Canadian employees are increasingly willing to travel for business in 2024, as per a recent survey. The survey reveals that nearly half of business travelers, accounting for 48 percent, express satisfaction with traveling this year, marking a significant increase from just 36 percent in 2023.
Moreover, the survey indicates a rise in the frequency, duration, and number of business trips undertaken by Canadian employees. Approximately half of the respondents stated that they embarked on more business trips in 2023 compared to 2022, with 48 percent confirming this trend. Additionally, many respondents noted that these trips were longer in duration, with 40 percent mentioning extended durations, and included more meetings per trip, as stated by 43 percent of respondents. These findings were unveiled by a survey conducted by World Travel Protection (WTP).
Frank Harrison, the regional security director for the Americas at WTP, expressed optimism about the growth in the number of business travelers enjoying their travel experiences. He emphasized the importance of personal connections made through business travel, highlighting their role in fostering creativity, innovation, and driving industries forward. Harrison also highlighted the primary drivers for business travel, emphasizing the significance of in-person meetings with vendors for signing contracts, procurement, mergers, and acquisitions.
However, despite the enthusiasm exhibited by business travelers, there has been a noticeable reduction in business travel budgets by employers. According to the survey conducted by WTP, one-third of Canadian business travelers, equivalent to 32 percent, have reported the need to be more cautious about their travel expenditures. Additionally, 20 percent of respondents mentioned that their organizations are significantly more hesitant to approve business travel.
Frank Harrison elaborated on the reasons behind the business travel budget cuts, identifying two primary factors: sustainability goals and economic costs. He explained that many businesses are aiming to enhance their sustainability scores by reducing travel-related carbon footprints. This aspect has prompted them to cut down on travel budgets as part of their sustainability initiatives. Additionally, businesses are facing financial challenges in the post-pandemic recovery phase, making it difficult for them to support pre-pandemic levels of travel expenditure.
Safety and well-being concerns have also emerged in association with business travel, with 60 percent of business travelers expressing apprehensions about compromised safety due to budget constraints. Harrison emphasized that the reduction in travel budgets can lead to wider safety concerns, citing examples such as opting for less expensive accommodations in high-crime areas, which not only pose physical safety risks but also cause anxiety among employees.
Harrison underscored the evolving global landscape and its impact on business travel, citing recent geopolitical tensions and global events that have reshaped travel dynamics. He emphasized the need for businesses to adapt to these changes and prioritize the safety and well-being of their employees during business travel.
From an HR perspective, Harrison outlined strategies to improve business travel support for employees. He emphasized the importance of taking a holistic approach to travel approval and programs, considering factors such as destination risks, traveler activities, and communication protocols. Additionally, he highlighted the significance of educating travelers about potential risks and providing them with tools to make informed decisions during travel. Lastly, he stressed the importance of implementing measures to locate and assist business travelers in case of emergencies or unforeseen events.
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