Asked how they feel about the year ahead for business travel, the majority of buyers (61%) said that they are on standby to ‘expect the unexpected’; 24% feel optimistic; and 14% are concerned or anxious.
Business travel managers are bracing themselves for continued business travel uncertainty challenges with distribution changes, and pressure to support their organisation’s sustainability targets, according to the Institute of Travel Management’s (ITM) latest survey of buyer members.
Over a two-week period at the beginning of April 2023, some 100 corporate travel buyers, managers and heads of travel, with a mix of global, EMEA, UK and Ireland responsibilities, completed the ITM ‘Pulse Check’ survey exploring current sentiment and trends. The results were revealed during the ITM ‘energise’ Conference in Brighton on 26th April 2023
Asked how they feel about the year ahead for business travel, the majority of buyers (61%) said that they are on standby to ‘expect the unexpected’; 24% feel optimistic; and 14% are concerned or anxious.
On the topic of airline retailing, 60% of buyers feel that their TMC is not adapting to changes in the distribution landscape. Lack of readiness for NDC and modern retailing has led to a general concern among ITM’s buyer members of a potential increase in leakage. 90% of buyers surveyed still said that their travel policy does not allow travellers to book outside the TMC, which raises further concern around increasing numbers of travellers requesting policy exemptions, booking outside of policy, or challenging the value of the travel programme, given the content they need is not reaching within the managed programme.
Influencing sustainable travel is a topic that has been on buyers’ priority lists for a while, but there is now a real sense of urgency due to the accelerated global focus on climate change and legislation that will tighten up organisations’ disclosure of carbon emissions. This is reflected in the fact that 82% of respondents said that business travel is now part of their organisation’s net zero roadmap. Only 9.5% said that business travel is not part of this roadmap; and the remaining 9.5% did not know. Interestingly 57% of buyers surveyed said that their organisation plans to invest in SAF in the next 12 months.
Scott Davies, CEO, ITM commented: “The results of this latest ‘pulse check’ survey provide a valuable window on the world of our travel buyer members. This is not only enlightening for the whole business travel community, but enables us to focus on continuing to provide essential support, guidance and educational programmes to our members in the areas that matter to them most. As always buyers have a huge amount on their ‘to do’ list and are having to adapt and pivot to deal with many expected or unexpected challenges.
“Air distribution and modern retailing continue to dominate their agenda, as well as sustainable travel. This is another reason why ITM has established two dedicated taskforces recently – an Air Distribution Taskforce, and also a separate Sustainability Taskforce – to support buyers with practical guidance in managing both these areas, and why both these topics are being addressed during ITM conference sessions.”
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She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
