When Covid-19 shut down economies around the world last spring, it also stopped all those trips business executives make to customers, suppliers, conventions, trade shows, and their company offices. Almost overnight, millions of people globally began working from home and using video-conferencing technology to transport themselves to meetings and negotiate deals.
Eight months later, the situation hasn’t changed dramatically when it comes to business travel. And, there’s mounting evidence that the category — the most profitable for airlines and other hospitality companies — may never fully reconstitute itself. At the very least, we anticipate business travel to remain depressed through 2023.