TMCs adapt to evolving business travel trends
A growing number of TMC members now expanding into leisure, and more of their leisure agents beginning to offer travel management services
Based on feedback from the consortium's member TMCs and data from technology partner Travelogix, Advantage provided the following updates on emerging trends.f
Key takeaways
- Leisure-like Control: Clients are giving travelers more flexibility by offering a total trip budget instead of specifying flight classes or hotel star ratings, catering to a more leisure-like booking experience;
- Advance Booking Trends: Business travel is now planned an average of 34.01 days in advance, an increase of 5.41 days from the 2023 average;
- TMC Diversification: Advantage reports an increase in travel management company (TMC) members branching out into leisure travel, while more leisure agents are beginning to offer travel management services;
- Changing Travel Purposes: The focus of business travel is shifting from traditional client meetings to attending events, conferences and collaborating with colleagues in a remote work environment;
- Economy Class Bookings on the Rise: Travelogix data reveals a drop in premium cabin bookings, with first and business class falling by 1.15% and 6.99% respectively, while premium economy saw a slight increase.
Get the full story at The Business Travel Magazine