Business Travel Trends in 2024: What to Expect
Business travel is evolving rapidly, and 2024 promises to bring exciting changes. At the Emerald Inn and Travellers Group, we’re closely monitoring the latest trends shaping corporate journeys.
From the rise of bleisure trips to sustainable practices and cutting-edge technology, the landscape of business travel is transforming. This post explores what to expect in the world of business travel 2024 and how these shifts will impact both companies and travellers.
Bleisure Travel Takes Center Stage
The landscape of business travel is undergoing a significant transformation, with bleisure travel emerging as a dominant trend in 2024. This shift reflects a growing desire among professionals to maximize their time away from home by combining work commitments with leisure activities.
Extending Business Trips for Personal Enjoyment
Corporate travel spend by U.S. companies is expected to grow between 8% and 12% to meet or exceed pre-pandemic levels by the end of 2024. This growth indicates a renewed enthusiasm for business travel, with many professionals opting to extend their stays beyond work obligations. For instance, a three-day conference in Sydney might now couple with a weekend exploring the city’s iconic landmarks or nearby beaches.
Work-Life Balance on the Road
The rise of bleisure travel ties closely to a broader focus on work-life balance. This trend allows professionals to recharge between meetings, potentially leading to increased productivity and job satisfaction.
Corporate Policies Adapt to New Realities
The growing popularity of bleisure travel prompts companies to reassess their travel policies. However, this shift brings new considerations for both employers and employees.
Accommodating Extended Stays
Hotels and accommodations (like Emerald Inn) notice an uptick in extended stays among business guests. To accommodate this trend, many properties introduce flexible booking options and partner with local tour operators to offer curated experiences for those looking to explore during their downtime.
Navigating the Bleisure Landscape
As bleisure travel continues to gain traction, it’s important for both travellers and companies to navigate this new terrain thoughtfully. Clear communication about expectations, expenses, and liability during the leisure portion of trips ensures a smooth experience for all parties involved.
The rise of bleisure travel marks just one aspect of the evolving business travel landscape. Most respondents (54%) like to plan these trips 3-6 months in advance, indicating a trend towards more thoughtful and planned travel experiences. Next, we’ll explore how sustainability practices are reshaping corporate journeys and influencing traveller choices.
How Business Travel Goes Green
Eco-Friendly Transportation Takes the Lead
The business travel sector now prioritises environmental responsibility. Companies opt for electric or hybrid vehicles for ground transportation. Some car rental companies report a 20% increase in electric vehicle rentals for business travellers in the past year. Train travel sees a resurgence for shorter distances, offering a lower carbon footprint compared to flying.
For unavoidable air travel, forward-thinking companies partner with airlines that use sustainable aviation fuel (SAF). SAF can be produced from various sources including waste oil and fats, green and municipal waste, and non-food crops.
Carbon Offsetting Strategies Gain Traction
Carbon offsetting has become a key strategy for businesses to mitigate their travel-related emissions. A recent survey by Deloitte reveals that 46% of companies now have strategies to assign travel emission budgets to teams. This approach reduces environmental impact and encourages more thoughtful travel planning.
Many airlines and travel booking platforms now offer integrated carbon offsetting options. Some major carriers allow travelers to purchase carbon credits directly during the booking process, supporting projects like reforestation or renewable energy development.
Sustainable Accommodations Rise in Popularity
The choice of accommodation plays a crucial role in sustainable business travel. A growing number of hotels and serviced apartments adopt eco-friendly practices, from energy-efficient lighting to water conservation measures.
When selecting accommodations, business travellers increasingly look for certifications like LEED (Leadership in Energy and Environmental Design) or Green Key. These certifications provide assurance that the property meets specific environmental standards.
For instance, Emerald Inn implements several green initiatives to cater to environmentally conscious business travellers. Their fully equipped kitchens allow guests to prepare their own meals, reducing reliance on single-use plastics often associated with takeout. Additionally, in-unit washer-dryers help minimise water and energy usage compared to traditional hotel laundry services.
As the business travel industry shifts towards more sustainable practices, the next frontier lies in leveraging technology to enhance the travel experience while maintaining these eco-friendly initiatives. Let’s explore how cutting-edge innovations are revolutionizing corporate journeys in our next section.
How Tech Revolutionises Business Travel
AI Travel Assistants: Your Personal Concierge
The business travel landscape transforms with AI-powered assistants. These smart platforms analyze travel patterns, preferences, and company policies to offer personalised recommendations. An AI assistant suggests flights that align with your preferred airlines, seating preferences, and loyalty programs while staying within company budget guidelines.
A recent study by Phocuswright reveals that 57% of travelers utilise social media for their trips. These assistants handle tasks like rebooking flights in case of cancellations, suggesting nearby restaurants that cater to dietary restrictions, and predicting potential travel disruptions based on historical data and current conditions.
Contactless Systems: Safety and Efficiency Enhancement
The pandemic accelerated the adoption of contactless technologies, which continue to shape business travel in 2024. Many hotels now offer mobile check-in and digital room keys, allowing guests to bypass the front desk entirely. Hilton reports that for 80% of global travelers, being able to utilise personal devices seamlessly with on-property technology, from Wi-Fi to streaming apps, is important.
Contactless payment systems have become ubiquitous. A survey by Visa found that 65% of travellers prefer using contactless payments while on business trips. This shift improves hygiene and streamlines expense reporting. Many corporate credit cards now integrate directly with expense management software, automatically categorizing and submitting expenses in real-time.
Virtual and Augmented Reality: Distance Bridging
While in-person meetings remain important, virtual and augmented reality technologies create new possibilities for remote collaboration. These tools prove particularly useful for site inspections and product demonstrations. An architect can use VR to give clients a virtual tour of a building design, potentially reducing the need for multiple in-person visits.
The global VR and AR market in corporate training is expected to grow by $2.92 billion from 2020 to 2024, according to Technavio. This growth indicates a shift towards more immersive and interactive remote business interactions.
Smart Travel Management Platforms
Travel management platforms have evolved to incorporate AI and machine learning capabilities. These systems analyze vast amounts of data to provide real-time insights on travel costs, policy compliance, and risk management. (Companies can use these platforms to optimize their travel budgets and ensure employee safety.)
Advanced features include predictive analytics for travel disruptions, automated expense reconciliation, and integration with sustainability tracking tools. This level of automation and intelligence allows travel managers to focus on strategic decision-making rather than day-to-day administrative tasks.
Biometric Technology: Streamlining Travel Processes
Biometric technology continues to transform the travel experience, particularly at airports. Facial recognition and fingerprint scanning speed up check-in, security, and boarding processes. Some airlines and airports have implemented “single token” systems, where a traveler’s biometric data serves as their passport, boarding pass, and ID throughout their journey.
This technology not only enhances security but also significantly reduces wait times and improves the overall travel experience for business professionals. As biometric systems become more widespread, business travelers can expect smoother, faster transitions through airports and other travel hubs.
Final Thoughts
Business travel in 2024 will transform significantly. Companies and travellers will prioritise work-life balance, sustainability, and cutting-edge technology. These changes will lead to more enjoyable, efficient, and purposeful trips for professionals on the move.
Businesses must adapt to these trends to enhance employee satisfaction and streamline travel processes. Travellers who stay informed about these developments will experience more productive and comfortable journeys. (Those who embrace these changes will find themselves at the forefront of the evolving business travel landscape.)
At Emerald Inn, we understand the needs of modern business travellers. Our fully self-contained apartments offer the space and amenities necessary for productive work and comfortable relaxation. With our prime location and top-tier facilities, we remain committed to providing an experience that aligns with the latest trends and expectations in business travel.