The easing of border restrictions is the primary trigger for
resuming business travel, closely followed by a company view that it is safe to
travel, according to new research.
Of the 1,600-plus travel managers, bookers and travellers
surveyed by FCM and sister TMC Corporate Traveller, 70 per cent said the
lifting of border restrictions would accelerate the resumption of business
travel and 68 per cent said safety was a key concern.
More than two-thirds of respondents (70 per cent) agreed or
strongly agreed that business travel will gradually return over a period of
time, but only half of respondents believe their business travel volumes will
eventually return to pre-coronavirus levels.
Forty per cent of those surveyed said domestic travel would
return in one to three months and 27 per cent said three to six months.
There was less confidence around resuming international
travel, with 12 per cent saying it would resume in the next one to three
months, 25 per cent in the next three to six months and 32 per cent saying six
to 12 months.
The ‘State of the Market’ report was conducted with clients
in EMEA, Asia, the Americas, India, Australia and New Zealand, ranging in size
from annual business travel spend of US$100,000 to more than US$100 million.
The TMCs noted that there was no discernible difference of
opinion between its larger FCM customers and Corporate Traveller’s SME client base.
Asia is leading business travel
recovery globally, with 50 per cent of those surveyed having already begun
booking domestic travel and 37 per cent expecting to resume international
travel in three to six months.
In EMEA, 37 per cent of
respondents expect to commence domestic business travel in one to three months
and 33 per cent anticipate booking international trips within three to six
months.
Uncertainty around the return of travel
is highest in the Americas, with 28 per cent saying they did not know when
travel would return.
The report also noted that the mining
and construction sectors are most confident about travelling again, with some
businesses having continued travelling during the pandemic.
“The business travel landscape and the
needs of our customers have changed beyond all recognition over the last few
months and business travel conditions will continue to evolve and shift as
everyone comes out the other side of the global pandemic,” says Marcus Eklund, global
managing director, FCM Travel Solutions.
“The first phase of our State of
the Market survey has given us valuable insight into this process. However, the
whole post-Covid 19 era is still full of uncertainties and everyone is living
and working in an environment that will continue to change.”