FCM Consulting Global Quarterly Trend Report Q2-2023
Corporate travel in Q2-2023 has two distinct stories. In the Northern Hemisphere, it’s a tale of demand levels spilling out into the summer. But the rest of the world’s demand is hitting a plateau. Globally, as business trip volume increases and travel patterns stabilize, disruption remains, and many organizations are considering strategies to stretch travel budgets further.
What pockets of business opportunities are there in supplier pricing to help rein in corporate travel costs? FCM Consulting’s Quarterly Trend Report for Q2-2023 highlights this, as well as intel on how hybrid and remote workers are changing travel policies. Download the report to get advice on navigating these and other trends.
Business travel trends from Q2-2023 include:
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Overall, seat capacity in 2023 is still lower than 2019, but gathering pace most in North America (+2.7%) and the Middle East (+2.4%)
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Domestic air fare pricing is being affected by multiple factors, resulting in a +9% increase in U.S. and +3% Canadian fares
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Regional hotel average room rate increased across most regions, driven by the northern summer (Europe, +$24, North America, +$21)