Travel and the new work paradigm

The shift to remote work has been a major trend, but a more subtle but growing development is the ability to work from anywhere - and it's proving to be more than just a passing phase

As companies continue to adapt to this shift, many are realizing that traditional work models are no longer viable. Office towers and cubicles are quickly becoming a thing of the past. It's not just employees who are driving this change - 31% of U.S. employers have fully embraced remote work.

Key takeaways

• With millions of people no longer commuting daily, the ripple effect on industries that rely on business travel is significant. Major cities such as New York and Singapore stand to lose a significant number of business travelers, impacting not only leisure tourism, but more importantly, corporate travel;
• An impressive 13% of employees plan to work remotely from another country for at least a month, and one in four companies already allow employees to work from anywhere. The travel and hospitality industry must adapt to this new reality;
• The once-reliable business traveler who formed the backbone of hotel chains, airlines, and urban restaurants is now more likely to zoom in from a tropical beach or a rural Airbnb. As a result, the economic landscape is changing dramatically. nderpinnings of our major conurbations are beginning to fray.

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