In 2024, business travel spending will reach pre-pandemic levels. This is the forecast - in line with Deloitte's estimates - of the Business of Travel report conducted by Accor to investigate the real value of travel, taking into account both the needs that these entail in environmental, social, and governance terms and the future priorities of companies.
The survey highlighted how the budget for business travel is currently only 24% lower than in 2019 and how a return to pre-Covid numbers is expected by next year: 57% of those interviewed state that - compared to 2023 - in 2024 there will be an increase in spending. Specifically, companies place the "travel experience" second among their priorities, immediately after cost savings.
By always taking into account value, sustainability and a necessary balance between work and leisure that ensures employee well-being, companies can increase revenues and strengthen face-to-face relationships."
Among the advantages of this type of interaction, experts estimate a 25% increase in turnover when meetings take place in person. And factors such as the mental health of colleagues and collaborators and their job satisfaction also come into play.
The interaction is even more important in Southern European Countries like France, Italy, and Spain, where the main activities are B2B workshops, networking gatherings and seminars/presentations.
Our main objectives for 2024 will be to cooperate, with the most relevant organizer of operational activities and be more present in the three markets. We will focus on the local workshops, networking activities, and presentations to initiate a dialogue with possible potential customers. We decided to have at least 50% of our activities where our Norwegian partners, hotels, DMCs, convention bureau, etc, etc, can be part of it together with us.