Business travel not going back to normal - ever

The days of high-flying, big-spending business travel may be over for good, according to a new report by research company Morning Consult

Tighter corporate budgets and new ways of virtual working have permanently changed business travel, according to the report, titled “Business, but Not as Usual.” A different business travel model is slowly but surely becoming entrenched, crystallizing a “new normal” for the industry.

Key takeaways

• One-third of ompanies had changed their business travel policies, most commonly by reducing the frequency of business trips (60%) or by sending fewer employees on trips (56%);
• The demographics are changing too - business travelers are now younger and more likely to fly in economy class, with about half earning less than $50,000 a year;
• Trips highest on the chopping block include company retreats, trade shows and incentive travel;
• Climate concerns and the pressure to meet sustainability goals will likely affect corporate travel gains for years to come.

Get the full story at CNBC and Morning Consult