Business travel to surpass 2019 levels, says Cvent report

Cvent, a conferences, occasions, journey and hospitality expertise supplier, has printed the most recent instalment of the Cvent Journey Managers Report: Europe Version, which offers insights into present company journey developments and exercise.

The report reveals important ranges of optimism amongst company journey managers. Three quarters (75%) of respondents anticipate their organisation’s 2022 journey quantity to eclipse 2019 ranges, with greater than a 3rd (32%) citing they anticipate volumes to “improve considerably”.

In accordance with respondents, causes for elevated journey quantity embrace:

• “There’s a necessity for our workers to satisfy face-to-face for coaching and enterprise functions.”

• “Our enterprise must be taught from different markets.”

• “We wish to develop internationally: new companions, purchasers and buyers.”

• “Extra journey highlights our want to develop our publicity to new markets.”

The report additionally signifies that organisations are eager to supply journey throughout borders. Greater than 69% of journey managers within the UK and throughout Europe say they’re sourcing internationally (each inside and out of doors of Europe). In distinction, fewer than 8% of journey managers are sourcing solely home choices, demonstrating the numerous shift in the direction of a want to journey extra broadly.

Graham Pope (pictured), vp gross sales, Cvent Europe, stated: “The outcomes on this report illustrate the unimaginable alternative that exists for hospitality professionals as organisations look to get their workers again on the highway and interesting with their purchasers and prospects face-to-face to gas their development.

“After a tough couple of years, such a major resurgence available in the market is nice information for the hospitality trade and can particularly profit suppliers which can be in a position to adapt their gross sales and advertising methods to have interaction their consumers in a extra dynamic manner. Whereas labour shortages are nonetheless a problem, we hope this constructive momentum conjures up a better concentrate on the important significance of the hospitality trade, and the individuals who assist ship unimaginable experiences.”

Extra findings

Journey budgets rising

• The bulk (81%) of respondents anticipate their enterprise journey funds per journey to extend in 2022, in comparison with spend ranges of 2019. While this improve is because of rising airline and resort prices inside the sector, company journey managers additionally cite different issues together with enterprise journey being recognised as an instrumental option to develop gross sales – subsequently elevated funds is required to assist obtain targets.

Journey managers supply for conferences and occasions

• 88% of company journey managers surveyed are accountable for sourcing accommodations for conferences and occasions along with sourcing for worker journey, with 64% citing occasion varieties embrace giant exterior conferences and commerce exhibits. With expanded roles and obligations, journey professionals are regularly managing bigger budgets and have elevated shopping for energy. 

Altering programme priorities

• Greater than 83% of respondents reported that their journey programme issues have considerably modified when in comparison with 2019. Areas which have elevated in significance embrace vendor flexibility, environmental sustainability, and traveller preferences.

• Journey managers have grow to be extra considering twin or dynamic price gives from accommodations. Greater than two thirds (62%) of respondents say they’re now extra open to discussing all these charges than they have been in 2019, demonstrating a want to check charges to maximise worth.