What Travel Agents Need to Know About Corporate Travel Today
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This is rightly named because the age of traveler-centricity for a evolution from the new era of personalized travel; it can be leading to research and progression of a host of the latest so-called intelligent services. The command-and-control perspectives of traveling have changed so much from the past plus the focus has shifted much more about the traveler along with the productivity of each one trip. It has become vital to maintain the travelers develop the greatest roi on each trip. New generations of young employees and managers, have been growing up and dwelling inside a digital age, are moving up the ranks as travelers. It has become required to recognize the requirement of greater flexibility acknowledging how the employees who travel on corporate trips also think about a percentage of their visit to be a leisure outlet. With increasing globalization and surge in companies sending their staff overseas to network and connect because of their offshore prospects/customers/suppliers, corporate travel is usually a highly profitable tourism segment. Before we discuss how tourism companies can better appeal to business travelers, let’s first look at why they prefer to make use of specialized corporate agencies over traditional agents
Why do businesses use Corporate Travel Agencies?
This might be the simplest question for just a travel agency as to the reasons they need make use of agencies concentrating on corporate travel when there are lots of regular tour operators in the market. Here is the significance about corporate travel agencies who may have online systems which permit business travelers use of their complete itinerary.
The following facts are at the fingertips from the CTAs:-
full business itinerary details
up-to-date tracking information flights (including delays or rescheduling)
transparent information regarding additional costs for example baggage fees or in-flight fees
travel alerts, if any, inside the destined area
complete and up-to-date information about the visa procurement policies and identification required
currency requirement and conversion rates
What do corporate clients expect from Corporate Travel Agencies?
The Corporate Agencies generally have tie-ups with hotels, car rentals, flights etc. giving them having access to lower fares that may be used only because of the frequent business travelers. Discounted costs are not the only advantage though while they also offer flight upgrades, room upgrades, and VIP check-in lines as required.
In-depth information regarding the travel industry
Corporate travel companies have having access to many travel resources and above all, quickly, than some other leisure local travel agency. Additional information makes all the business trips convenient and comfy.
Changes in Itinerary
When an air travel ticket needs to get rescheduled or cancelled, itrrrs likely that the airline or online vendor will charge lofty fees. When booking using a corporate local travel agency, most from the times schedule changes may be accomplished at zero or minimal extra charges.
Viable emergency contacts
It is very important for the business enterprise travelers to arrive at the correct person on the need of trouble. Corporate travel agents contain the experience and professionalism to alleviate stress for both the traveler plus the company.
What you should consider as corporate travel increases?
Business Travel Barometer reported that corporate travel is witnessing an accelerated growth. However, when poorly managed, it usually is no longer a bonus to companies and might, in truth become a burden. There are some factors that the corporations and CTAs must consider for the greatest out with the time spent traveling.
Adopting a travel policy
The corporate must define a travel policy which can be applicable to and respected by travelers by any means levels. This policy really should be used to establish the standards that helps to track the development of business travel. It will eventually assist in lowering the costs in the entire package.
Do not limit the traveler’s autonomy
The management accounts for budgeting the travel policy which supports to improve cash strategy however, it can be also necessary to give a a higher level autonomy towards the traveler. The policy really should be flexible enough permitting the employee to adapt the trip much like the situation.
Traveler’s security should become a major concern
Business travelers must have security in place. The company should stick to its concept of standards to ensure the worker’s integrity. The CTAs ought to have reliable partners (holiday insurance, airlines, hotel chains etc.).
Mobility and automation
To optimize some time and ease the processes, the administration of management platforms needs to have automated processes. This means they need to adopt mobile solutions where search options, travel alerts, ticket reservations etc. may be accessed quickly, easily and so on the go.
Corporate Travel Trends in 2016
Corporate travel trends often change regularly. 2016 in addition has not been any different as well as the travel management companies (TMCs) and corporate travel agencies (CTAs) are usually focused to offer steady or even strong axis everywhere. A growing MICE sector, investments in mobile and big data and enhanced give attention to duty of care are a few of their parts of focus.
The consolidated buzzword among global suppliers, airfares, hotel rates etc. would be the rising fares. It is sometimes the move on the suppliers to create discounts which encourage travel if there is often a strong decline popular. A positive 2016 world economy continues to be bringing an increase in air fares of a few percentage points, hotels need to see 4%-6% surge in average global rates as well as the competition will stay moderate from the car rental services.
Duty of care
Risk management is one on the major points of emphasis for corporations. Corporate people are allowing new policies and improved technologies to check employees’ location in the case of an emergency, specifically when they are making your way to foreign destinations. For instance, Concur Risk Messaging helps you to identify the travelers moving around inside the world and alerts them alternate travel arrangement whenever needed.
Focusing on MICE
Meetings industry can be a major growing sector and also the corporate travel trend is developing into it. The corporate travel agencies should better start aligning different meeting procurement methodologies featuring its transient travel sourcing. One with the ways would be to broaden all of the meeting services which includes incentive trips there.
Investing in technology
A sharper target increasing value and having more traveler-centric can be carried out by getting mobile friendly technologies. Mobile and big data tend to be the two most crucial technological investments which any corporate # travel agency # must focus to produce their platform more inviting.
Business travel analysis after Brexit
Following Brexit, ACTE and CAPA shared their speculations. According to them, the maximum short-term effects within the travel industry can come from the weakening with the pound against other world currencies. Greeley Koch, executive director to the Association of Corporate Travel Executives said the business travel industry will trend on currency fluctuations; by incorporating companies taking advantage with the weaker pound and traveling more, although some may withhold business travel until world markets find their particular level.
Impact of terrorism on corporate travelers
Travel policy makers and administrators should be guided by rising terrorism scare. For executives and staff undertaking travel regarding businesses, the tour operators and corporate travel agencies (CTAs) should prove the reassurance with regards to safety from the travel policies. It is more than likely that this surveys conducted over corporate travelers reflect the concern with the global business travelers regarding the spate of terrorism. However, there is absolutely no denying the reality that terrorist threat has been evolving the patterns of business travel. The key impact with this is to keep in mind which the companies providing travel services for business travelers have to enhance their give attention to security along with the associated risks in delivering the skills to corporate clients. According to an up to date finding, travel managers have higher estimation with their policy’s effectiveness in addressing risk in comparison with skeptical business travelers.
Although the business travel sector has continued to succeed, you can find a plethora of challenges faced through the industry. A changing rapidly consumer market, the emergence of latest business models, the impact of technology, man-made and natural crises are some in the fulcrum points that ought to be considered before planning corporate trips.