FCM Travel Solutions has released its 2016 global traveller insights report detailing business travel trends and statistics from around the globe. Key outtakes include:
- The average cost of a business trip has only risen by $62USD in 10 years (from $785USD in 2005 to $847USD in 2015)
- The number of trips taken annually has almost doubled in the last 10 years (from 3.5 per annum in 2005 to 6.1 in 2015)
- The top five international destinations for business travellers are London, Dubai, Singapore, Frankfurt and Sydney
- ‘bleisure’ now accounts for up to 30 per cent of all bookings made with FCM
The organisation's global director of account management, Felicity Burke said that the document serves as an interesting snapshot of travel in 2016 and can assist organisations and procurement in better understanding the shifting needs of the different travellers within their business.
"As managed travel continues to diversify, keeping on top of who your travellers are and what they want is paramount not only for travel management companies like FCM, but for procurement teams and decision makers who are ultimately sourcing solutions for these travellers," said Felicity.
The infographic, titled ‘Unpacking our traveller’, outlines statistics such as generational mix of travellers globally, average number of trips taken per annum as well as year on year comparisons of average cost per trip and number of days spent away for business.
The research uncovered that "bleisure" now accounts for up to 30 per cent of all bookings made with FCM, as more travellers extend pre- or post- work trip to get a "live-in" experience of the destination they are visiting.
"This increased uptake of bleisure could be a sign of larger numbers of millenials (ages 18-35) in the workplace, who are known for seeing business travel as an opportunity to explore the world on a lean budget. We expect this number only to increase as Gen Y are expected to account for 75 per cent of the workforce by 2025," said Felicity.
Andy Jack, FCM Travel Solutions general manager NZ says, “in New Zealand we’ve definitely seen the emergence of a new breed of business travellers and a blurring of business rules. It’s all about combining productivity, hard work and opportunity to enjoy the job.”
“Millennials are different to Gen X and Baby Boomers, their wants are for greater choice, unique experiences and constant connectivity as they are always “on” and they work hard. Their appetite for travel is greater and they often want a leisure experience, this is a good thing as although they are always “on” and connected this seeking of balance can avoid burn out.”
“Conversely Gen X are more aligned to fly for purpose and are often last in and first out, their desire for balancing home life and work life influences their travel patterns.”