Travelers who plan to work at least part of the time during their summer break this year are creating a spike in travel demand, according to new research from business consultancy Deloitte.
The report analyzed traveler behaviors and preferences and showed that COVID-19 travel concerns have subsided. However, those concerns have been replaced by financial concerns, with many travelers keeping a close eye on higher costs.
After being decimated by the pandemic over the past two years, business travel is expected to return to pre-COVID numbers by 2024, according to the Global Business Travel Association (GBTA).
GBTA generally refers to business travel combined with leisure travel or tourism as "package travel." Other organizations have begun calling it "bleisure" travel. Whatever the name, the trend means business travelers are adding days to the beginning or end of their business plans to relax with family and friends.
Most travelers plan to stay in the United States as concerns about international COVID-19 restrictions persist, the survey showed. As a result, US-based properties, airlines and destinations are expected to attract the most travel spending, with only 15% of Americans (27% of total travelers) planning to fly internationally.
Deloitte InsightsHigh international airfares could be a factor, along with unpredictable entry and exit regulations and the possibility of being stranded abroad after testing positive for COVID-19. The US hospitality industry has a busy summer ahead, with 67% of travelers planning hotel stays and 16% planning rental stays, according to the Deloitte survey.
Since February, business travel has seen a double-digit increase, according to the GBTA's April Business Travel Recovery Survey. When asked to characterize their company's travel spend compared to 2019, on average, respondents expect their company to return to 59% of its pre-pandemic spending levels by the end of this year, reaching 79% by the end of 2023.
Deloitte, which surveyed 4233 Americans from March 23 to 30, found that workplace flexibility, which allows employees to work remotely from anywhere, continues to rise and has had a marked effect on rising job losses. business trip.
One in five people surveyed (20%) by Deloitte said they planned to work during their longest summer commute. Those who plan to combine leisure and work also tend to take longer trips and travel with larger groups. Three of the four respondents (75%) indicated that their longest trip will last between one and three weeks. And four out of five said they plan to extend their summer commute because they can work remotely. A third plan to extend your trip by one or two days; another third plan to add three to six days.
Deloitte's findings were backed up by the GBTA investigation.
In a survey conducted by the organization late last year, business travel managers were asked if more employees wanted to extend their business trips for leisure compared to before the pandemic. At least 82% said their employees were as or more interested in package travel than before.
Most travelers considering a mixed trip tend to be younger and wealthier, according to the Deloitte survey. Those who identified themselves as between 18 and 34 years old are five times more likely to work during the holidays, and those who report an income of more than €100,000 a year are twice as likely to do the same.
Deloitte Insights"To that end, 40% of them say their travel budget this year is above pre-pandemic levels..." Deloitte said.
Those involved in leisure travel tend to prefer private rentals. While 20% of global travelers plan to stay in private rentals this summer, bleisure travelers are twice as likely to do so. Also, they are more likely to use private rentals for future trips; Deloitte said the additional office space makes rentals more attractive.
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