Excerpt from CMW

Cvent, a USA-based meetings, events, travel and hospitality technology provider, has published the latest instalment of the Cvent Travel Managers Report: Europe Edition, which provides insights into current corporate travel trends and activity.

The report reveals significant levels of optimism amongst corporate travel managers. Three quarters (75%) of respondents expect their organisation’s 2022 travel volume to eclipse 2019 levels, with more than a third (32%) citing they expect volumes to “increase significantly”.

According to respondents, reasons for increased travel volume include:

  • “There’s a need for our employees to meet face-to-face for training and business purposes.”
  • “Our business needs to learn from other markets.”
  • “We are looking to expand internationally: new partners, clients and investors.”
  • “More travel highlights our desire to expand our exposure to new markets.”

The report also indicates that organisations are keen to source travel across borders. More than 69% of travel managers in the UK and across Europe say they are sourcing internationally (both within and outside of Europe). In contrast, fewer than 8% of travel managers are sourcing exclusively domestic options, demonstrating the significant shift towards a desire to travel more broadly.

Graham Pope, vice president sales, Cvent Europe, said: “The results in this report illustrate the incredible opportunity that exists for hospitality professionals as organisations look to get their employees back on the road and engaging with their clients and prospects face-to-face to fuel their growth.

“After a difficult couple of years, such a significant resurgence in the market is great news for the hospitality industry and will especially benefit suppliers that are able to adapt their sales and marketing strategies to engage their buyers in a more dynamic way. While labour shortages are still a challenge, we hope this positive momentum inspires a greater focus on the critical importance of the hospitality industry, and the people who help deliver incredible experiences.”

Click here to read complete article at CMW.