10/08/2024 | Press release | Distributed by Public on 10/08/2024 06:16
CWT and GBTA release special supplement report titled "2040: Baseline, Boom, or Bust" offering a comprehensive analysis of factors that will shape corporate travel strategies and business travel's future
The business travel industry is on the cusp of a major transformation, driven by a convergence of technological advancements, evolving sustainability requirements, and shifting demographic trends. To commemorate the recently released 10th edition of their Global Business Travel Forecast report, CWT and the Global Business Travel Association (GBTA) have produced a special supplement titled 2040: Baseline, Boom, or Bust offering a comprehensive analysis of how these factors will shape corporate travel strategies by 2040.
The supplement examines three distinct scenarios that could define the future of business travel:
"The future of business travel is at a critical juncture, driven by technological advancements, sustainability mandates, and evolving global dynamics," said Nick Vournakis, EVP & Chief Customer Officer at CWT. "Our report emphasizes the need for businesses to be adaptable and proactive in their travel strategies. Whether navigating a boom in global travel or adapting to a slowdown, businesses that proactively integrate technology, prioritize sustainability, and stay agile will be best positioned to thrive in this shifting landscape."
The supplement also provides actionable recommendations for businesses, including investing in data analytics, embracing technological innovation, building strategic partnerships, and focusing on employee well-being to effectively navigate the future of business travel.
For a deeper dive into the projected shifts in business travel, including the potential scenarios of base case, boom or bust, and detailed insights on regional impacts and trends, access the full supplement here.