A survey of corporate travel buyers from around the world in 2017 by ACTE highlighted how business travel preferences are changing by an increase in use of market disruptors such as sharing economy lodgings (up by 25%), app-based transportation (up by 56%), and ride shares (up by 50%).
A hot topic for business in 2018, Behavioral Economics, is a relatively new field that combines insights from psychology, judgement, decision making and economics to generate a more accurate understanding of human behavior (Harvard Business Review 2017).
FCM Travel Solutions India recently released a white paper on business travel in India. The white paper looks at the emerging trends and opportunities business travel in India faces and highlights how travel in India will treble from the present level by 2030 and will grow at the rate of 12% over the next five years.
The sharing economy (also commonly known as peer to peer or p2p) refers to individuals renting things they need from others using technology-based networks that facilitate transactions.
As travel spend rises, so too does the criticality of travel management. In 2016, half of corporates spending half a million (or more) on travel contracted with a single TMC for managed travel services worldwide. We live in a global economy, so why wouldn’t you employ a TMC that really can deliver globally?