6 Top business travel trends for 2024
You can make 2024 a game-changing (and cost-saving!) year in business travel. FCM's new must-read “2024: The Year of Smart Travel” report spotlights big shifts ahead. As GM Bonnie Smith explains, with elections and economic headaches looming in South Africa, savvy travel managers need to level up their approach beyond just logistics and cost-cutting.
The key in 2024 is extracting maximum value and mileage from every travel rand spent. “Companies should focus on making smart, intentional decisions to ensure they get the best bang for their travel budgets and their travel programme,” says Smith.
How? Smith boils down need-to-know travel trends - from AI assistants to incentive trip comebacks - and actionable tips to stay competitive by spending smarter, not just less!
1. Return to office revives formal travel policies
Hybrid work's glory days are fading as on-site days tick upward across SA businesses in 2024. Cue the comeback of stricter travel policies to control costs.
Adapt and fly: Well-defined travel policies will be the crutch for companies looking to control costs and maximise value, says Smith. Being smarter means establishing clear travel goals, actively engaging stakeholders in creating a travel policy, and outlining approved travel styles, service classes, preferred vendors, and travel expense procedures for travellers.
2. Personalised travel experiences become the norm
Cookie-cutter trips are so 2023! Tailored travel which meets individual needs and preferences will be standard as companies compete for talent.
Adapt and fly: Personalisation powers up the traveller experience. Business trips in 2024 must fit travellers like a glove (not a mismatched sock), tailoring to unique needs and desires instead of a one-size-fits-all approach. Though it requires extra coordination, personalised travel builds traveller satisfaction and compliance while optimising bookings for savings. Here’s where your business travel management partner FCM can help.
3. Sustainable travel gives companies a competitive boost
Eco-conscious businesses will lean into offsetting emissions, green vendor selection and measurable sustainability goals to underscore social responsibility.
Adapt and fly: 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 must 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. Have you looked into a more eco-friendly travel policy? The time is now.
4. Quality over quantity becomes the negotiation mantra
Forget volume discounts - travel managers will score targeted airline and hotel deals with built-in incentives, perks and upgrades for business travellers.
Adapt and fly: With continued cost constraints in 2024, overworked travel managers may still feel pressure to bargain hard and score the most hotel and airline deals possible. But the smartest will pursue fewer, more impactful agreements by shifting focus from mass discounts to incentives, perks and upgrades that make travellers feel valued.
This balanced, needs-based approach requires identifying what matters most to your travellers and framing negotiations accordingly. The payoff? Happier, more compliant travellers and better traveller behaviour data to inform future agreements.
5. Incentive travel makes a roaring return
Reward trips will regain their mojo in 2024 as companies tap into their potential for engaging talent by fostering motivation and a better workplace culture.
Adapt and fly: The FCM report forecasts a strong comeback and growth for incentive travel programmes as companies recognise their impact on employee motivation, retention, and culture. However, duty of care and thorough planning remain critical, advises Smith. Smart travel managers will conduct careful risk assessments, vet potential destinations, and ensure appropriate support for travellers.
6. Artificial intelligence and automation lend a hand
In 2024, business travel will reach new heights thanks to artificial intelligence! By cleverly leveraging predictive data and analytics, travel managers can be incredibly well-informed to make brilliant strategic decisions and score super smart agreements.
Learn more about how AI and FCM are working better together by watching this video.
Adapt and fly: And that's just the start of AI's potential. We're talking revolutionary personalisation here - virtual trip planning assistants will get to know travellers like BFFs, streamlining booking, nailing recommendations, and even anticipating needs like a psychic. As Smith says, “The collaboration between human insight and AI will define the future of smart, efficient, and productive business travel.”
Download the full white paper now to future-proof your travel programme.
