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- Category: Industry News
More than 5,200 attendees from around the world joined the Global Business Travel Association (GBTA) Convention 2023, which was held August 13-15 at the Kay Bailey Hutchison Convention Center in Dallas. The three-day conference included numerous education sessions, inspirational speakers from across the hospitality and travel ecosphere, and plenty of opportunities for travel buyers and planners to connect.
In addition to sessions exploring everything from DEI initiatives in business and managing neurodivergent travelers to being a courageous leader and balancing the latest tech trends, the GBTA Convention also featured an Industry Insights on Sustainability panel with Marriott President & CEO Anthony Capuano and United Airlines CEO Scott Kirby. The panel discussion dug into how their businesses are leading the way toward a greener future for travel as well as how it can be a sustainably profitable pivot for everyone involved. The Convention also glimpsed into the future with Future Today Institute CEO Amy Webb, who offered how organizations can achieve their preferred future and tackle tomorrow’s most pressing questions about work, relationships, and our way of living.
The association also shared its 2023 Business Travel Index Outlook, which was created in collaboration with Visa. The extensive annual report expects that global business travel is strong and will recover quicker than previously projected, with expectations to exceed pre-pandemic spending levels of $1.4 trillion in 2024 and grow to nearly $1.8 trillion by 2027. In 2022, global business travel spending rose 47 percent to $1.03 trillion, with strong gains continuing and 32 percent growth expected in 2023, according to the report.
The crossover in our industry has long been understood as many from luxury chauffeured transportation also attend and exhibit at the conference. This year, more than a dozen transportation companies were on the show floor, including 305 Transportation, A1A Global Ground, Carey, Dav El/BostonCoach, EmpireCLS Worldwide, Gem Worldwide, Golden Class Limousine, NYC Limousine VIP, Mundi Limos, Reston Worldwide, RMA Worldwide, SIXT, BLS, Sunny’s Limousine, and Urban Worldwide (apologies if we missed anyone!).
“As is GBTA’s mission and promise, Convention is a platform where we bring together in-person the ‘many voices’ in the industry for the ‘one purpose’ of building a better future for business travel through community, learning, and advocacy,” said GBTA CEO Suzanne Neufang. “As GBTA just revealed in our latest five-year forecast report, global business travel is expected to continue to be a resilient industry that is poised for growth while delivering value to global economies, companies and business travelers alike.”
Finally, GBTA also announced the election results, which included five newly elected Board members and other elected leadership positions who will begin to serve immediately for a two-year term.
- President: Mark Cuschieri of UBS
- Vice President: Rosemary Maloney of Alteryx
- Direct Seat, Director-At-Large: Carol Fergus of Fidelity International
- Allied Seat, Director-At-Large: Mike Daly of Serko
- Regional Director--Canada (Direct Member): Elizabeth Oliveira of OMERS
- Allied Leadership Council Chair: Tammy Routh of Marriott International
- Chapter Presidents Council (CPC) President: Ronda Dean of F5 Networks
Next year’s GBTA Convention is scheduled for July 22-24 in Atlanta. The association also has regional events planned for the remainder of 2023, including GBTA APAC Conference in Singapore (September 19-20) and the GBTA + VDR Europe Conference in Hamburg, Germany (November 14-16).
Visit gbta.org for more information.
[08.22.23]
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- Category: Industry News
EBizCharge is proud to announce its new integration to 3D Secure (3DS). 3DS acts as a fraud prevention tool that provides extra data to the card-issuing banks, and when positive, the liability of fraudulent transactions shifts from the merchant to the card-issuing bank.
3DS prevents card-not-present fraud and improves eCommerce payment security for card issuers and merchants by safeguarding this data.
3DS enhances fraud protection using extra verification steps during checkout that occur in the background, with no change to merchants’ current process or consumers’ checkout experience.
EBizCharge Senior Business Relations Manager Matt Rogers
With EBizCharge’s new 3DS program, merchants can process cardholder-initiated transactions and avoid the liability of any fraudulent chargebacks. This program works for all major card brands, such as Visa, Mastercard, Discover, American Express, etc.
“3D Secure is a game-changer for businesses that don’t do business in person. Chargebacks have been a problem forever and this is a major step in the right direction to eliminate fraudulent chargebacks,” said EBizCharge Senior Business Relations Manager Matt Rogers.
EBizCharge is heavily invested in 3DS and committed to providing merchants with the highest level of payment security. EBizCharge stays up to date on the latest 3D security technology and other payment security measures to adapt to evolving threats.
Merchants can take advantage of the new 3DS program using EBizCharge by simply opting into the program.
Visit ebizcharge.com for more information.
[08.18.23]
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- Category: Industry News
The Global Business Travel Association (GBTA) is readjusting its projected spending forecast upward on global corporate travel in the coming years, with new projections peaking in 2027 at $1.8 trillion (the range of the projections are 2024-2027). The positive news is part of the 2023 GBTA Business Travel Index Outlook Annual Global Report and Forecast, its yearly findings in collaboration with Visa, which was announced at the association’s convention in Dallas this week. The expansive report includes data from 72 countries and 44 industries, as well as input from 4,700 business travelers across five global regions.
With global recession fears in 2022 and 2023 abated—for now—both years have seen stronger than expected rebound in the sector across the world. GBTA now predicts that spending will crest pre-pandemic levels in 2024 at $1.4 trillion, besting the previously estimated mid-2026 recovery date. The report also credits the progress that has been made in combating the pandemic for the accelerated pace, as well as the return of in-person meetings.
GBTA Executive Director Suzanne Neufang
“The headwinds that were anticipated to impact the rebound of global business travel over the past year didn’t materialize and that is good news. This latest forecast now indicates an accelerated return to pre-pandemic spending levels sooner than anticipated as well as growth ahead in the coming years. Business travel spending is a key indicator, but how travel volumes will continue to rebound is yet to be seen,” said GBTA CEO Suzanne Neufang. “The BTI data also reflects the remarkable efforts of the industry to adapt, innovate, and thrive despite the challenges, along with the ongoing role and value of business travel to economies, companies, and professionals worldwide.”
Some of the report’s findings:
- In 2022, global business travel spending rose 47 percent to $1.03 trillion. These strong gains have continued into 2023, with 32 percent growth in global expenditures expected this year. The estimated breakdown of the $1.03 trillion in business travel expenditures includes $183 billion in air spend, $395 billion in lodging spend, $191 billion in food and beverage spend, $138 billion in ground transportation spend, and $121 billion in other travel expenses.
- Recovery in business travel continues to vary by region. Western Europe was the fastest growing region globally in 2022. North America and Latin America saw spending growth accelerate significantly in 2022. Emerging Europe continues to lag in its recovery, challenged by the war in the Ukraine. Further, although China lags behind the rest of the world due to its late economic reopening, is it projected to claim the top spot in 2023.
- The industries with the strongest resiliency include construction, education, and professional, scientific, and technical activities.
- GBTA is keeping an eye on factors that could impact future projections, including increased focus on sustainability initiatives, widespread adoption of meeting technologies, growth in the remote workforce, and the rise of blended travel (bleisure).
- Business travelers globally currently estimate their own business travel spending, on average, amounts to $1,018 per person per trip. On average, lodging accounts for $391 while ground transportation clocks in at $136. Also, bleisure is still a rising trend.
GBTA members can download the full report on the GBTA Hub.
Visit gbta.org for more information.