American Express Global Business Travel Consulting studies the impact of new business travel patterns on hotel trends
American Express Travel’s 2023 Global Travel Trends Report shows travelers, and particularly Gen Z and Millennials, plan to spend more on travel in 2023 than 2022.
As we look to 2023, it’s an exciting time to be in this industry. In-person meetings and events are roaring back – and at the same time, we can take lessons learned during the last few years to make positive, long-lasting changes to the way we work. Dramatic improvements in technology and a renewed focus on sustainability, wellness, and inclusivity provide a clear path forward for the industry.
86% of respondents are planning to spend more or the same on travel in 2022 compared to a typical pre-pandemic year
Looking toward the future, it’s clear that how and where we work is changing - and travel is something inherently tied to that evolution. To this end, Amex GBT and cultural analysis firm CULTIQUE have partnered to create a white paper - the Why Business Travel Is the Center of The New Company Culture - to help companies decipher these shifts and act on the opportunity to reframe business travel from a transactional mechanism to a transformational tool.
Business Travel Recovery Well Underway and Gaining Momentum
As part of the transaction, Expedia Group has become a shareholder in GBT. Expedia has also entered into a long-term agreement to provide accommodations supply to GBT.
Located in Terminal 3, the lounge will be the first Centurion Lounge in Europe and American Express’ third Centurion Lounge to open this year.
Domestic travel continues to represent most travel activity (more than 80%) and this is not expected to change much during the summer period, normally a slow period for business travel. If restrictions on travel reduce and vaccinations continue to roll out, intra-regional and international travel could take off from September.
82% of business travelers and 79% of corporate travel decision makers say the benefits of in-person events and meetings outweigh the convenience of virtual participation