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Skift
4 days ago
- Business
- Skift
Business Travel Forecasts for the Rest of the Year a Mix of Optimism and Shifting Priorities
Business travel predictions for Q3 & 4 vary widely, with the travelers sometimes appearing more optimistic than their companies. Various sectors of the business travel industry have released their predictions for the remainder of the year — and they're all over the place. For some, it appears that geopolitics, tariffs, travel advisories, and border hassles are not enough for companies to keep most travelers home. Others, including the industry's largest member-focused organization, the Global Business Travel Association (GBTA), hint at signs of a slowdown. Summer Travel Optimism Corporate travel management platform Navan's new Summer Travel Trend Report reported that summer flight bookings on the platform are up 10% and hotel bookings up 25% compared to last summer. 'We're seeing strong demand for business travel this summer,' said Rich Liu, CEO of travel. 'Executives have businesses to run, they clearly recognize the value of travel, connection, and face-to-face interactions.' Attendees clearly feel the same way. When the Skift Travel Tracker recently asked the travelers themselves how their travel to meetings, conferences, and trade shows in 2025 compares to 2024, 55% said 'Somewhat More' and almost all (96%) said 'Much More.' On the travel management side of the business, findings from the just-released Sixth-Annual SAP Concur Global Business Travel Survey of travelers were also positive. Despite global uncertainties over trade policies, the survey found that the vast majority of respondents, including 93% of travel managers and CFOs expect their organisation's travel budget to increase or stay the same in 2025 compared with the previous year. Nearly all travelers (97%) said they were willing to travel for business over the next 12 months; however, 40% said they would think about declining a business trip because of safety or social concerns about a destination. Kevin Hinton, managing director, group travel, U.S. Travel Association, remains positive. 'Overall uncertainty isn't helpful for meetings and travel, but the underlying fundamentals remain strong. The stock market is fully recovered from earlier this year and setting records.' 'Flattish' Forecast Despite the positive news, one of the first business travel warning bells of 2025 came from Delta President Glen Hauenstein in April during the airline's first-quarter earnings call, when he said business travel trends are 'choppy," and that "corporate volumes [are] expected to be flattish" compared with 2024. That's backed by GBTA's Global Business Travel Outlook and Impact survey of travel managers, procurement, and sourcing professionals, which found that 28% of U.S.-based (28%) buyers expect their company's overall business travel spend to decline as a result of U.S. government actions. 'That's a notable figure — it reflects that companies are considering when and why they travel as a result,' said CEO Suzanne Neufang. When it comes to travel to meetings and events located in the U.S., 20% were either considering canceling, or canceling. Purpose, location, safety and cost are all factors in these decisions, she said. 'Travel for client meetings, major conferences, and high-impact engagements that drive business are still seen as essential, even if some lower-priority trips may be scaled back.'
Travel Weekly
4 days ago
- Business
- Travel Weekly
Concur survey: Companies are cutting back on perks but not all corporate travel
A solid majority of companies said they plan to maintain or increase business travel spending this year, and many are tightening policies to save money rather than imposing wider travel restrictions, according to the annual SAP Concur Global Business Travel Survey. The survey -- which included responses from 700 travel managers across seven business markets, 3,750 business travelers across 24 markets and 600 CFOs across six markets -- was fielded from April 30 through May 12, which Concur noted was "during a period of high uncertainty associated with global trade." Even so, 93% of travel managers, 90% of CEOs and 89% of travelers said their company had no plans to cut travel budgets. Across all respondent types, about 60% said their company typically makes travel budget cuts in the form of "small changes to all trips" rather than wider policy changes, and 87% of business travelers said they had seen such cuts over the previous 12 months, according to Concur. The most frequently cited cuts in the survey were on extra overnight stays to prevent long travel days and use of premium air classes, each cited by 30% of travelers, and non-client-facing travel, cited by 28% of travelers. Amid those cutbacks, 85% of business travelers said they would pay out of their own pockets to add additional perks to business travel, the survey indicated. Among the most frequent items travelers were willing to take on as personal expenses included: accommodation upgrades (38% of travelers), adding hotel nights to avoid long travel days (35%) and premium seating (30%). That willingness varied by region, with 99% of respondents from India and 91% from the United States saying they would pay their own money to improve their business travel experience, compared with 66% of travelers from France and 73% of travelers from Japan. Younger travelers also were more likely to spend their own money on business travel, with 93% of Gen Z travelers indicating they would do some compared with 62% of baby boomers. In addition, the survey indicated that many company travel budgets are "insufficient," according to Concur. More than 80% of CFOs said company budget limitations prevent employees from traveling as much as they need to efficiently perform their jobs, and 69% of travel managers said their company travel budget didn't reflect the importance of business travel. Business travelers, meanwhile, were nearly unanimous in their willingness to travel, with 97% saying they were at least somewhat willing to travel over the next year, and 94% said business travel was essential to their role. Only about half of surveyed travelers thought their current frequency of travel was about right, with 30% saying they are traveling too much and 19% saying they are not traveling enough. Source: Business Travel News
Forbes
4 days ago
- Business
- Forbes
The Travel Policies Failing A Multigenerational Workforce
Findings from the SAP Concur Global Business Travel Survey offer a snapshot of broad behavioural patterns among generations of business travellers worldwide. By Jonathan Beeby, managing director, SAP Concur Australia and New Zealand Business travel has become a litmus test for how organisations adapt to modern working norms, evolving employee expectations, and ongoing cost-control pressures. Digital collaboration tools are firmly embedded in daily operations, and leadership teams are reassessing the strategic value of travel more critically than ever. However, SAP Concur's latest research reveals that employees are not ready to give up their seat just yet, despite the temptation to reduce travel budgets amid rising operational costs and changing ways of working. SAP Concur's 7th annual Global Business Travel Survey shows that the majority of business travellers across Australia and New Zealand (ANZ) still see in-person engagement as either essential (59 per cent) or helpful (35 per cent) to their roles. This appetite for travel highlights a disconnect between executive assumptions and employee expectations; that gap becomes more pronounced when examining how different generations approach travel. Distinctions are emerging across spending behaviour, personal preferences, and perceived value of work-related trips. Most employees alter their spending behaviour in some way when travelling for business compared to personal trips. Nearly half of surveyed employees (42 per cent) book higher quality hotels or premium rooms for work trips, and 37 per cent opt for direct flights even if they're more expensive. Others are more inclined to use private transport (40 per cent) or dine at premium restaurants (34 per cent) than during leisure travel. However, while some travellers are willing to spend more on comfort, others are saving on costs. More than one-third (36 per cent) of employees spend below their daily meal allowance, and 38 per cent use personal payment cards to accrue loyalty points. Yet, the underlying motivations and outcomes of these behaviours are not uniform. Generational differences in how employees travel, and what they prioritise, are shaping new fault lines in corporate travel management. Findings from the SAP Concur Global Business Travel Survey offer a snapshot of broad behavioural patterns among generations of business travellers worldwide. Baby boomers are the least likely to indulge in extra spending, as just 56 per cent spend more on work trips than personal ones. They focus on value instead, with 62 per cent willing to use their own funds for upgrades, and 64 per cent saving money on company trips, often by underspending their daily meal allowance. Gen X travellers are more likely to increase spending when travelling, with 72 per cent doing so. Nearly three-quarters (73 per cent) of Gen X also take steps to reduce costs by undercutting their per diem, like their older peers. However, they're more willing to spend personal funds on travel perks (74 per cent), such as premium seating or extending their stay. Gen X travellers are split when it comes to being satisfied with how often they travel for work, with 21 per cent wanting to travel less and 20 per cent wanting to travel more. Millennials stand out for their elevated travel spending. The majority (89 per cent) increase their spending on business trips compared to leisure, and 88 per cent are prepared to fund their own accommodation or transport upgrades. Loyalty program engagement is also high, with 87 per cent seeking to earn points during trips. Despite this, fewer than half (47 per cent) are satisfied with the amount of travel they do, indicating demand for more face-to-face engagement. Gen Z displays the most extravagant habits, with 94 per cent receiving upgrades when using company funds and 93 per cent willing to pay out of pocket for additional perks. Though their cost awareness remains strong, 92 per cent actively look for ways to save by underspending or collecting perks. However, safety concerns set them apart from older travellers: 64 per cent express anxiety about air travel, and almost one in five (19 per cent) are reluctant to accept a trip that requires flying. They're also more likely to feel overburdened by business travel, with 34 per cent saying they travel too much. The research findings are clear: a one-size-fits-all approach to travel is no longer viable. The differences aren't marginal; they reflect meaningful shifts that warrant attention, and they raise questions around travel policy design, accountability, and cultural expectations. Legacy policies that don't account for personal preference, generational behaviour, or new working patterns risk creating internal friction, increasing policy breaches, and undermining the value of business travel itself. The solution is not to eliminate travel, nor to hand over unlimited discretion. Instead, companies should build more flexible travel policies that cater to diverse needs while reinforcing cultural values. This may include offering options within policy that accommodate different comfort levels and travel preferences, productivity tools, or booking channels, combined with clearer communications on expectations and empowerment to make informed, responsible choices. Business travel remains a powerful catalyst for relationship-building, idea-sharing, and growth. To harness its full potential, organisations must treat travel as an evolving strategy, not a static expense line. That means understanding how generational insights influence behaviour and shape policies accordingly. In doing so, companies can enhance employee satisfaction and ensure that travel continues to deliver real value in an evolving work environment.
Reuters
20-06-2025
- Business
- Reuters
Travel tech firm Navan confidentially files to go public in US
June 20 (Reuters) - U.S. corporate travel and expense company Navan on Friday disclosed it had confidentially filed for a U.S. initial public offering, as investor optimism for new listings grow. The terms of the offering were not disclosed. Activity in the U.S. IPO market, which started the year on a slower footing, has shown signs of a sustained revival after a couple of fresh flotations received overwhelming investor support. Navan, founded in 2015 as TripActions, began as a corporate travel management platform aiming to streamline services offered by traditional players such as American Express (AXP.N), opens new tab and SAP Concur.
Yahoo
20-06-2025
- Business
- Yahoo
Travel tech firm Navan confidentially files to go public in US
(Reuters) -U.S. corporate travel and expense company Navan on Friday disclosed it had confidentially filed for a U.S. initial public offering, as investor optimism for new listings grow. The terms of the offering were not disclosed. Activity in the U.S. IPO market, which started the year on a slower footing, has shown signs of a sustained revival after a couple of fresh flotations received overwhelming investor support. Navan, founded in 2015 as TripActions, began as a corporate travel management platform aiming to streamline services offered by traditional players such as American Express and SAP Concur. Sign in to access your portfolio
