On February 15, the African Business Travel Association (ABTA) hosted its Travel Buyers Breakfast at Southern Sun Sandton to understand how corporates are managing their travel.
During her opening speech, Monique Swart, Founder of ABTA, highlighted some key stats within the industry – and it appears that the demand for global business travel is stronger than ever before.
Valued at US$711 billion (R13,4 trillion) in 2021, business travel is growing at a CAGR of 13,3% and is anticipated to be a staggering $3 trillion (R56,6 trillion) market in 2030.
Trends that are shaping travel habits and driving behaviour include sustainability, technology and wellness.
“Sustainability isn’t going away, and the time is coming where we have to look at balancing people, planet and profit,” said Swart.
TnE tech
In business travel terms, the seamless management of travel and expenses (TnE) – from quotes and bookings to payments and recons – is key for corporates who need to keep track of and oversee each of these processes. It is for this reason that platforms such as Travelit, part of Tourvest’s Travel Services (TTS) division, are seeing such great success.
In material supplied during the breakfast, TTS reveals that through Travelit, they’ve seen a 90% adoption rate and are providing more than 2 000 corporates and government departments up to 30% in savings. With 1,5 million active users, the platform manages over 15 000 bookings daily.
Traveller wellness and duty of care
Wellness continues to be an important element of travel, which can be complicated, stressful and dangerous, depending on the level of risk associated with each destination and type of travel – even for seasoned travellers.
Understanding this risk, Hatch, an international organisation specialising in driving value-based outcomes, has developed tools and resources that support traveller wellness. These tools include a journey management plan and pre-travel assessment to determine and mitigate any health and safety-related risks.
“Business travel outside of your home location can mean professional growth but can come with physical, emotional, and security risks,” said Hatch.
In conclusion
As more corporates push for negotiating rates directly with suppliers, how TMCs align to corporates’ travel management policies was a hot topic of discussion at the breakfast. Moving forward, it will be essential that the right balance is found between travel consultants and corporates to ensure high-value, high-impact travel experiences.
