The vast majority of organizations have maintained restrictions on business travel, according to the Global Business Travel Association's most recent member survey, but many members believe at least domestic travel levels will return at a significant level in 2020. About 88% of respondents expect employees will be willing to travel once restrictions are lifted.
GBTA surveyed 1,557 members between April 17 and April 22. About 44% of the respondents were travel managers or buyers and 7% were procurement professionals.
Most business travel remains at a halt, with most respondents banning business travel regardless of destination. About 95% of GBTA members have restricted international travel; about 93% have restricted domestic travel.
About 74% of GBTA Europe members and 58% expect domestic business travel will return in two to three months. About one-third percent of European members expect international business travel will resume in two to three months, while 47% expect it to resume in six to nine months.
According to the survey, 63% of buyers expect some of their travelers will be unwilling to travel for the first six months after governments lift travel restrictions, while 25% expect "a few" will be and 12% said "most" of their travelers would be.
Among the GBTA members that reported their organizations have canceled at least some domestic travel, 62% said they expect it to resume in the next two to three months. About 18% report they expect such travel to resume in the next six to eight months and 19% are unsure.
Compared with a week ago, 49% of suppliers said their bookings from corporate customers have decreased, and 41% said they have stayed the same.
With regard to flight cancellations, 77% believe the worst has already happened, and 15% believe the worst has yet to come. Regarding suspended hotel operations, 62% believe the worst has already happened, and 26% believe the worst has yet to come.
About 19% of suppliers are more optimistic than last week about the industry's path to recovery, with 24% more pessimistic and the remainder offering no change.
GBTA members said the following is very important to making their employees comfortable to travel again:
- Decline in infection rates (92%)
- Governments lifting travel restrictions or advisories (91%)
- Guidelines or statements from public health agencies such as the CDC (90%)
- Effective anti-viral treatments (89%)
- Removing stay-at-home lockdowns (88%)
- New vaccine developed and available to employees (85%)
- Advice from a risk management firm/consultant (60%)
- Other companies allowing travel (49%)
Looking into the weeks ahead, 42% of GBTA members believe the worst of layoffs and furloughs have already happened, while 41% said the worst has yet to come.
The survey found 21% of buyers work at organizations that have reduced staff as a result of Covid-19, with 21% noting their organization has furloughed employees and 20% citing employee pay cuts.
For travel agencies, 56% of GBTA members believe the worst of revenue losses has yet to come, and 29% believe the worst has already happened.
Source: Business Travel News