FLY AUGUST '23 EXPECTATIONS, EXPENSES AND ENTERTAINMENT: AN EXCITING TRAVEL UPDATEA special note from Martin Rockman I'm so excited to share with you a selection of interesting articles related to travel I’m sure you’ll find interesting. The pandemic hasn't dampened the want and need for travel, and studies are showing that recovery is happening far faster than anticipated! I've also curated some great insights on the wants and needs of travellers and travel managers, the increasing prices of accommodations, and some of the latest updates on inflight entertainment. I'm here to provide you with the utmost support, and I'm confident these articles will bring you value. Let’s connect if you’d like to talk more about these topics, or upcoming travel plans.
GBTA:
Global business travel spend to surpass pre-pandemic levels in 2024. A notable update from a previous report that a full recovery was expected in 2026 Global business travel spending is forecast to exceed pre-pandemic levels by 2024, two years earlier than previously predicted. This is due to pent-up demand, favourable economic conditions, and subsiding recession fears. With an average spend of about $1,018 per person, 60% of business travellers are blending business and personal travel more frequently than they did in 2019.
WHAT BUSINESS TRAVELLERS WANT, WHAT TRAVEL MANAGERS SAY: A comparison in 6 charts With some industries seeing an increase in bookings, and others still below pre-pandemic levels, the Global Business Travel Association and Uber for Business conducted a survey involving travellers and travel managers, to better understand traveler expectations. The results uncovered a disconnect, with travellers favouring wellness perks and sustainability, and travel managers emphasising cost-savings and compliance.
EUROPEAN HOTEL PRICES CONTINUE RISING THIS SUMMER Global hotel prices continue to accelerate with higher rates in Europe leading the charge. Hotel prices in Europe continue to rise this summer, with the global average daily rate (ADR) up by 6.3% and Europe's up 13.4% compared to July 2022. France saw an especially large increase with ADR up by 36%. Investment firm Jefferies noted that Europe's hotel sector is the "most recovered" compared to other regions, however occupancy is still below pre-Covid levels. The Asia Pacific region is seeing the strongest year-on-year growth in revenue per available room at 36%, while the Americas have seen the least growth at 1%.
BRITISH AIRWAYS DOUBLES AMOUNT OF INFLIGHT ENTERTAINMENT CONTENT AVAILABLE ONBOARD
Content options during flights have expanded significantly since the beginning of the year. British Airways has doubled the amount of content available for customers to watch on its inflight entertainment system, including boxsets like Harry Potter and Mission Impossible, exclusive content through a partnership with Paramount+, and music and kids content. Passengers can stream content on personal devices if they purchase a wifi package, and the airline has also enhanced their meal offering with a second hot meal, snacks, and hot breakfasts in their Galleries lounges.
Martin Rockman VMR Travel Director Business Travel Sales An affiliate of Protravel International
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martin@vmrtravel.co.uk
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