There are signs that travel will resume but at a reduced level similar to the likely impact the pandemic will have on the demand for commercial office space. One of the most direct statements supporting that scenario was made by Anton Chilton, CEO of manufacturing software vendor QAD, during a webcast for earnings for the third quarter ended October 31. “With the success of our remote working practices, for example, we do not anticipate a return to prior spend levels in travel. We are also in the process of a comprehensive review of facilities and office capacity and foresee opportunities to reduce expenses in those areas in the future too,” Chilton said. Let’s distinguish between conference and non-conference travel as they serve different needs. But both are likely to be impacted. With the increasing adoption of cloud computing, businesses have increasingly turned to supporting clients remotely. The likely outcome in both areas of travel is not a future in which travel is dramatically reduced, but one that blunts the growth of travel by removing at least a slice of this market. Conferences are likely to also be dampened, but will not see dramatic reductions. I have felt for some time that many conference are in the need to have bigger-and-better with each year, something that is not good for the sponsors or attendees. What we will likely see if conference goes will not avoid shows but reduce the numbers showing up in person. So a firm that might send 30 staffers to a conference will send 25 with the others attending virtually. It’s possible; that attendance will benefit sponsors by having more people, just not all on-premise.
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WEIGHING FUTURE OF BUSINESS TRAVEL Featured
Businesses have saved a lot of money with the near shutdown of business travel. But once the pandemic ends, how close will levels of travel come to pre-COVID-19 pracitces?
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