Business travel survives the Zoom era

The headwinds that were expected to affect the recovery in global business travel last year did not materialize

As the threat of recession remains unanswered and business leaders continue to extol the virtues of face-to-face work, there are signs that business spending is beginning to increase again. It seems that the floodgates, or airgates, are slowly opening again.

Key takeaways

• Corporate demand hasn't gone away; it's just taken a break. This was evident in the airline industry, where both Delta and United reported 14% revenue increases in the first quarter. A United executive mentioned that the company had nine of the top 10 corporate booking days in its history this year;
• However, business travel still faces challenges in its recovery. While the recovery is underway, the upward trend may be limited, in part because of the costs associated with air travel and sustainability requirements;
• The resurgence of business travel is occurring alongside efforts to return to pre-pandemic work norms. Major players in the technology and financial sectors are advocating a return to a fully face-to-face workweek.

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