travel Association. Airline and hotel executives have been upbeat about a return to business travel after Covid-19 and measures to curb its spread, like travel restrictions, forced companies to put many work trips on hold. While leisure travel has roared back from 2020 pandemic lows, business travel has lagged, depriving hotels and airlines of an important source of revenue. That's despite concerns about a slowing economy, travel industry labor shortages and other headaches, as some large corporations seek ways to cut back on spending.

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