Uncertainty Remains for Corporate Travel in 2017 — Skift Corporate Travel Innovation ReportSkift Take
Following a year of consolidation, corporate travel experts are expecting more of the same. At the same time, global concerns have the potential to undermine the demand for business travel after years of growth.
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It’s a new year, and corporate travel experts are expecting more consolidation in an industry that saw a surprising amount of change in 2016.
The effects of the Marriott-Starwood merger, along with Concur’s acquisition of Hipmunk, may not be felt immediately by the industry at large.
But the uncertainty caused by global events, especially terrorism and isolationist political policies, post a more immediate concern.
“There wasn’t a single event so much as a general sense of uncertainty that filtered into the world of corporate travel [in 2016],” Rocketrip founder and CEO Dan Ruch told Skift. “Everything from political surprises (the U.S. election and Brexit vote) to high profile terrorist attacks gave travel managers occasion to reassess foundational parts of their programs. There’s some anxiety about whether the tried and true systems companies have built for traveling employees — around duty of care, spend management, reporting — are still suitable. The need for corporate travel to adapt, and quickly, is something I heard discussed a lot in 2016.”
Still, there is reason to be optimistic for increased business travel growth as the global economy continues to grow, especially in Asia. As corporate travel technology gets smarter, there will also be more opportunity for companies in the space to provide better products and experiences to their clients.
Time will tell what 2017 holds for corporate travel, but it will certainly be an interesting year for an industry undergoing disruptive change.
— Andrew Sheivachman, SkiftSOCIAL QUOTE OF THE DAY
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The Skift Corporate Travel Innovation Report is curated by Skift editors Hannah Sampson [[email protected]] and Andrew Sheivachman [[email protected]]. The newsletter is emailed every Thursday.
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