As the global business travel industry rebounds from the impact of the COVID-19 pandemic, Canadian companies are gearing up to capitalize on the opportunities and navigate corporate travel challenges in 2023. Recent research has shed light on key trends, challenges, and considerations in the Canadian business travel landscape. Here, we'll explore the unique challenges and opportunities within Canadian corporate travel and discuss regional differences, airline options, and industry trends.
Positive Outlook for Business Travel in 2023
The outlook for business travel in 2023 is optimistic, with 64% of travel managers expecting an increase in travel booking activity. Among these, 23% anticipate a substantial increase of more than 30%. This positive trend results from the continued recovery of the workforce travel industry, which faced a significant slump in the past three years due to the pandemic. The research also indicates a resurgence in in-person meetings and events, with 41% of travel managers planning to book at least one large-scale in-person appointment or event for 10 or more people. However, not all businesses are on board, as 23% responded that there would be no large-scale in-person meetings in the year ahead
Challenges in the Business Travel Landscape
While the outlook is largely positive, travel managers will face certain challenges in 2023. The primary concern for 31% of travel managers is hotel prices, followed by accommodation availability, which is a concern for 27% of travel managers. These challenges can be mitigated using specialized accommodation booking platforms like BNW For Business, which offers exclusive rates and access to a wide selection of competitive hotels. Additionally, 59% of travel managers are uncertain about the impact of rising costs of living on their travel booking activity
The Growing Importance of Traveller Satisfaction
Travel managers are placing greater emphasis on traveller satisfaction, with 20% considering it a priority in 2023, up from 11% in the previous year. BNW's live Duty of Care map is one tool that can assist travel managers in keeping track of the whereabouts of their workers, ensuring staff well-being and high traveller satisfaction. Employee well-being is a growing trend that businesses must prioritize to create positive travel experiences for their workforce
Regional Differences and the Industry Trend of Bleisure
Canadian corporate travel presents unique opportunities and challenges that vary by region. Travellers should familiarize themselves with regional business culture, geography, and history to ensure smooth interactions with local business partners. Industry trends, such as the rise of bleisure travel (combining business and leisure), have become integral in corporate travel and will shape the future of Canadian business travel.
How BNW Business Can Help You Mitigate and Take Advantage of the Business Travel Landscape
In conclusion, Canadian business travel in 2023 is expected to see continued growth and recovery. While challenges such as hotel prices and accommodation availability persist, travel managers can leverage BNW Business's Ultimate Toolkit for Corp Travel to create positive travel experiences. The comprehensive travel management solution streamlines corporate travel booking, improves cost efficiency, and ensures travel policy compliance. With features such as cost control, 24/7 customer support, negotiated rates, carbon tracking, invoicing and reporting, and fraud control, BNW Business empowers travel managers to mitigate challenges and capitalize on opportunities.
BNW Business also offers unrivalled airline access, including direct connections to major carriers like Air Canada and WestJet and seamless integration for efficient travel management. The platform's administrative control features allow travel managers to manage costs, ensure duty of care, and implement approval options that align with their travel policies. Additionally, BNW Business's price policy tool allows employees to book their own price-compliant trips, giving travel managers peace of mind that their travel spending is within budget.
Get started with a free trial of BNW Business and discover how their innovative features can help your business succeed in streamlining the travel management process and taking full advantage of the unique opportunities within Canadian corporate travel. Read More About BNW For Corporate
