All is not lost, though. While luxury travelers are weighing their options at record rates, the answer is found in another survey by MMGY Global. Its findings revealed that leisure travel is rebounding quickly once again, but business travel isn’t coming back in the same way. The firm said in its Business Travel Outlook 2015 report, which surveyed a representative sample of European business travelers, that “59 percent said they would forego an overseas trip and 46 percent cited tighter work schedules for limiting trips. Price remains a top consideration for consumers in the midst of an economic downturn. Among consumers actively planning leisure trips in the next three months, 41 percent said the price of their trip was either the most important factor (30 percent) or one of the most important factors (11 percent). The second-most-important factor for leisure travelers after price was convenience and ease — a category that includes accommodations with amenities such as free breakfast and other perks expected by many business travelers.
Even with the recent issues surrounding Ebola, Leisure travel continues to rebound. The world has been in a state of flux over the past few months and this is reflected in the way that Americans are traveling. The good news for tourism-based companies is that leisure travel rebounded again, over September and November, it continues to pick up pace each month. Americans’ attitude towards safety measures continued to be a top priority for travelers booking transportation; however, the number has leveled off as the pandemic begins to wane. In addition to these concerns, there are still plenty of traveler-friendly destinations that boast great weather, natural wonders, and one-of-a-kind experiences.
Atlanta, GA — Leisure travel rebounded off of an eight-month low while business travel dipped slightly in May. The net frequency of leisure travel (measured by the percentage of travelers who made a trip or vacation involving air or hotel accommodations) jumped 4 points to +20%. Business traveler frequency dropped slightly to -2%. That said, the number has leveled off as the pandemic begins to wane.
Last spring, most leisure travel industry analysts and experts were not overly optimistic about the rebounding of business travel. They were predicting that business travel would take a lot longer to return. Well, folks, they appear to have been right. There has been little change in the expectations of business travelers since the fall, says a new research study.
It’s official. Leisure travel is back and business travel is down — and trending lower than the year before. If you own or work in a business that depends on traveling customers, this is disturbing news. What’s more concerning for businesses that rely on business travel – is that this trend may stick around. According to Morning Consult’s data, the number of pre-pandemic business travelers who say they will never take a business trip again has grown in multiple markets, suggesting that the extended downturn is becoming ingrained in permanent behavior.
Everyone who is into business knows that one of the biggest challenges is to balance work and pleasure. In the past, business travel and family time have often been a difficult combination to manage. However, hospitality companies have caught on to the fact that customers want more and are becoming better at accommodating users’ needs.
