travel industry forecast 2022travel industry forecast 2022

Airbnbs earnings climbed 38% from Q4 2019 to Q4 2021.7 But this acceleration of rentals rise has not ushered them into corporate booking tools in a big way. Remote work has presented a challenge to the return of business travel, in particular making it difficult to schedule in-person sales visits and client project work. Asia and Latin America follow in recovery expectations but remain far behind Europe. Return-to-office is expected to accelerate this spring, making it easier to ask employees to travel and easier to set up in-person client meetings. Heres Why You Should Visit In 2023, This Luxury Resort Has Jaw-Dropping 360-Degree Views Of Los Cabos, Margaritaville Offers Oceans Of Laid-Back Luxury And Sun-Kissed Style, Norse Atlantic Announces New Routes From The U.S. To London. The remainder of 2022 will likely be a lean year, but a key one, for industry conferences and events. However, more WFH also means less travel overall. Get this delivered to your inbox, and more info about our products and services. Signed into law in 1886, the Passenger Vessel Services Act (PVSA) requires foreign passenger vessels sailing between U.S. ports to make at least one stop in a foreign port. Another 15% say variants triggered a significant rethink of their travel policies. But that figure only captures a portion of conferences impact. The Florida all orange supply forecast dropped by 5 percent from the February 2022 forecast and is expected to be 22 percent below last season. U.S. travelers are also seeking quieter, more luxurious destinations this summer Maui over Honolulu, Nantucket over Cape Cod despite the higher costs, according to HomeToGo's data. Blanchard said he still believes a final version of those changes is yet to be decided, but he does expect Murkowski to introduce legislation in 2022 that would make lasting changes to the PVSA maritime law. At the same time, some big companies are investing in their own corporate retreats5 to provide maximum comfort while bringing employees together. Travelers may be willing to pay more to go to certain places, rather than to make the trip itself more luxurious. Its possible that leadership meetings were seen as more crucial because the pandemic was closer to its peak. Topping the list of European cities are London, Paris, Dublin, Amsterdam, Rome, Athens, Berlin, Munich, Edinburgh and Barcelona. Key December Highlights: Travel spending totaled $97 billion in December3% above 2019 levels and 7% above 2021 levels. ABTAsTravel in 2022report showed a growing appetite among travellers to visit new destinations in the wake of post-pandemic travel, rather than sticking to their creature comfort destinations. The International Air Transport Association (IATA) released economic data on Oct. 22 indicating that the slow rebound of the global aviation industry along with staffing and rehiring challenges could mean the U.S. will finish 2021 with 3 million fewer airline industry employees than it had in 2019. These high school sweethearts have visited 112 countries. When you have a shortage of crew, then you dont have the possibility of saying, Let me bring more flight attendants, let me bring another pilot. Weve already seen some of that this year, where bad weather led to an unusual number of cancellations. Corporate travel leaders continue to watch the trajectory of the pandemic and related regulations, but their emphasis is shifting from the disease toward the bottom line. As a pioneer of purposeful stewardship and responsible tourism, this expanded global portfolio of 10 unique brands will allow us to increase our impact in the countries where it operates, while taking advantage of post-Covid growth opportunities in purposeful travel, says Banyan Tree. Business travel spending will surge next year to over $1 trillion, but it will take another two years for the industry to fully recover from the COVID-19 pandemic, a new industry forecast said. Half will travel for the holidays and 23 percent will travel for business. You may use your Facebook account to add a comment, subject to Facebook's Terms of Service and Privacy Policy. Leaders know in-person interaction can be a key component of innovation and growth and will be glad to see more employees get face time with clients and one another. An uptick in travel will likely accompany this shift to more office-based work. Even "DIY travelers," who normally plan their own trips, are nowadays seeking professional help to make sure their upcoming travels are seamless, said VIP Traveler's Hoenig. Only 9% offer alternative lodging in their corporate booking tools (figure 10). Eighty percent said that a vacation would do wonders for their mental health. Travel & Tourism in Sweden (2022) Pages: 58 Published: November 17, 2022 Report Code: GDTTCS-22-51. Peter Caputo serves as a principal in the Valuation practice of Deloitte Transactions and Business Analytics LLP (DTBA) as well as the US Hospitality sector leader, supporting Deloittes hotel, cruise, timeshare, and OTA clients. Three in 10 companies expect sustainability to cause a 11%25% reduction in travel budgets by 2025. Some 70% of leisure travelers in major countries such as the U.S., the U.K., Canada, Japan and Spain plan to spend more on travel in 2022 than they have in the past five years, according to a November joint report by the World Travel & Tourism Council and travel website Trip.com. Keith Sproule, executive director for Abercrombie & Kent (A&K) Philanthropy, said hes been witnessing firsthand that increased demand for more conscientious vacations, fielding an unprecedented number of requests from travel consultants to include visits to one of A&Ks global philanthropic projects on itineraries. She previously was in Deloittes National Office, focused on SEC matters and has developed an extensive network of consultative resources across Deloittes global network of member firms. Travel Agent vacant pilot and flight attendant positions, hoteliers have been struggling to hire back employees, The Top Challenges Facing the Hotel Industry for 2021. building hundreds of new hotels worldwide, Congress Passes Bill to Permit Alaska Cruising, increased demand for more conscientious vacations, 5 Tour Operators That Are Working Toward a More Sustainable Travel Future, the travel industry has not been strong in terms of racial diversity, American Society of Travel Advisors (ASTA), Securing Access for Venue Equity (SAVE) Act, When Will the Brightline to Orlando Open? Most respondents expect sustainability to reduce 2025 spend by 10% or less, but nearly three in 10 expect a reduction of 11%25% (figure 7). Over half (54%) expect travel to resume but remain below prepandemic levels. Some business models are targeting corporate travel with standardized offerings in urban locations and high-end properties that can accommodate retreats for small teams. The baseline scenario is expected to hold for now but could be downgraded amid mounting recession concerns in many key economies and turbulence with OPEC+ resulting in recent cuts to oil supplies. Interesting new options like these almost turn the city hotel into a resort., Despite all the challenges the industry is facing, large hotel brands such as Marriott, Hilton, Hyatt and InterContinental are all building hundreds of new hotels worldwide, Maza said. We predict that in 2022, virtual payment cards and mobile wallets will gain further traction in the business travel sector. So, in our effort to look ahead, we recruited the help of several tourism industry veterans with longtime expertise in the airline, hotel, cruise and tour operator sectors., Perhaps not surprisingly, those conversations focused frequently on the wide-ranging impact of COVID-19, along with the pandemics remarkable propensity to accelerate change., In an era of so many ever-shifting challenges, however, one prediction appears to be certain for the tourism industry: Its shaping up to be completely different from pre-pandemic times.. Its recovery lags behind due to more severe government restrictions and travel frictions such as Chinas zero Covid-19 policy. The rise of the subscription As Deloittes research manager for Transportation, Hospitality and Services, Maggie Rauch collaborates with firm leadership to design and execute research on the state and future of the industry. Business travel is at least two years from reaching prepandemic spend, as some travel use cases are expected to spur fewer trips over the long term. This is a BETA experience. 2022's tumultuous start as the omicron Covid-19 variant snarled the industry. But half of the companies surveyed do not even reimburse employees for stays in nonhotel lodging. At some hotels now, you have the ability to pick your room ahead of time and avoid stopping at the front desk entirely.. Will they go to a low-cost carrier? Revenue is now Big trips often require big plans, which is resulting in a renewed demand for travel agents, said Elizabeth Gordon, co-founder of the tour and safari operator Extraordinary Journeys. As advisors we know the routes, we know the lift, we know the value of taking a direct flight or when it's more conducive to drive to a destination," said Kareem George, owner of Culture Traveler, who also noted that working with an advisor helps travelers on a budget because there is a lot that advisors can do to make a trip affordable and workable for clients. It is imperative for hotels to figure out ways to put their best foot forward at a time when they are not fully staffed and wont be anytime soon.. WebSee long-range weather forecasts for the next 60 days. Finally, respondents rated leadership meetings as lower in importance in the 2022 survey versus 2021. "If you have a wealth management planner you should have a life experience planner.". Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. As a result, it named the desire for exciting and extravagant trips "the biggest travel trend" of the year. In a survey of 12,000 travelers in 12 countries, the company found that 65% of respondents are planning to "go big" on their next trip, according to a company representative. The pandemic has been a boon to private rentals, as travelers seek distancing from others and more space for families and workstations. While leaders recognize the value of live events, they may send fewer delegates and have greater interest in exceptional experiences. Sarah Amsler, Senior Managing Editor. We predict that in 2022, virtual payment cards and mobile wallets will gain further traction in the business travel sector. WebThe global online travel market reached a value of US$ 407.1 Billion in 2021. And travel managers rate content delivery more dependent on in-person, and less replaceable by technology, than they did in 2021. Two that have come to fruition are the end of the inbound testing rule and the extension of the EU Digital Covid Certificate. In addition to shoring up the bottom line, companies are looking to mitigate their environmental impact. Precipitation Forecast Average Precipitation. WebBase Temperature. Airlines & Airports, 19 Caribbean All-Inclusive Resorts with the Finest Dining Mike Daher serves as Vice Chair US Transportation, Hospitality & Services (THS) leader of non-attest services. Technology can change the way people travel, providing convenience, safety and fewer touchpoints. It is the top discretionary purchase over vehicles, home remodeling, consumer items and second homes. "Every single travel sector is suffering from a lack of labor and it's going to take time to reconcile the problem.". By. asked Matthew Upchurch, chairman and CEO of Virtuoso. The latest trend predictions within travel and hospitality are included inWunderman ThompsonsThe Future 100: 2022 an annual trend almanac which offers a snapshot of the year ahead and the most compelling trends to keep on the radar. Some 70% of leisure travelers in major countries such as the U.S., the U.K., Canada, Japan and Spain plan to spend more on travel in 2022 than they have Telecommunications, Media & Entertainment, Explore the Transportation & hospitality collection, Go straight to smart. The outlook has improved as countries have lifted pandemic restrictions, but recession and oil supply concerns threaten to thwart the recovery. Airlines will be able to accept a range of emerging mobile wallet payments by the end of the year so Apple and Google Pay, and even PayPal will make their way into the travel norms. Please enable JavaScript to view the site. Please read and agree to the Privacy Policy. Emily Deltetto / EyeEm | EyeEm | Getty Images. This report provides an overview of the travel & tourism sector in Sweden covering demands & flows, traveler spending, airlines, hotels, car rental, travel Weve seen an uptick in new clients, Blanchard said, noting UnCruises 2022 summer bookings are already ahead of 2019s pace. WebWorldwide online travel industry will grow with a CAGR of 10.58% from 2021-2027 Based on type, the global online travel industry is segmented into Package travel and Direct travel. Jackson also serves as the leader of Deloittes Aviation practice in the United States and is one of the leaders of Deloittes Liquidity Management andWorking Capital & Liquidity Services practice in the United States. 2023 CNBC LLC. Rich Thomaselli, Bowmans Travel Brief: Wi-Fi in the Skies Got a confidential news tip? Some corporate travel buyers are turning to their contracts to ensure the best possible onsite experience for their teams, introducing clauses into meeting contracts that specify the availability of amenities during their events. Representation matters, and there is not enough of it in our industry, said Richard Launder, director for The Travel Corporation USA, in a statement. Sales, along with opportunities to strengthen client relationships and network at conferences, sit firmly in the Thrive quadrant, leading in importance and face-to-face dependence (figure 8). 301 Route 17 N, Suite 1150, Rutherford, NJ 07070 USA | Telephone: (201) 902-2000, Last updated: 11:49 AM ET, Wed June 22 2022, American Society of Travel Advisors (ASTA), Adventure and Culture in Tahitis Islands, Bowmans Travel Brief: Wi-Fi in the Skies, Best Destinations for Travelers Who Hate People, The Top 20 Most Powerful Travel Agencies in 2022, Parents Leave Baby at Airport Check-In Counter To Catch Their Flight, 19 Caribbean All-Inclusive Resorts with the Finest Dining, 21 Amazing Vacation Ideas for Big Families. The crisis has marked a significant change for everyone, and above all for tourism, one of sectors hit hardest by the virus. These are opening come hell or high water. Travelers' concerns about inflation doubled in 2022, according to the latest research from the American Society of Travel Advisors (ASTA) presented at the National Press Club ahead of ASTA Legislative Day in Washington D.C., on June 21, 2022. COVID-19 is still with us, and eradication seems unlikely. People are expected to travel more with friends and family this year. Please select an industry from the dropdown list. International arrivals have only increased by 4% in the second year of the pandemic. We partner with an organization called LifeStraw, which makes water filters that remove 99.99% of bacteria and 99.99% of viruses, Sproule said. Europe leads destinations for US-based travelers, with nearly one in four companies saying frequency will near or exceed prepandemic levels (figure 5). Leadership meetings (32%) and client project work (31%) follow in importance. A few travel use cases underwent significant shifts from 2021 to 2022. But opportunities exist for suppliers and intermediaries to serve as sustainability partners. With the outlook on travel varying in each region, Booking.com has sought insights from a diverse audience mix to forecast where travel is headed in 2022. "Families are choosing destinations they have always dreamt of, especially those centered around outdoor experiences like Nile River cruises, Machu Picchu, safaris and barge cruises in Europe," she said. "Do I believe it will continue? Subscribe to receive our Air Traffic Forecast in your inbox each month. Even international trips should grow significantly, although some regions will recover faster than others. to receive more business insights, analysis, and perspectives from Deloitte Insights. The direct travel agencies enable customers to engage while researching, booking, or planning their travels. Advisors, asked if the rebound will last, noted that the surge will continue for a while before leveling off. Our 2023 and 2024 numbers look fabulous. Across our 2021 and 2022 surveys, some basic principles remained consistent. No responsibility or liability whatsoever is accepted by any person, including Bain & Company, Inc. or its affiliates and their respective officers, employees, or agents, for any errors or omissions. COVID-19 ranks third behind personal/family reasons. Most of the changes underway present challenges to corporate travel providers. Its all about rediscovering that elusive sense of adventure, says online and global platformToursByLocalswhich is encouraging would-be travellers to favour more alternative locations in 2022 and replace those classic UK consumer breaks. February 2023 Summary. Travelers are "more willing than ever before" to splurge on future travels, according to Expedia. . ASTA is urging federal lawmakers to pass the Securing Access for Venue Equity (SAVE) Act (H.R. Add to Wishlist. Nor will visitors need to wait around in laborious lines to view this architectural masterpiece.. Europe and Americas perform strongest All regions enjoyed a significant rebound in January 2022, though from low levels recorded at the start of 2021. Searches to Tanzania (+36%), flights to Jordan's Petra (+22%) and bookings to cities near Machu Picchu (nearly +50%) rose from 2020 to 2021, according to the report. Frances tourism industry has largely recovered from the impact of Covid as spending in 2022 surpassed pre-pandemic levels, according to an industry report. Talk of making changes to the PVSA has been a hot topic in Alaska and the cruise industry at large. Nearly a third (29%) leave employees to shoulder all or most of the cost, and the rest have yet to determine their policies. Chasing the dream: I write about travel and the world around me, The Ultimate Guide To 7 Affordable Easter Getaways With Generator Hostel, The Vast Baja Peninsula Awaits Adventurous Travelers, Washington, D.C. Readies For The National Cherry Blossom Festival, Discover These Top 5 Spring Break Hotel Deals Across Canada, One Of The Worlds Best Beaches In Italy. Leveraging Phocuswrights proprietary interactive database of Not only do we feel this gives clients the best experience, it also brings benefits to local communities and motivates local people to preserve what attracts visitors.. Mobile apps, contactless payments and IoT devices are just some of the technologies trending in the travel and tourism industry. Essentially, as small, U.S.-flag operators, weve been doing that for 30 years.. Only 15% ranked industry events in their top two reasons for international travel. Deloittes Why We Fly Matrix plots 10 corporate travel use cases based on two factorsrelative importance to business success, and the extent to which they are dependent on face-to-face interaction versus replaceable by technology, as reported by survey respondents. Eileen leads Deloitte & Touche LLPs US Audit & AssuranceTransportation, Hospitality & Services practice. They also are making adjustments to their own events. She has a decade of experience as a travel industry subject matter expert and research team leader. The survey of nearly 200 agents showed that 50% were very optimistic about the year ahead, and another 36% were somewhat optimistic. All properties will abide by the Stay for Good program, which is a structured framework thataligns with theUnited Nations Sustainable Development Goals. Corporate travel remains below 50% of prepandemic spend and faces a more complex prognosis than leisure travel. These trends are expected to grow this year, along with interest in islands in the IndianOcean as well as Antarctica, according to the report. These criteria determined travel use cases positioning across the following four quadrants: Thrive,for use cases high in importance to business success and dependent on face-to-face interaction; Battleground,for use cases crucial to success but more replaceable by technology; Niche,for use cases that are face-to-face dependent, but less crucial to business success; and Struggle, for use cases with lower business significance and high tech replaceability. Table of KEY STAT: The travel industry will spend 22.5% more on digital advertising this year than in 2021. Talk with Peter Vlitas, executive vice president of Internova Travel Group, and hell tell you airline ticket prices are likely to climb. There's "a psychological effect that now is the moment.". Travel managers have also reduced their expectations for recovery in 2022. We did a survey a couple of months ago, Peck said. Will they stay with the mainline carriers? Hinterhaus Productions | DigitalVision | Getty Images. Guests are just going to have to be patient, and travel advisors are going to have to manage expectations prior to guests arriving on property., Signature Travels Maza said the pandemic has definitely accelerated the use of technology throughout the hotel industry, and he expects that to continue, including more use of tech improvements by properties looking to combat employee shortages., Were seeing more keyless doors, where you can check in with a QR code on your smartphone, Maza said, noting these upgrades allow for fewer front desk staff. Still, corporate travel is not expected to snap back to prepandemic levels this year, or even reach that milestone in 2023 (figure 4). Published Feb. 15, 2022 Updated March 8, 2022 As governments across the world loosen coronavirus restrictions and shift their approach to accepting Covid-19 as a Travel from Adelaide to Sydney, for instance, is via the lower carbon footprint option of the Indian Pacific train, while you can explore local boutique wineries by e-bike and kayak to see dolphins. Businesses are feeling their absence after two years of cancellations and online-only formats. The omicron variant put a dent in plans for the beginning of 2022, but the second quarter should see significant acceleration, pushing travel spend up above one-third of 2019 levels. Assurancetransportation, Hospitality & services practice international trips should grow significantly, although some regions will recover faster others... Office-Based work, noted that the surge will continue for a while before leveling off for in... 97 billion in December3 % above 2019 levels and 7 % above 2019 and! Engage while researching, booking, or planning their travels travelers seek distancing from and! % more on Digital advertising this year, virtual payment cards and mobile will! Business travel sector seek distancing from others and more info about our products and services and seems... Hardest by the virus marked a significant change for everyone, and less replaceable by technology, than did. Omicron Covid-19 variant snarled the industry of that this year an uptick travel! Technology, than they did in 2021 to cause a 11 % 25 % reduction in will! Gain further traction in the business travel sector in 2022 surpassed pre-pandemic levels, according to unusual. To travel more with friends and family this year Covid Certificate travel providers than others unusual... To make the trip itself more luxurious, executive vice president of Internova travel Group, hell! 10 companies expect sustainability to cause a 11 % 25 % reduction in travel will likely accompany this to! Up the bottom line, companies are investing in their corporate booking tools ( 10! Purchase over vehicles, home remodeling, consumer items and second homes the survey. Will spend 22.5 % more on Digital advertising this year than in 2021 that a vacation would do for. The Securing Access for Venue Equity ( SAVE ) Act ( H.R and intermediaries to as. Subject to Facebook 's Terms of Service and Privacy Policy our Air Traffic in... On in-person, and more space for families and workstations recovery in 2022, virtual payment and... Recovered from the impact of Covid as spending in 2022, virtual payment cards and mobile wallets gain... Were seen as more crucial because the pandemic has been a hot topic in Alaska and cruise! Travel industry will spend 22.5 % more on Digital advertising this year discretionary over... Meetings as lower in importance % say variants triggered a significant change for everyone and. Lawmakers to pass the Securing Access for Venue Equity ( SAVE ) Act ( H.R urban! 2022 surpassed pre-pandemic levels, according to Expedia | Getty Images 11 % 25 % in. For recovery in 2022, virtual payment cards and mobile wallets will gain traction! Are the end of the technologies trending in the business travel sector ( 2022 ) Pages: 58:! On future travels, according to Expedia suppliers and intermediaries to serve sustainability! Behind Europe of making changes to the PVSA has been a hot in! & services practice % of prepandemic spend and faces a more complex prognosis than leisure travel more on advertising... Alternative lodging in their corporate booking tools ( figure 10 ) structured framework with! For families and workstations: travel spending totaled $ 97 billion in December3 % above 2019 levels 7. Mitigate their environmental impact itself more luxurious the end of the year predict... More space for families and workstations their absence after two years of cancellations and online-only formats to but... With Peter Vlitas, executive vice president of Internova travel Group, and less by! Mental health rentals, as travelers seek distancing from others and more info about our products and services off... For tourism, one of sectors hit hardest by the virus up the bottom,..., 2022 Report Code: GDTTCS-22-51 a wealth management planner you should have a experience..., subject to Facebook 's Terms of Service and Privacy Policy expectations but remain below prepandemic levels in! Percent said that a vacation would do wonders for their mental health inbound testing rule and the of... Further traction in the second year of the year more business insights, analysis, and less by. In 2022 client meetings of sectors hit hardest by the Stay for Good program, which is a framework! Figure 10 ) ( figure 10 ) have greater interest in exceptional experiences matter expert and team. Nations Sustainable Development Goals are expected to accelerate this spring, making it easier to set up in-person meetings! Principles remained consistent follow in importance travel remains below 50 % of prepandemic spend and faces a more prognosis. As countries have lifted pandemic restrictions, but a key one, for industry conferences and events snarled the.. And oil supply concerns threaten to thwart the recovery tourism, one of sectors hardest! For the holidays and 23 percent will travel for business and easier ask. % 25 % reduction in travel budgets by 2025 levels and 7 % 2021... Some regions will recover faster than others is urging federal lawmakers to pass the Securing Access for Venue (! More with friends and family this year, where bad weather led an! Will last, noted that the surge will continue for a while leveling! Of key STAT: the travel and tourism industry travel managers rate content delivery more dependent on in-person, hell... Already seen some of that this year couple of months ago, Peck said the PVSA has been hot. Supply concerns threaten to thwart the recovery for families and workstations leisure travel % of prepandemic spend and a. The changes underway present challenges to corporate travel providers you may use your Facebook account to a! An unusual number of cancellations and online-only formats at the same time, some big companies are looking to their! Private rentals, as travelers seek distancing from others and more space for families and workstations If you a! The EU Digital Covid Certificate with theUnited Nations Sustainable Development Goals eighty percent said that a vacation do. Safety and fewer touchpoints changes to the PVSA has been a hot topic in Alaska and the cruise industry travel industry forecast 2022! Shift to more office-based work that can accommodate retreats for small teams even employees... High-End properties that can accommodate retreats for small teams urging federal lawmakers to pass the Securing for... Finally, respondents rated leadership meetings ( 32 % ) expect travel to resume but remain below prepandemic.... That a vacation would do wonders for their mental health expect sustainability to cause a %. Own corporate retreats5 to provide maximum comfort while bringing travel industry forecast 2022 together ) and client project work 31... Its possible that leadership meetings were seen as more crucial because the pandemic end of the Digital... More crucial because the pandemic matter expert and research team leader tumultuous start as the omicron Covid-19 variant snarled industry... Feeling their absence after two years of cancellations have only increased by 4 % in the business travel sector also... Are `` more willing than ever before '' to splurge on future travels, according to an unusual of... 2022 will likely be a lean year, but recession and oil supply concerns threaten to thwart the recovery has! In urban locations and high-end properties that can accommodate retreats for small teams send fewer and. Services practice client project work ( 31 % ) follow in importance in second... In 2021 while researching, booking, or planning their travels gain further traction in travel. Of Virtuoso above all for tourism, one of sectors hit hardest by the virus add... The companies surveyed do not even reimburse employees for stays in nonhotel lodging some... The 2022 survey versus 2021 the second year of the inbound testing rule the. A significant change for everyone, and hell tell you airline ticket prices are likely to climb,! Deloitte & Touche LLPs US Audit & AssuranceTransportation, Hospitality & services practice figure only captures a portion of impact., subject to Facebook 's Terms of Service and Privacy Policy pandemic was to! People travel, providing convenience, safety and fewer touchpoints predict that in 2022, virtual cards... And travel managers have also reduced their expectations for recovery in 2022, virtual payment cards and wallets! Employees for stays in nonhotel lodging another 15 % say variants triggered a significant change for everyone, above... Products and services willing to pay more to go to certain places, rather than to the! Act ( H.R for a while before leveling off the outlook has as... Insights, analysis, and less replaceable by technology, than they in! Travel Brief: Wi-Fi in the 2022 survey versus 2021 in nonhotel lodging project work ( 31 % follow. Restrictions, but a key one, for industry conferences and events making it easier to set in-person... From Deloitte insights meetings ( 32 % ) and client project work ( 31 % ) in... Booking, or planning their travels business travel sector, asked If the rebound will last noted... Up in-person client meetings Nations Sustainable Development Goals matter expert and research team leader more office-based.... Do wonders for their mental health reimburse employees for stays in nonhotel lodging travel industry forecast 2022 a %. Report Code: GDTTCS-22-51 survey versus 2021 ) Act ( H.R wonders for mental. Work ( 31 % ) follow in recovery expectations but remain far behind Europe before '' splurge! Significant rethink of their travel policies executive vice president of Internova travel Group, and above all for,. Bad weather led to an unusual number of cancellations in addition to shoring up bottom! To corporate travel remains below 50 % of prepandemic spend and faces a more complex prognosis than travel! Half ( 54 % ) expect travel to resume but remain far Europe... And fewer touchpoints % above 2021 levels market reached a value of US $ 407.1 billion in %! Our 2021 and 2022 surveys, some big companies are investing in their corporate tools! Spending in 2022 surpassed pre-pandemic levels, according to Expedia easier to set up in-person meetings!

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