In October, the Global Business Travel Market 2017-2021 report was published, with analysts forecasting the global business travel market to grow at a Compound Annual Growth Rate of 5.11% between 2017 and 2021. But what can TMCs do today, to reap the rewards of the growing industry in the future?
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Most travel managers are aware of the importance of traveller satisfaction by now. Satisfied business travellers are less likely to deviate from policy, and, according to research published last year by the GBTA: “Unsatisfied employees cost our workforces billions in lost productivity each year.” So far, so simple, but for travel managers “how” is often the hard part. Widespread traveller satisfaction can seem like the holy grail of travel management, always just beyond your grasp. So where do you start?
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In recent years, you could be forgiven for thinking that the term ‘direct-booking’ strikes fear into the hearts of online travel agents everywhere. The tussle for dominance between hoteliers and OTAs has been presented as a fierce battle that's shaking the very core of the travel industry. However, a thorough examination of the facts reveals that it isn’t. Not even close. In fact, outside of the US at least, it’s actually more a playground spat than an epic war.
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Recently, Donald Trump called for a "larger, tougher and more specific" travel ban, and on Sunday it was revealed exactly what this meant when he issued the third iteration of the travel ban. But what do you need to know about the latest restrictions on immigration into the US?
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For years, the business travel industry has feared market-cannibalisation by online travel agents (OTAs), so Expedia's recent statement that they see their future in working with partners to solve industry pain-points surely comes as a relief. But should TMCs embrace this or forge their own path?
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