More and more business travellers want to travel in comfort, safety, and efficiency. Data from the Trip.Biz poll indicates increased desire for expedited security lanes, adaptable change and cancellation procedures, and excellent hotel services.
SINGAPORE – Trip.Biz, the corporate travel division of Trip.com Group, has published its Corporate Travel Management industry White Paper, examining the business travel industry and trends on the Chinese mainland in more detail.
As border rules loosen and airline capacity progressively increases, businesses in China are excited about the return of corporate travel. 84.5% of businesses anticipate a rise in domestic business travel spending for 2023, while 74.5% anticipate an increase in foreign business travel spending, according to survey data from Trip.Biz.
The market for international business travel shares this opinion. The Global Business Travel Association (GBTA) predicted in August 2022 that business travel overall would recover to 81% of its pre-pandemic level in 2023, while the Chinese market would do so at a rate of about 75% in 2022 and 89% in 2023, with an 18.9% increase in spending on business travel.
More and more business travellers want to travel in comfort, safety, and efficiency. Data from the Trip.Biz poll indicates increased desire for expedited security lanes, adaptable change and cancellation procedures, and excellent hotel services.
Over 90% of business travellers in a Trip.Biz poll said they may pay their own money to visit nearby tourist attractions or historical sites while on a business trip, demonstrating how many workers are embracing bleisure travel. 38.4% of business visitors anticipate spending more time relaxing in the region. When travelling for work, many people feel that established cities or beautiful locations provide the most.
According to the white paper, more than 30% of businesses spent more than 10% of their budgets on business travel in 2022, an increase from 2021. As corporate travel expenditures rise, so does the share of spending on it, making it one of these firms’ biggest outlays. As a result, companies attempt to reduce costs through e-management while increasing revenues.
Companies are pursuing digital transformation aggressively. According to study results from Trip.Biz, around 60% of businesses have started to digitise their business travel procedures. Digital travel management is more common in state-owned companies, Sino-foreign joint ventures, and totally foreign-owned businesses. Additionally, big and medium-sized businesses use digital business travel management more frequently.
According to Steven Zhang, Chief Executive Officer of Trip.Biz, “this year’s strong demand for business travel and the pursuit of efficient management will be a major focus for companies, making the digital transformation of business travel management more urgent than before.”
The white paper also examines current trends, such coupling low-carbon activities with business travel. Companies have increasingly started looking at low-carbon choices for business travel. A Trip.Biz poll found that almost 85% of business travellers choose hotels and airlines that have low-carbon certificates. The implementation of an online management system, in the opinion of individuals in charge of business travel, promotes sustainable and low-carbon development.
Source: traveldailynews