Business Travel Updates and Insights: 14 August 2020

Marketing Team

August 14, 2020

Tesla and Microsoft look for better business models from TMCs

This week Skift reported that the industry is looking for more sustainable business models used by Travel Management Companies and that the current fee-per-transaction model isn’t fit for purpose. COVID-19 has highlighted that agencies were severely restricted in their commercial options, while a flat-fee subscription model wouldn’t be appropriate for a corporate during the downturn in business travel. Dynamic pricing has been touted as one solution allowing TMCs to adjust their commercials based on market conditions.

Business Travel Show, London, postponed until June 2021

Europe’s major business travel event, the Business Travel Show, has been postponed from its scheduled dates in February to 22nd-23rd June 2021. BTN Group organizers said that after much deliberation, the date needed to move to reduce the risks of an extended and bumpy recovery. Oversee is a long-standing participant in the Business Travel Show, winning its Innovation Awards in 2017 and returning to sponsor them in 2020.

Shutdown will cut into competitive advantages.

On August 11th, Financial News London reported that the impact of shutting down business travel during COVID-19 may be much more widespread than previously thought. Countries and companies with comprehensive international business presence tended to have the highest ROIs attached to business travel, being able to translate that into higher productivity, employment, and financial gain. The article states that Singapore, Hong Kong, Belgium, Denmark, Switzerland, Ireland, and Austria benefit significantly from knowledge inflows due to business travel – and may be the most affected by its stagnation.

A temporary capacity peak in air supply?

Business Travel News reported Michael Baker said that global airline capacity is hovering around the 60 million seat mark, according to OAG. Could this imply we have reached a temporary supply cap as legislative air travel restrictions mean O&D combinations that can be flown are?

Is now the perfect time to time to upskill?

Corporate travel agents using Sabre GDS may have the perfect way to upskill during the current climate. As reported in the Travel Daily News this week, the Travel Staffing Group and Sabre have created a 60-day free training course to use their downtime to add additional skills to their repertoires. Since fewer flights are booked this year, many travel agents have been furloughed and even laid off during COVID-19. Is this a silver lining to improve employability during the industry’s recovery?

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Press Release

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