Changes to business travel post-COVID
As we try to get back to “normal” following the Covid pandemic, it’s apparent that some things have changed for good.
One industry facing a reckoning involves business travel. Ask consultants and they will explain that business and margins boomed in 2020 as they were able to dramatically reduce travel, which lowered those expenses for clients, who plowed those savings back into billable hours for the consultants. The clients got more value for their money, while consultants made more. So there’s no incentive on either side to get back to “normal.”
That’s just one industry. Of course, there will be an appetite to get back to in-person contact. Conferences in particular should see lots of interest as networking doesn’t translate as well to Zoom calls and virtual conferences.
But, as explained in this post, businesses are starting to rethink what qualifies as “necessary travel.” This could have a huge impact on the travel and hotel industries and related jobs.