Study Finds COVID-19 Vaccine Key To Recovery of Business Travel

Business travel is on track to return to 70 percent of pre-COVID-19 levels by the end of 2021, with nearly two out of five business travelers around the world indicating that receiving the coronavirus vaccine is a priority before returning to travel, according to travel management consultancy GoldSpring Consulting’s Business Traveler Sentiment Survey.

The study of more than 15,000 travelers from around the world found that a majority of business travelers (63 percent) aim to travel within the next six months or by October 1. While 26 percent of business travelers see themselves returning to the office by May 1, only six percent think they’ll travel within the next month.

Britain and France are the two countries most eager to resume business travel. Nearly one-quarter of respondents in the U.K. (24 percent) expressed a desire to travel within a month’s time while 17 percent of business travelers in France aim to venture out by May 1.

The ongoing rollout of the COVID-19 vaccine is a big reason for the return of traveler confidence. According to the Business Traveler Sentiment Survey, 39 percent of business travelers believe vaccination is a priority before traveling, with 19 percent opting for travel supplier screenings and temperature checks.

A vast majority of business travelers are confident in hotels’ enhanced health and safety protocols. GoldSpring Consulting’s research shows that nearly nine out of 10 business travelers (89 percent) choose traditional hotel stays over shared lodging. Many business travelers are reevaluating transportation; however, 74 percent say they now consider driving versus flying or rail travel for certain trips.

When it comes to attending their first large meeting of more than 25 people, most business travelers (44 percent) believe the timeline is 90 days to six months or sometime between July 1 and October 1.

“While the results are optimistic for business travel to return significantly by the end of the year, it will be necessary for companies to check in routinely with travelers,” GoldSpring Consulting partner Will Tate said in a statement. “Companies can join the survey now and also redeploy it over time to gauge change in sentiment as travel ramps up in the coming months.”