A new survey from American Express Canada reveals a positive return to business travel, tempered with fears of growing economic uncertainty.
The study, which encompassed respondents from various age groups and industries, revealed that the top two factors impacting decisions around business travel for the upcoming year are cost of travel (47%) and recession-related financial impact (31%).
Despite this, business travel is on the rebound, with nearly half (47%) of respondents indicating that they plan to travel more in 2023 than last year.
Other survey findings include:
● 71% of survey respondents said they are likely to add personal vacation to business travel, with the majority of Gen Z (88%) and Millennial (75%) respondents saying they are likely to take advantage of their business travel plans by adding on personal time off or vacation.
● Almost half (44%) of respondents listed knowledge-building opportunities as their primary reason for conducting business travel. Other top reasons included meeting with clients (43%) and team building opportunities (38%).
● When asked about the key benefits to them when it comes to making the most out of their business travel, the top three selected were hotel programs (45%), seat upgrades (35%) and airport lounge access (32%).
American Express Canada says these findings underscore that professionals recognize the many opportunities business travel still affords. At the same time, they are focused on being value-conscious, such as taking advantage of rewards to keep costs down, or attaching vacation onto work trips.
Topics From This Article to Explore
