15.1 C
December 2, 2023
Tourism Quest news

Most Travel Managers Across Asia, Australia and MEA Expect 2023 Corporate Travel Volume to Exceed Pre-Pandemic Levels According to Latest Cvent Travel Manager Reports

Most Travel Managers Across Asia, Australia and MEA Expect 2023 Corporate Travel Volume to Exceed Pre-Pandemic Levels According to Latest Cvent Travel Manager Reports

92% of Travel Managers across Asia and Australia prioritise sustainability and environmentally friendly venues during planning

Cvent, a market-leading meetings, events, travel and hospitality technology provider, published the latest instalments of the Cvent Travel Manager Report, which provides in-depth insights into current corporate travel trends and activity. Regional editions with localised data sourced from hundreds of corporate travel decision makers were published for Asia, Australia & MEA. Collectively, the reports reveal significant levels of optimism amongst corporate travel managers and highlight the pivotal role technology will play in the corporate travel sourcing process.  82% of respondents expect corporate travel volumes at their organisation to increase in 2023 relative to 2019 in MEA, followed by 75% in Australia and 74% in Asia. 

In addition, the report shows the increasing impact sustainability has on choice of venue, highlighting the critical importance of hotels to showcase not just their unique facilities and points of difference, but their sustainability efforts and initiatives to better attract todays’ corporate travel buyers. The findings also reveal that organisations in Asia and Australia will witness an increase in travel to Asia and Europe. For corporate travel decision-makers in MEA, the regions where travel managers are most likely to increase travel volumes for their organisation are to the Middle East/Africa (61%), and Asia (47%). 

Graham Pope, Vice President, International Sales, Cvent
Graham Pope, V.P, International Sales, Cvent

Graham Pope, Cvent Vice President of International Sales, said: “The results in this report illustrate that because corporate travel momentum has continued to grow and needs have evolved, hotels must understand their buyers’ decision-making processes, preferences and budget expectations to attract them to their properties and stay ahead of the competition. The travel resurgence has also manifested higher expectations from the clients, with sustainability at the top of the list. With many hotels operating with smaller teams than pre-pandemic, this report offers critical insight into where hospitality professionals can focus their efforts and leverage technology to work more efficiently and maximise impact.”

Additional highlights include:

Interest in Dual and Dynamic Rates Increasing –

  • The report reveals that 84% in Asia, 81% in Australia and 82% in MEA say their interest in such an approach has increased for the 2023 RFP season. To win business in 2023, hotels must understand their potential customers’ rate strategy and expectations and establishing a willingness to engage and offer dual and dynamic rates offers venues the opportunity to also award discounts for loyalty, and flex prices depending on demand and availability.

Trip Prioritisation and Sourcing Needs Have Evolved:

  • With budgets under pressure due to rising costs, travel managers are increasingly asking whether trips are truly necessary, and how each one fits into a new formula of cost versus value. Almost half (46%) of travel managers in Australia followed by 45% in Asia and 42% in MEA, are taking this approach. Once the trip is approved, travel managers rigorously compare hotels on a shifting set of priorities including cost savings, rate flexibility and sustainability.

Rising Costs Spur Budget Increases:

  • Approximately 80% across Australia, MEA, and Asia say their travel budgets will rise in 2023, including 34% who predict it will increase significantly. However, travel managers are proactively looking for ways to reduce accommodate budgets to help offset the rising cost of travel. Hotels can highlight unique experiences and offer incentives to encourage additional spend onsite.

Related posts

Margarita Presents Slow Smoked BBQ Wednesdays: A Unique Mexican BBQ Experience in Goa  


Time for Holiday Season Indulgence at Amaltas – Indian Tapas & Bar


14 Indian Delegates Reconnected with New Zealand Tourism Industry after Three Years at TRENZ 2023


Leave a Comment