Business connectivity has seen exponential development in the recent years with businesses of all types becoming globally interconnected. This has led the corporate travel industry to grow at a remarkable pace, with several experts forecasting global business travel spending to reach $1.6 trillion by the year 2020.
A thriving global economy combined with dramatic advancements technology have paved the way for a revolution in the business travel industry. The typical business travel experience is set to go through a significant reformation in the coming years, and it’s best to stay informed.
Demand for self-booking capabilities set to rise
The year 2019 will see an increase in demand for flexibility when it comes to business travel. Instead of relying solely on travel agencies, business travellers now wish to have the freedom to book their own flights and hotel rooms in accordance with their preferences.
This trend of self-planning business travel has been on the rise since 2018 as more and more millennials become corporate travellers. And come 2019, an exponential increase in demand for such self-booking capabilities in corporate travel is imminent. The rise of mobile booking and alternative lodging services such as AirBnB has made it entirely hassle-free for corporate travellers to plan their own travel. This increase in the demand for self-booking capabilities is a global trend and companies will certainly have to adapt to the needs of their employees.
Artificial intelligence set to make its way into corporate travel
With an increased demand for self- booking capabilities, personalised recommendations and suggestions on digital platforms will be a big thing. That’s where AI comes into play!
Tour management companies, as well as new start-ups, are expected to make use of the recent developments in artificial intelligence to meet the expectations of business travellers.
Analysing patterns in regards to corporate travel include identifying the preferences and requirements of millions of business travellers worldwide and then providing customised recommendations to individual travellers. This can be achieved through the use of AI.
Artificial intelligence is already on its way to revolutionising corporate travel, and plenty of apps and online services exist that offer some fantastic tools to make your journey easier. As we hit 2019, we can only expect to see a lot more innovation in the eld of business travel involving AI.
Growth of private jet travel
The upcoming year is likely to witness significant growth in the use of private jets for corporate travel. Traveling for business purposes on commercial flights has quite a lot of risks associated with it.
Apart from the frequent delays that travellers have to face on commercial flights, excessive security checks and chaos at busy airports add to the woes of business travellers. Though one might use compression socks to ease leg stiffness that comes from sitting long hours in a commercial flight seat, the ‘private’ alternative is far superior. Private jet travel has a host of advantages when it comes to corporate travel. Convenience, comfort, and efficiency are three of the primary factors that are driving a lot of business travellers to choose private aviation over commercial flights. This trend is only expected to grow further in 2019 as private jet rental costs become more affordable.
By Emenike Emmanuel, CEO of EntrepreneurBusinessBlog. com, and lead coach of The Excellent Entrepreneur’s Network (TEEN).