FCM Consulting Global Quarterly Trend Report Q2-2023
Q2-2023 is one of two halves. One sees the Northern Hemisphere push travel demand over summer, while the other sees the rest of the world plateau. As the volume of business trips increases and travel patterns stabilise, disruption remains, and many organisations are thinking about how to make travel budgets stretch further.
With all eyes on business travel expenses, FCM Consulting’s Quarterly Trend Report Q2-2023 highlights pockets of opportunities in supplier pricing which could assist those travel managers hoping to control corporate travel costs. It also highlights opportunities in partnerships that will deliver a different experience for the traveller. Additionally, with hybrid working and remote work weighing in on corporate travel policies, the team reveals the factors and advice to navigate these travel trends.
Business travel trends from Q2-2023 include:
Overall, seat capacity in 2023 is still lower than 2019, but gathering pace most in North America and the Middle East.
Global hotel occupancy for year-to-date June-2023 was 63.6%, which is 96% recovered compared to the same period in 2019.
Europe saw the highest increase in hotel average room rate (ARR) at 12%, while the Middle East saw the biggest decrease at 19%.