Top 6 business travel trends in 2024

A business traveller using a smartphone to update business travel arrangements. Picture: Supplied

A business traveller using a smartphone to update business travel arrangements. Picture: Supplied

Published Jan 22, 2024

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According to the latest trend report from corporate travel management company FCM, 2024 will be a pivotal year for South African businesses to re-evaluate their travel programmes and policies.

With major national elections on the horizon, economic uncertainty may tempt some companies to scale back travel budgets. However, FCM’s research suggests a more nuanced, proactive approach will pay greater dividends.

FCM general manager, Bonnie Smith, said that business travel is about more than just logistics and cost-cutting in 2024 and about maximising value and efficiency across your organisation.

“Rather than taking an indiscriminate, across-the-board approach to reducing travel spend, companies should focus on making strategic, intentional choices to ensure their travel investments provide the highest possible return,” said Smith.

Here are 6 top business travel trends emerging from the report that will shape business travel in 2024, according to Smith.

Return to office driving policy updates

“As remote and hybrid work lead to more in-office time, many companies are reinstating more formal travel rules. The flexibility of pandemic business travel is fading as more structured protocols are filling the gaps,” said Smith.

She said that with routine business travel resuming in 2024 and a potentially tougher global travel market, well-defined policies will be the crutch for companies looking to control costs and maximise value.

“Being smarter means establishing clear travel goals, actively engage stakeholders on policy decisions, and outline approved travel styles, service classes, preferred vendors, and expense procedures for travellers,” said Smith.

Demand growing for personalised travel experiences

Smith highlighted that business travellers in 2024 will expect and demand experiences tailored to their personal preferences, needs, and schedules more and more.

“This isn’t about employee entitlement, but making people feel valued by considering their unique perspectives. To attract, keep, and engage talent, smart companies will need to shift from one-size-fits-all travel to personalised travel and lodging options,” she said.

Smith said that while this approach requires more planning or support from a travel management partner, the benefits include higher traveller satisfaction, policy compliance, and cost savings from optimised booking behaviours.

Sustainability becoming a priority

Smith revealed that FCM’s research suggests sustainability will become a competitive edge and expectation in business travel in 2024.

“With sustainability efforts increasingly tied to attracting investors, customers and talent, travel managers will need to align policies and vendor partnerships accordingly.

“Proactive companies will set clear environmental goals, develop eco-friendly policies, use tech to track sustainability impact, offset travel emissions, and choose vendors with strong green practices,” said Smith.

Shift to quality over quantity in negotiations

According to Smith, corporate travel managers negotiating with vendors in 2024 will need to prioritise quality over quantity.

“Instead of securing as many supplier deals as possible, the focus will be on forging fewer, more impactful corporate agreements.

“Negotiations should focus not just on across-the-board price cuts, but also perks, incentives, and added value for travellers,” suggested Smith.

Resurgence of incentive travel

The FCM general manager said that the report forecasts a strong comeback and growth for incentive travel programmes in 2024 as companies recognise their impact on employee motivation, retention, and culture, however, duty of care and thorough planning remain critical.

“Savvy travel managers will conduct careful risk assessments, vet potential destinations, and ensure appropriate support for travellers,” she said.

AI and automation to enhance traveller experience

And finally, Smith said that integrating artificial intelligence and automation into managed travel programmes promises to boost efficiency, personalisation, quality assurance, and traveller satisfaction in 2024.

“By fully utilising data and predictive analytics, managers can inform strategic decisions and negotiate optimal agreements. Virtual assistants can streamline booking, provide customised recommendations, and anticipate traveller needs.

“And AI-enabled systems can completely reimagine and personalise the travel search, booking, and trip management process. The collaboration between human insight and AI will define the future of smart, efficient, and productive business travel,” said Smith.