Corporate Traveler’s Trends Report for Q1 2024
(powered by FCM Consulting)
In Q1 2024, corporate travel is showing great adaptability and resilience amidst a rather complex global landscape. Our latest report dives into these dynamics, unpacking the tweaks in airfares and the strategic boost in seat availability.
This report gives businesses like yours the insights needed to smoothly navigate fluctuating airline and hotel pricing in a rising demand scenario. You’ll also discover strategies for boosting traveler engagement and effectively managing your travel budgets and processes—because we want every trip to count for your business success.
Here are just a couple of the key business travel trends from the report:
- Economic impact on travel: With a projected global inflation rate of 5.9% for 2024, companies are tightening their belts but continue to see the value in corporate travel, leading to a more strategic use of travel budgets.
- Airline innovations: Subscription models from Alaska Airlines and AirAsia are changing how companies book travel. With options like Alaska Airlines’ $49/month across 15 USA destinations, this could help businesses predict and control travel costs better.
- Accommodation fluctuations: Average room rates have varied, with North America experiencing a slight increase, highlighting the need for businesses to keep a keen eye on accommodation costs as part of their travel budgeting.
- Sustainability in aviation: The EU and UK's new SAF blending targets for 2025 are pushing airlines to adopt more sustainable practices, which may influence corporate travel policies and promote environmental responsibility in business travel practices.
