德勤：2023年商務(wù)旅行調(diào)查 Navigating toward a new normal -2023 Deloitte corporate travelstudy

Deloitte。

Insghts

Navigatingtowardanew

normal:2023Deloitte

corporatetravelstudy

DeloitteConsumerIndustryCenter

ThethirdeditionofDeloitte’s

corporatetravelstudyindicates

businesstravelcontinuesto

climbintheUnitedStatesand

Europe,butlikelyfacesalimited

upside.Astripvolumeincreases,

travelmanagersfacehighprices,

toughsuppliernegotiations,and

sustainabilitymandates.

Tableofcontents

04...Introduction

06...Chartingtherecovery

:Gainscontinue,butbuyersexpectlimitedupside

08...Growthdrivers:Internationaltripsandliveeventsleadtheway

11...Howweworkaffectshowwetravel:WFHandvideoconferencingare

changingtraveldecisions

13...Costcontrolandcontracting

:Renegotiatingwithnewneeds,expectations

15...

Higheraspirations:Travel’sstrategicpositioning

16...

Sustainability:Seekingapathtogreenertravel

18...Conclusion

19...Endnotes

4

Introduction

B

ymanymeasures,1leisuretravelintheUnitedStatesandEuropereachedpre–COVID-19levelsmonthsago,afterfollowingconsistentupwardtrendssincetherolloutofvaccinesinearly2021.Corporatetravel,however,hasbeenslowertoreturn.Decisionsabout

thesetripsfaceanentirelydifferentcalculus,accountingforahostoffactors:travelersafetyandwillingnesstoboardaflight,clientinterestinmeetinginperson,thevalueofattendingaconference,andwhetheravirtualconferencingplatformcanreplacethetrip—justtonameafew.

Thesecondhalfof2022wasaffectedbycompetingforces:Ontheonehand,theworldhadspentseveralmonthspastthepeakofpandemicconcern,whichhelpedpavethewayforthegrowthofcorporatetravel.TheUnitedStatesdroppedprearrivaltestingformostforeignvisitorsinJune,severalmonthsafterEurope.Butastheyearworeon,concerningeconomicsignalscontinued.Fromabackgroundofconcernaboutloomingrecession,layoffsemerged,affectingthetechsectormostacutely.2InMarch2023,financialconcernswerecompoundedbyissuesinthebankingsector,thetrajectoryofwhichwereuncertainatthetimethisreportwasdrafted.

Asprofessionalshavestartedtoputmoretripsontheiritineraries,manyareencounteringhigherairfaresand

roomrates.Thesepricingconditionsfitawkwardlybothwithtravelbuyers’seeminglycautiousfinancialapproachandwithmanytravelsuppliers’widelyreportedstaffingchallengesandslowinfrastructureupdates.

AsDeloittecontinuestostudythefutureofcorporatetravel,wearewatchingthefollowingkeytrendsanddevelopments:

?Thereshapingoftraveltoaccountforsocialshiftssuchasmoreflexiblework,andcorporatetravel–specificonessuchashigherexpectationsofflexibletravelbookings

?Travel’sstrategicpositioningwithincompanies

?Attitudestowardconferencingplatformsandothertechnologyasreplacementsfordifferenttraveluse

cases

?Thestateofrelationsbetweentravelbuyersandsuppliers,especiallypertainingtocontractnegotiations

?Whichsupplier-ledsustainabilityeffortshavethemostpotentialtomovetheneedleonbookings

5

Navigatingtowardanewnormal

METHODOLOGY

Thisreportdrawsonasurveyof334travelmanagers,executiveswithvarioustitlesandtravel-budgetoversight,fieldedfromFebruary7to23,2023.Thesurveyreached106US-basedrespondents,and228EuropeanrespondentsbasedintheUnitedKingdom(56),Germany(57),Spain(59),andFrance(56).

Noteonbusinesstravelspendprojections

Beginningin2020,manypubliccompaniesbegansharingvariousfiguresrelatedtothestrengthofcorporatetraveldemand.Deloitte’sestimatesandprojectionsrelyonthespendfiguressharedbyrespondentstooursurvey.

Wewouldliketonotethat:1)thereisnoreportingstandardforcorporatetravelvolume;2)reported

metricsareinconsistentacrosscompaniesandusuallyrepresentaportionofcorporateversusthewhole(i.e.,domesticversusinternational;passengerrevenueversusflownsegment,businesstransientversusgroup);3)duetoasignificantsharebookedoutsideofcorporatebookingengines,suppliersmaylackfullvisibilityintocorporatevolume;4)developmentsintravelandworkpatternshavemadeaccountingforbusinessversusleisuretravelmorechallenging.

Keyfindings

?Responsesfromtravelmanagersindicatethatcorpo-ratetravel’sreboundisonsimilartrajectoriesintheUnitedStatesandEurope.Spendinthecombinedmarketsisprojectedtosurpasshalfof2019levelsinthefirsthalfof2023,andtwo-thirdsbytheendoftheyear.

?Whilefullrecoveryto2019spendvolumeappearslikelybylate2024orearly2025,adjustingforlostgrowthandinflationindicatesthatinrealterms,corporatetravelwilllikelybesmallerthanitwaspriortothepandemic.

?Internationaltripscontinuetogrow,aschallengesdeclineforvisitingpartsoftheworld.USrespon-dentsexpectinternational’sshareoftravelcoststojumpfrom21%in2022to33%in2023.Europeanrespondentsexpect32%of2023spendtogotointer-nationaltripswithinthecontinent,and28%beyond.

?Live-eventattendanceappearspoisedtobeabiggrowthdriver,leapfroggingfromthefifthbiggesttriggerforincreasedspendin2022tothetopspotin2023.MorethanhalfoftravelmanagersinboththeUnitedStatesandEuropeexpectindustryeventstospurtravelgrowththisyear.

?ManysuppliercontractswerefrozenfortwoyearsorlongerduringtheCOVID-19pandemicandbegantoberenegotiatedin2022.Asbuyersreturntothenego-tiatingtablewithlowerexpectedtripvolume,somereportthatsomesuppliersarepushingforhigherrates.Hospitalityprovidersarereportedlytakingastrongerapproachthanairlines,andEuropeansuppliersarepushingharderthanAmericanones.

?Climateconcernswilllikelyputacaponcorporatetravelgainsforseveralyearstocome.Fourin10EuropeancompaniesandathirdofUScompaniessaytheyneedtoreducetravelperemployeebymorethan20%tomeettheir2030sustainabilitytargets.

6

Chartingtherecovery:Gainscontinue,butbuyersexpectlimitedupside

travelgrewroughlytwofoldfromthebeginningtotheendoftheyear(figure1).SpendacrosstheUnitedStatesandEuropeisexpectedtoshootto57%of2019levelsinthefirsthalfof2023,andsurgetonearlythree-quartersoftheprepandemicmarkbytheendoftheyear.

C

orporatetravelmademajorstridesin

2022.AfterconcerningCOVID-19

variantsandtheoutbreakoftheRussia-

Ukraineconflictsettheyearofftoarough

start,businessleadersdecidedthetime

wasrighttoreconnect.Accordingly,

Figure1

Travelspendisexpectedtosurpasshalfofprepandemiclevelsbythefirsthalfof2023

Corporatetravelasapercentageof2019spend,UnitedStatesandEuropecombined

95%

85%

71%

57%

42%

27%

11%

7%

3%

H2

2020

Question:Whendidordoyouexpectyourcompany’stravelspendtoreachthefollowinglevelsof2019spend?

Note:N=334.

Source:2023DeloitteCorporateTravelSurvey.

H2

2024

H2

2023

H1

2024

H1

2023

H2

2022

H1

2022

H2

2021

H1

2021

7

Navigatingtowardanewnormal

Whilefullrecoveryto2019levelsappearspossiblebylate2024,accountingforinflationwouldleavethecorporatetravelmarketbetween10%and20%smallerinrealtermsthanitwaspriortothepandemic.Growthin2023—andlikely2024—willcomeinanenviron-mentofhigherairfaresandroomrates,meaningthatthenumberoftripswilllikelystilllagfurtherbehind.

InthisthirdeditionofDeloitte’ssurvey,travelmanagers’expectationshaveonceagaindownshiftedcompared

tothepriorsurvey,thoughlessdramatically.Travel

managersintheUnitedStatesandEuropeanticipatevery

similartrajectoriesfrom2022through2024.Altogether,

aboutaquarter(24%)ofcompaniesexpecttheirtravel

spendtoexceedthree-quartersof2019levelsinthefirst

halfof2023;thatfiguremorethandoublesto53%by

thesecondhalfof2023.TheshareofUScompanies

expectingtoreachfullrecoverygrowsfourfoldfrom

theendof2023totheendof2024.AmongEuropean

companies,thatfiguretriples(figure2).

Figure2

71%ofUScompaniesexpectafullrecoveryintravelspendbytheendof2024

Spendasapercentageof2019byquarter,UnitedStatesversusEuroperespondents

Lessthan25%25%–49%50%–74%75%–99%100%

UnitedStates

Europe

Beforeorin202170%29%

76%21%

H1202235%58%

26%61%10%

H2202215%45%31%7%

9%51%29%7%

H120239%14%58%8%11%

12%59%16%9%

H220237%35%38%18%

45%27%23%

H1202413%45%37%

10%51%38%

H2202424%71%

31%68%

0%20%40%60%80%100%0%20%40%60%80%100%

Question:Whendidordoyouexpectyourcompany’squarterlytravelspendtoreachthefollowinglevelsof2019spend?

Note:N(US)=106;N(Europe)=228.

Source:2023DeloitteCorporateTravelSurvey.

8

Growthdrivers:International

tripsandliveeventsleadtheway

T

hebiggestdriversoftheexpectedcontin-uedincreaseintravel,accordingtothe

survey,arethegrowthofliveeventsandeasingofrestrictions.Asofearly2023,internationalborderswerefinallytruly

openfortheworld’sbiggesteconomies,withChinabeingthelasttoclearthewayforinboundandoutboundtrips.USrespondentsexpectinternationaltripstoaccountfor33%of2023spend,upfrom21%

inDeloitte’s2022survey,andsimilarto2019.Long-haulcorporatetripsfromEuropearestillcatchingup:Respondentsexpect28%ofspendtogototripsbeyondthecontinent,downfrom34%in2019(figure3).Evenafterrestrictionsareofficiallydropped,itcantakesometimefortraveltoresumeatscale,especiallyforlong-haultripsordestinationsrequiringvisas,whichmighttakelongertoattainduetoprocessingbottlenecks.3

Figure3

AboutathirdofspendisexpectedtogototripsbeyondUnitedStatesandEurope

Internationaltravelasashareofcorporatetravelspend,UnitedStatesandEurope,2023

InternationaltravelInternationaltravelwithinthecontinent

33%

TopregionsbeyondNorthAmerica

Projected%of2023international

spend

16%:Europe

10%:SouthAmerica

10%:Asia

32%

InternationaltravelwithinEurope

Questions:Whatistheexpecteddomesticversusinternationalproportionofyourcompany’sbusinesstravelspend?Howdoesyourcompany’stravelspendbreakoutamongthefollowinginternationalregions?

Note:N(US)=106;N(Europe)=228.

Source:2023DeloitteCorporateTravelSurvey.

28%

TopregionsbeyondEurope

Projected%of2023internationalspend

14%:NorthAmerica13%:Asia

6%:SouthAmerica

UnitedStates

Europe

9

Navigatingtowardanewnormal

Thetopreasonsfortheseinternationaltripsprimarilyinvolveconnectingwithclientsandprospects,butthereissomevariabilityacrosstheUnitedStatesandEurope.ForEuropeanrespondents,clientprojectworkisthebiggestreasonfortripsbeyondthecontinent,followedbysalesmeetings.Americancompaniesreportedthatthebiggestreasonforinternationaltravelistoconnectwithglobalindustrycolleaguesatconferencesandtobuildclientrelationships.

Liveeventsappearpoisedtobeamajorcontributor

tobusinesstraveldemandinthecomingyear.They

leapfroggedfromAmericancompanies’fifthbiggest

reasonforinternationaltravelin2022totheirfirst

in2023(figure4).Thistrendextendstodomestic

tripsandtoEuropeancompanies,asanticipatedin

Deloitte’s2023TravelIndustryOutlook

.Increased

eventattendanceistheNo.1driverofgrowingspend,

citedbymorethanhalfofrespondentsinbothEurope

andtheUnitedStates.ForAmericancompanies,itisalso

thebiggestimpetusforinternationaltrips.

Figure4

Liveeventsandeasingoftravelrestrictionssettoleadcorporatetravelgrowthdriversin2023

Topfivedevelopmentstriggeringbusinesstravelreturn

Lowinfectionrates

ReopeningofclientofficesEasingtravelrestrictions

Reopeningofownoffices

1

2

3

4

5

2021

Topfivefactorsslowingbusinesstravelreturn

Travelrestrictions

Employeeunwillingness

Clientunwillingness

Highertravelprices

1

2

3

4

1

2

3

4

1

2

3

4

5

2022

Increasedattendanceatliveevents

Easingtravelrestrictions

Reopeningofownoffices

Largertravelbudgets

Reopeningofclientoffices

Highertravelprices

Travelrestrictions

Reducedtravelbudgets

Clientunwillingness

Employeeunwillingness

Questions:Whatarethedevelopmentsmostlikelytoincreaseyourcompany’stravelvolumein2023?Whatarethefactorsmostlikelytorestrictthegrowthofyourcompany’stravelvolumein2023?

Note:N=334.

Source:2023DeloitteCorporateTravelSurvey.

2023

2023

2022

2021

4

4

3

3

5

2

2

1

1

10

Pent-updemandlikelyplaysarole,asmanyindus-tryconferenceswerecanceledorheldonlinefortwoyearsormore.Butthisstronginterestalsocouldsignalevents’growingimportanceasremoteandhybridworkremainfixturesofthecorporateworld.Whenitishardertocallonprospectsandclientsintheiroffices,conferencescanofferappealingopportunitiestoconnect.

Asattendeesreturntoindustryevents,manycompa-niesalsoareadjustingtheirinternalevents.Halfreportthattheyhavesplittheirlargergatheringsinto

smaller,regional,virtuallyconnectedones.Nearlyasmany(44%)saytheyhaveadoptedahybridapproach.Companiesalsoareincreasinglylookingtousetheirowngatheringstofosterexternalconnections:Fifty-fourpercentofEuropeanrespondents,and42%ofAmericans,saytheyareintegratingmoreclientsintointernalevents.Andsomeareadjustingwhentheseeventstakeplace:Thirty-threepercentofAmericanrespondentsand22%ofEuropeanssaytheyaremovinginternaleventstowarmermonths,andmoreEuropeanssaytheyareintegratingmoreclients.

11

Navigatingtowardanewnormal

Howweworkaffectshow

wetravel:WFHandvideo

conferencingarechangingtraveldecisions

W

ithCOVID-19beinglessofanacutehealthconcernformany,andborderrestrictionsincreas-inglysimilartotheprepandemicperiod,whywouldcorporatetravelnotimmediatelysnapback

toitspriorgrowthtrajectory?Bottom-lineconcernsandsustainabilityaretwoofthebiggestreasons.Andthesearesupportedbytheabilitytoleveragetechnologytodecreasethenumberoftripsneeded.

Companiescontinuetoseesomedegreeoftechreplace-abilityforalltypesoftravelusecases.Butthereareclearstandouts.Internaltrainingsandinternalteammeetingsareratedasmostreplaceable,withmorethan44%ofrespondentsratingeachattheextremelowendontheneedforin-personinteraction.Ontheotherendofthespectrum,only7%and11%ofrespondentsgavesimi-larratings,respectively,toclientacquisitionandclientrapport–building.

Thesametechnologythatisreplacingsometravelisusedbysomecompaniesonadailybasistoenableworkingfromhome(WFH),whichseemslikelytostickgoingforward.Travelmanagersexpectthefuturework-placeflexibilitymodeltohave3.2timestheWFHdayscomparedtotheprepandemicfrequency(figure5).

Employeesseemtopreferthehybridworkmodelaswell.AccordingtotheDeloitteGlobalStateoftheConsumerTracker,4onaverage,peoplewhocanworkremotelyalreadyaredoingsofor2.6daysperweek,butwouldliketodosofor3.5days.

ThisriseinWFHpreferenceandincidenceoverthepasttwoyearshassolidifiedsomechangesinthetypeofbusi-nesstripstaken.Accordingtothesurvey,employeesaretravelingtomoretocitieswithindrivingdistancefromtheirlocation.Thereisalsoareportedincreaseintripstothecompanyheadquartersbyrelocatedemployees,mostofwhich(70%)areeithercompletelyorpartiallypaidforbythecompany.

Thebiggestimpactsthatflexibleworkarrangementsarehavingontravelvolumearelessdirect:Companieshavelearnedthatvirtualconferencingcansupport,tosomedegree,everybusinessneedthattravelserves.Anddistributedworkforcesmakeitmorecomplicatedtoarrangein-personmeetingswithclients,prospects,andinternalteamsthatarespendingfewerdaysintheoffice.

12

NONHOTELLODGING

ComparedtoDeloitte’s2022survey,therehasbeenbigmovementintheincorporationofnonhotelaccommodationintocompanytravelpolicies.AmongUScompanies:

.Onlyabout10%donotreimbursefornonhotelaccommodation,downfromhalfin2022

.45%havenonhotellodgingintheircorporatebookingtoolsversus9%lastyear

.57%haveagreementswithspecificbrandedapartment/homerentalproviders,upfrom23%in2022

EuropeancompaniestrailslightlybehindAmericanonesinformalarrangements(incorporationintobookingtoolsoragreementswithspecificproviders),butoneinfourreimburseemployeesfornonhotelstayswithoutsuchformalstructuresinplace.

Figure5

Futureworkfromhomedaysperweekexpectedtobemorethantripleprepandemic

Workplaceflexibilityovertime:Daysperweekworkfromhome

4.0

3.0

2.0

1.0

0.0

3.9

2.7

2.2

3.2X0.7

Expectedfuturemodel

Question:Pleasechoosetheworkplaceflexibilitylevelthatprevailedorthatyouexcepttoprevailinyourcompanyatthegivenpointsoftime.

Note:N=334.

Source:2023DeloitteCorporateTravelSurvey.

Prepandemic

2022

2021

13

Navigatingtowardanewnormal

Costcontrolandcontracting:Renegotiatingwithnewneeds,expectations

A

scorporatetravelcontinuesitsexpan-sionafterthreeleanyears,companiesfaceachallengingcostenvironment.Higherairfaresandroomratesarethelargestcontributortogrowingcosts,and

theyhavealsobecometheNo.1factordeterringthenumberoftripstaken,upfromNo.5in2022(figure4).

Whileconsumerindustrieshavebeenaffectedbyinfla-tionbroadly,andpublishedairfaresandroomrateshave

alsorisenforleisuretrips,5corporatetravelfacesdistinctpressures.Afteryearsofreducedtravel,manycompaniesareworkingtoaccommodateshiftingexpectationsfromtheirworkforce.Abouthalfofrespondentsreportthatemployees’expectationsofluxuryservices(suchasfirstorbusinessclassairfaresandupscalehotels)andtheneedforflexibleorlast-minutebookingsarepushingcostsupin2023(figure6).Asimilarsharesaythatthepursuitofsustainableprovidersalsoaddstocosts.

Figure6

Afterhighertravelcosts,theneedforflexiblebookingsandtravelcomfortexpectationsaretoppressuresontravelbudgets

Costdrivers

Highertravelprices

Flexiblebookings

Employees‘luxury

expectations

Choosingsustainable

travelproviders

Last-minutebookings

Cost-controlmeasures

Pickingcheaper,alternative

lodgingoptions

Negotiatingpreferred

rates

Pickinglower-cost

flights

Increasingcomplianceto

bookingprocess

Limitingtravelfrequency

Questions:Asidefromrisingtravelfrequency,rankthetopthreefactorsincreasingtravelcostsforyourcompanyin2023.Whataresomemeasuresyourcompanyistakingtocontroltravelcostsastravelfrequencyincreases?

Note:N=334.

Source:2023DeloitteCorporateTravelSurvey.

49%

56%

45%

45%

59%

55%

58%

63%

52%

51%

14

Atthesametime,somecompanieshavealsobeenrene-gotiatingcontractsaftertwoormoreyearsinaholdingpatternduetothepandemic.Threein10respondentssaythatsuppliersfrozetheirnegotiatedratesin2020and2021basedon(higher)2019volume.ThiswastrueformoreAmericanrespondents(35%)thanEuropeanones(28%).

Thepossibilityofprolongedlowerbusinesstravelmaybeaffectingnegotiations.Assuppliersandtravelbuyershaveworkedtoupdatetheircontracttermsin2022and2023,somehaveencounteredsignificantrateincreases.InQ4earningscalls,theCEOsofMarriott,6IHG,7andotherleadinghotelcompaniesattributedrecentstrongperformancepartlytohighercorporaterates.Overallthough,mostbuyersseemsatisfiedwiththedealstheyarestriking.Aboutoneinfive(19%)saythathotelsarelessaccommodatingonratesbecause

theyexpectlowervolume;just11%reportthesameforairlines.

EuropeansuppliersappeartobelessforthcomingwithcompetitiveratesthanAmericans:Fifty-fourpercentofEuropeanrespondentsreportfavorableairlinepricingonpositivevolumeexpectationsversus63%intheUnitedStates.Thatregionalgapissimilaronthehospitalityside(figure7).Inbothregions,travelbuyersgenerallybelievethatsuppliersaretakingalong-termviewoftheirrela-tionshipsversuspressingtheiradvantageinthemoment.

Higherrateslikelyhaveadampeningeffectonthenumberoftripstaken,butlesssothanlastyear.Justunderhalf(45%)ofcompaniessaytheylimitfrequencytocontrolcosts,downfrom72%in2022.Instead,thefocushasshiftedtomitigatingthecostpertripwithcheaperlodging(59%)andlower-costflights(56%).

Figure7

Americans?ndsuppliersmoreaccommodatingonratesthantheirEuropeancounterparts

Respondents’perceptionsofsuppliernegotiation

UnitedStatesEurope

Aviationsuppliers’approachtocontractnegotiations

Lessaccommodating

onrates

Transactional

Hospitalitysuppliers’approachtocontractnegotiations

Lessaccommodating

onrates

Transactional

Question:Inyourrecentexperience,howhaveairlineandhospitalitysuppliersmovedintheirapproachtocontractnegotiations?

Note:N(US)=106;N(Europe)=228.

Source:2023DeloitteCorporateTravelSurvey.

Offeringcompetitiverates

Offeringcompetitiverates

Longterm

Longterm

15

Navigatingtowardanewnormal

Higheraspirations:Travel’s

strategicpositioning

T

heexperienceof2020andmuchof2021demonstratedthatbusinessescouldstillfunctionwithtravelatanearstandstill,savingcompaniesmillions.Buteventhemostbottomline-drivenleaderslikelyknowthattravelismorethanjustanexpenseline.

COVID-19lockdownsbroughttravel-relateddecisionsintotheboardroomformanycompaniesovernight.Andformany,thecalculusofwhenandhowtoreturntotheroadmayhavealsohelpedtoreinforceamorestrategicpositioning.Whenaskedaboutfivedifferentapproachescompaniescouldtaketowardconsideringthevaluesideofthetravelequation,63%ofrespondentssaidtheircompanyhasadoptedatleastthreetosomeextent(figure8).Mostprominently,sevenin10saytheircompany

strategicallyevaluatesandprioritizestravel’spotentialoutcomes(suchasrevenuegeneration)andsideeffects(suchascost,emissions,andhealthrisks).

Whilethesenumbersdemonstratethatamajorityofcompaniestreattravelwithsomestrategicimportance,theyalsoindicatepotentialroomforimprovement.Thetravelmanagementfunctionhashistoricallyfocusedoncontrollingcosts,andmanycompaniesarelikelyinearlystagesofbettertrackinghowthebenefitswarrantthosecosts.Corporatetravelsuppliersandpartnersmayhaveopportunitiestohelpcompaniesnavigatetowardbetteroptimization,bothbyplayingabiggerroleinsupport-ingpositivetripoutcomes,andbyhelpingtomeasuretrips’impact.

Figure8

Evidencepointstocompaniestreatingtravelwithsomestrategicimportance

Travel’sstrategicpositioningwithinrespondentcompanies

70%

Strategicallyevaluateandweigh

potentialimpacts

Costs,emissions,employeeretention,

revenuegeneration,healthandsafety,etc.

60%

Systematicallyvalueeachtrip’s

justifiabilityandgoal

66%

Identifyandprioritizetripsgeneratingmoresignificantoutcomes

46%

AttachmeasurableKPIstotravelbudgetsReturnoninvestment,impactonproductivity,etc.

62%

RegularlyassesstravelstrategyattheC-suiteorboardlevel

Question:Whichoftheabovestatementsreflectyourcompany’sapproachtotravel?

Note:N=334.

Source:2023DeloitteCorporateTravelSurvey.

16

Althoughjust

oneinseven

surveyed

companies

intheUnited

Statesand

oneinfivein

Europeexpectsustainability

curbstoreducetheirtravelin

2023,justover40%ofeachsaytheyareworkingtooptimize

theircorporatetravelpolicytodecreasetheirenvironmentalimpact.

Sustainability:Seekingapathtogreenertravel

A

ssomecompaniesseektoreducetheircarbonfootprinttomeeteitherregula-toryrequirementsortheirowngoals,travelattractsattentionasasignificantcontributortoemissions.Althoughjustoneinsevensurveyedcompaniesinthe

UnitedStatesandoneinfiveinEuropeexpectsustain-abilitycurbstoreducetheirtravelin2023,justover40%ofeachsaytheyareworkingtooptimizetheircorporatetravelpolicytodecreasetheirenvironmentalimpact.

Withsustainabilitybeingaclearcorporatepriorityformany,travelsuppliershaveinvestedsignificantlyininitiativestoreducetheircarbonfootprintanddemonstratetheirgreencommitment—fromdesigningbrand-wideinitiativesandstrivingtomaintainmultiple

sustainabilitycertifications,tofundingresearchandincu-batingstartups.Inadditiontoreducingemissions,theseeffortsbyairlinesandhotelsarealsoaimedatattractingandretainingcorporateclients.

Thestakesfortheseinvestmentsarereal.Asitstands,fourin10EuropeancompaniessurveyedandathirdintheUnitedStatessaytheyneedtoreducetravelperemployeemorethan20%by2030tomeetsustainabil-itytargets(figure9).Andmanyarebuildingthisintotheirpolicies:Forty-threepercentofre