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According to the latest poll from the Global Business Travel Association (GBTA), more companies are reporting a willingness and actual return to business travel, with domestic travel taking the lead. However, government restrictions on international travel continue to hinder the ability for companies to conduct key business functions. This poll is the 21st in a series tracking the pulse of GBTA’s membership of global travel buyers and suppliers and how the travel industry overall is managing the return to business travel, post pandemic. The poll was conducted July 6-13, 2021.
This latest poll shows a 12 percent increase compared to last month in companies opening travel and fewer companies suspending or cancelling all travel. Domestic business travel is now widely allowed and corporate bookings and travel spend continues to rise month on month. And three in four (77 percent) GBTA members and stakeholders feel their employees are ‘willing’ or ‘very willing’ to travel for business in the current environment.
However, half (52 percent) of GBTA respondents report that government policies and restrictions relating to international business travel continue to impact their companies’ ability to conduct important business functions such as networking, business prospecting, planning and sales meetings.
“There is clearly an appetite to resume non-essential business travel and in-person meetings to promote collaboration, networking and business opportunities. And interestingly, it doesn’t appear that cost savings are necessarily a key driver in waiting to get travelers back out on the road. However, government policies and restrictions on international travel continue to hinder progress in pursuing activities so important to conducting business,” said GBTA CEO Suzanne Neufang.
Indicators show strong demand for business travel’s return
- Optimism steady. GBTA poll respondents continue to be optimistic about the industry’s path to recovery. Half (54 percent) report they feel more optimistic compared to a month ago whereas two in five (40 percent) say they feel the same. Only six percent say they feel more pessimistic about the industry’s path to recovery.
- Willingness to travel. Three in four (77 percent) GBTA members and stakeholders feel their employees are ‘willing’ or ‘very willing’ to travel for business in the current environment. The remaining members feel their employees are not willing (4 percent), are neutral (12 percent) or are unsure (7 percent) of their willingness to travel for business. And desire to serve their customers is a key driver, with greater willingness to travel for sales and account management (59 percent) and service trips (56 percent).
- Domestic dominates. Corporate positions concerning business travel vary. And GBTA respondents report that 57 percent of non-essential domestic business trips are usually or sometimes allowed, compared to 26 percent for non-essential international business trips.
- Getting back out there. Of the companies that suspended most domestic business trips, nine in 10 plan to resume domestic travel in the near future or are considering resuming domestic travel but have no definite plans. Three in ten plan to resume international travel within 1-3 months and half are considering resuming international travel soon but have no definite plans. One in ten do not plan to resume international business travel in the near future.
Restrictions continue to hinder international travel and hence business functions
Government policies and restrictions relating to international business travel continues to impact GBTA member companies and their ability to carry out important business functions. Over half (52 percent) of GBTA member and stakeholders report that networking, business prospecting (51 percent) and business planning and strategizing (50 percent) are impacted by these policies.
Respondents based in Europe were more likely to cite the impact of government policies and restrictions on key business functions compared to those based in North America. And it was significantly higher regarding the ability to network, conduct sales meetings and train or develop employees.
You can view more details and key highlights from GBTA’s July 2021 poll here.
Visit gbta.org for more information.
[07.20.21]
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Strategy Leaders Founder Andi Gray
Business consulting firm Strategy Leaders will hold an upcoming webinar called Buying In: How Smart Small to Midsize Businesses Grow by Acquiring Other Companies on July 28 at 12:00 p.m. ET. Hosted by Strategy Leaders Founder Andi Gray, an award-winning business leader and frequent CD speaker and author, this information session is aimed at owners of companies with 10-200 employees who are looking to grow their footprint through buying another business.
Acquisitions are a great way to grow, and there are opportunities out there as owners look to cash out or partner with other companies. If you’re considering taking your company to the next level in the near future, or even if you’re looking to sell, this webinar will offer advice and tips on how to do it right.
Points that will be addressed:
- Why buying a business is such a crucial tool for any small business owner to master
- How to buy a business so that you end up with what you want and need for your small business growth
- The warning signs and advice so that you don’t overpay
- How to make a great deal
- What happens after the acquisition deal is done
- Identifying a business to buy, getting the right valuation, and putting the team together to help you navigate all the steps of your purchase
Register for the seminar here.
Gray also hosted a workshop on valuations and understanding small to midsize business value on June 16, which is available now on Youtube.
More information about the session is available here.
[07.14.21]
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On July 13, the Illinois Limousine & Bus Association (ILLBA) hosted another Coffee With ILLBA educational webinar. This session was of particular interest to Chicago-based operators and dealt with upcoming changes with the city’s controversial Charter/Sightseeing Ordinance.
ILLBA Executive Director/Secretary Paula DeBiasi
Since 2016, all vehicles traveling in Chicago with 15 or more passengers have been required to have a licensed security guard on board. While the law was in place to curb violence seen on party buses (which were often unlicensed), it also held true for school trips and corporate moves. However, thanks to the new Chi Biz Strong Initiative designed to increase tourism and business in the city, industry advocates such as ILLBA were able to convince the city to alter the ordinance. Changes go into effect August 1.
- For trips with no drinking:
- Vehicle must be city licensed
- Chauffeur assumes role of security
- Working security camera on board
- Written trip itinerary and written safety/security plan
- For trips with alcohol on board:
- Vehicle must be city licensed
- Licensed security guard on board the vehicle (in addition to chauffeur)
- Working security camera
- Written trip itinerary and written safety/security plan
ILLBA President Tracy Raimer
In addition, ILLBA stated their intention to create a safety/security training program for chauffeurs, which they intend to be simple and easy.
“We’re excited,” says ILLBA Executive Director/Secretary Paul DeBiasi of Chicago Coachworks. “This is a major, major accomplishment for the association.”
Sharing the excitement is Vice President Tracy Raimer of Windy City Limousine & Bus, who guesstimated that eliminating the security guard would reduce booking costs by 20-40 percent.
Chauffeur Driven President Chris Weiss
Also on the webinar was CD President Chris Weiss who discussed the upcoming CD/NLA Show in the Dallas area this October 13-16. Weiss shared that the Show Education Committee is in the final stages of planning the schedule, and that the programming will be relevant to the challenges faced by operators during the last year and a half. The always popular Affiliate Central Global Forum was also previewed, as was the perennial-favorite Operator Mentoring Program. Weiss also mentioned that associations will be represented at the show both on the show floor and as part of the Congress of Associations roundtable event.
The upcoming Midwest Bus and Motorcoach Association (MBMA) meeting on July 21-22 was also discussed on the Zoom call. Being held at the Hilton Garden Inn in Elkhart, Ind., the event will include a bus rodeo, a golf outing, and a special dinner to commemorate the association’s 10th anniversary. Attendees can learn more by visiting the MBMA website.
Visit illinoislimousineassociation.com for more information.
[07.13.21]