September 19, 2018

4 Trends in U.S. Corporate Travel

Phocuswright has identified key insights into the solid and steady rise of the U.S. corporate travel segment in 2017, based on a combination of market sizing, travel spend estimates from U.S. supplier revenue, a travel manager survey, and industry executive interviews.
Helped by rising business confidence and innovations driving traveler behavior, the managed corporate segment represented about a third of the total U.S. travel market and reached US$119 billion in 2017.

Here are four trends Phocuswright analysts identified in the U.S. corporate travel segment:

  1. Simplifying the travel program to make it easier for travelers to make the right choice and trust the process, including seamless integration of payment and expense.

  2. The return of bleisure Ð extending business trips for a leisure stay to explore a destination is making a return on the agenda.

  3. Virtual cards and digital wallets Ð but it will take some time before they're implemented on scale.

  4. Shifting travel decision-making from marketing/procurement to the chief technology officer (CTO) Ð it's important to integrate a company's travel program with its enterprise resource systems to drive future decisions.

Increasing Traveler Satisfaction

Despite the global economy's twists and turns and the possibility of a global trade war looming, the U.S. corporate travel market is expected to continue on its growth path.

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Analyst: Phocuswright Research

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