North American business travels soars almost 135% in 2022
Business travel in North America has surged nearly 135% in 2022, a new report reveals.
Figures from OAG’s North American Traveller Sentiment survey show 89% of respondents have taken part in a corporate trip in 2022, compared to 38% in 2021 – an increase of 134%.
Additionally, 90% said their company has planned business travel over the next 12 months – almost a 30% jump from the last year.
The data shows a positive trend for the US travel market despite the rising costs, flight cancellations and recession concerns.
OAG surveyed more than 1,400 travellers in the US, Canada and Mexico between April and May to study how consumer behaviour was shaping the travel industry’s future.
What’s behind the figures?
The shift in corporate travel policies towards attending in-person events can be attributed to the rise in business travel.
Easing of Covid-19 restrictions and renewed confidence among employees for business travel are also key factors in the increase in travel bookings.
Suzanne Neufang, CEO of the Global Business Travel Association (GBTA), said: “We’re seeing significant gains in the return of business travel, especially over the past month or two. GBTA’s global data shows more companies are allowing domestic and now also international employee travel.
“Booking levels and travel spending continue to return, and there’s high levels of optimism and employee willingness to travel for business. This comes even as the industry faces challenges beyond Covid-19 including rising fuel prices, inflation, supply chain disruption and war in Ukraine.”
What does it mean for organisers?
The future is brimming with opportunities for event organisers as more people are keen to meet in person and travel for face-to-face meetings.
However, a shadow of uncertainty lurks as costs shoot up and concerns grow around a possible recession.
In such a scenario, organisers should strive to provide the maximum value to their audience. Here’s what they should do:
- Plan Smart Events: A Smart Event is a live show improved through technology. These tech enhancements increase value for all participants – attendees, exhibitors and sponsors. Read our complete guide to Smart Events to find out how.
- Building 365 communities: It’s important to keep the connection going after the in-person experience gets over. Always-online event communities have emerged as a crucial tool to connect people, drive engagement, boost networking and nurture leads around the year. Learn how to get started with your event community now.
- Set up online marketplaces: An online marketplace is a platform to connect your buyers and sellers all year round. It helps any buyer attending a live show to explore and get more info about products and companies to make business decisions. Download the Marketplace Blueprint to find out how to set up your own.
We hope you enjoyed reading this article and found it useful. At ExpoPlatform, we want to help you build better events and communities. Please get in touch and ask for a demo here. Thank you.
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