What Luxury Travel Looks Like In 2020
The report says while millennials accounted for 35% of the luxury market in 2019, by 2025 that will rise to 45%.
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Bleisure travelers aren’t just Millennials. Business people of all ages are extending business trips into mini vacations…if their company’s travel policy allows it.
79% of mobile travelers completed a booking on their smartphones in 2017, up from 70% in 2016, according to Google.
People still want to be able to speak with a human being…just not over the phone. They like having an instant reply to a specific question without being put on hold. 79% of businesses that offer live chat have seen higher sales, revenue, and customer loyalty, according to a survey conducted by Kayako.
Today’s business travelers often come with important data. Hackers are no longer something you only find in fiction, so corporate travelers will be looking for secure WiFi and Bluetooth connections, as well as a safe place to keep their electronics.
The site recently launched a separate booking site for businesses that features “work-ready” homes. As bleisure travel increases, people are looking to stay in places that don’t make it feel like they are traveling for work.
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The 2018 Global Travel Forecast shows hotel prices are expected to rise by 3.7% this year, with Europe seeing the steepest increases. Hotels are also starting to move away from fixed, corporate rates to dynamic pricing models.
Flights will be a lot more crowded due to affordable airfare.
While AI still has a long way to go, it has the potential to save a lot of time and money. The technology will help travelers make quick purchase decisions, check itineraries, and keep up to date on corporate travel policies.
As more Millennials enter the workforce, work-life balance will become a bigger concern to employers. Expect to see more businesses offering flexible options for their business travelers.
The main traits business travelers look for in transportation are dependability, timeliness, and cost. Related industries should be finding ways to appeal to these desires.
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Apple Pay, Venmo, and other digital methods of payment are steadily on the rise due to convenience. Research by the DCC Forum shows 51% of business travelers believe all payments will be made via mobile in the next decade.
Business travelers are sharing their experiences on the road now more than ever thanks to the myriad of social networks available to them.
People realize the impact in-person human interaction can have on success. Face-to-face requests are 34 times more powerful than text-based ones, according to an article in Harvard Business Review. As airfare prices decrease, more business travelers will be able to network one-on-one.
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Whereas bad weather and car accidents used to be a main concern, more serious possibilities like terrorist attacks and cybersecurity issues have become bigger fears with employers. Companies are looking for businesses that take duty of care seriously.
Many of the major airlines are making it much harder to reach elite status due to flight affordability.
This article has been adapted from a piece titled “Business Travel Trends to Watch in 2018” from ParkDIA user Mike.
Related Topics: business travel, business trends, corporate travel, industry trends, leisure travel, research and trends, statistics
The report says while millennials accounted for 35% of the luxury market in 2019, by 2025 that will rise to 45%.
It’s no longer all work and no play. Bleisure trips – the blending of business and leisure travel – are on the rise.
Domestic activity is declining, and forecasts suggest international trips to the U.S. will slow next year.
Booking systems need to consider how travelers' expectations are evolving along with technology.
SurveyMonkey data shows passengers have gotten so hooked on TNCs that the companies could increase prices further.
Physically challenged employees face an extra set of problems in addition to the usual ones that come with traveling for work.
The claims range from unwanted touching and kissing to rape.
Anyone driving a lot on the roads this Thanksgiving week, such as chauffeurs, would want to know this.
It's all about personal, custom, bespoke unplugging type experiences that luxury transportation can play into.
In a recent survey of almost 1,000 Uber and Lyft drivers, it turns out more money doesn't equal happiness.
It's up to travel management companies to evolve from traditional approaches to continue to provide the highest-quality experiences.
NOV/DEC Editor's Edge: An overdue clearinghouse as we cross another big date.
Based on age group, the millennial segment would increase the most with a compound annual growth rate of 9.5%.
An LCT East keynote panel will explain how corporate travel buyers are getting the message on duty of care and the opportunity it provides operators.
Development of the tourism industry, rise in globalization, and rapid increase in small- and medium-sized enterprises are driving the increase.
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