During the recovery of corporate travel in 2021, the manufacturing sector placed in the top five industries that would contribute most to its comeback. Fast-forward to now and the industry still remains a significant player, with the Global Business Travel Association (GBTA) predicting growth in the sector’s business travel spending and the industry being highlighted as a leader, alongside technology, in Asia’s return to business travel.
What is the manufacturing industry?
The manufacturing industry primarily focuses on transforming raw materials into finished goods, usually on a large scale, using machinery, tools, and human labor. Some sub-sectors are also involved in repairing and installing industrial equipment.
Why the manufacturing industry needs quality corporate housing
For employee wellbeing
Manufacturing employees may be facing high demands, such as large delivery quotas and long working hours. It’s, therefore, essential for travel managers to ensure employees on the move have a place they can treat as a home base during a trip or relocation to help mitigate general distress and risks of burnout.
Booking quality corporate housing gives business travelers a safe and comfortable environment where they can truly switch off after work. This can make a huge difference when it comes to employee wellbeing, as they’ll benefit from improved sleep and are better equipped to create a balanced work-life structure.
To keep employees safe
It’s part of a company’s duty of care to keep employees safe while they’re traveling for business. That’s why it’s crucial to book through quality accommodation providers. Travel managers can ensure the properties they book are safe by using an online booking tool with an in-built GeoSafeScore . These scores rate a destination on a scale of 1 to 100 , where a higher score indicates a safer neighborhood and a lower score highlights less safe areas.
Another benefit of using an online booking tool for business trips and relocations is that the housing supply is already pre-vetted, saving travel managers hours of research and verification, while also assuring them that the accommodation options comply with their policies.
For talent retention
According to Deloitte’s 2023 Manufacturing Industry Outlook, companies in the sector will be encouraging flexible work arrangements as part of their talent management strategy in the months ahead. The industry recently hit a record for the level of new hires, however, the difficult labor market keeps job openings at an all-time high with voluntary exits continuing to outnumber layoffs. This inevitably affects operational efficiency, so many companies are turning their attention to talent retention efforts in 2023 — 1 out of 3 company executives state retaining high-performing employees is a strategic priority in the year ahead.
A couple ways in which manufacturing companies plan to strengthen talent retention is through pay increases, a DEI strategy (diversity, equity and inclusion), and through flexible work arrangements. The latter includes restructuring the workplace to incorporate the shifts work culture has experienced in recent years, such as remote and hybrid working.
Since the manufacturing industry already accounts for 7% of all bleisure travelers, it seems workplace flexibility would be a welcome addition to the industry. Companies looking to incentivize employees in this way can rely on quality corporate housing providers, who offer a vast range of accommodation options suitable for any length of stay. Serviced apartments, for example, are a great choice for employees looking to extend their business trip for leisure activities, as they’re equipped with additional home-like facilities.
Key takeaways
3Sixty
At 3Sixty, the business travel industry’s most secure and intuitive accommodation platform, we offer over one million quality accommodation options around the world, including serviced apartments, short-term rentals, hotels, aparthotels and condos.
Simplify the travel planning process and get employees involved in the planning of their trip with our online booking tool. We offer specialized, pre-vetted housing options suitable for any kind of business trip.
Will the pandemic have everlasting effects on business travel? When the global crisis hit, the world witnessed a massive reduction in travel across all sectors. North America’s business travel spending dropped drastically from $396 billion in 2019 to $126 billion in 2020. Spending more than halved across Asia, Europe, Africa, Latin America, and the Middle East. Research by the Global Business Travel Association (GBTA) suggests that this decline amounted to around a $770 billion loss for the industry.
The impact of travel restrictions on business travel carried over into 2021 where U.S. corporate spend only reached 20% of 2019 levels by year end. It wasn’t until 2022 that the industry finally showed some significant recovery, meeting 55% of pre-pandemic spending by the final quarter. Now, business travel is continuing along the long road to recovery — but is normality in sight?
3 trends that indicate business travel’s triumphant return
After years of virtual meetings, online conferences, and webinars, the industry is beginning to see a rise in in-person events again. Skift has reported that “in-person events and conferences are set to drive corporate travel’s recovery throughout 2023” since Deloitte’s 2023 Travel Outlook predicts such gatherings will support the industry in establishing a ‘new normal’.
Why now? The report suggests that the main reason for the return to in-person corporate events is that virtual gatherings simply can’t facilitate the same level of relationship building — a key element for business success both with employees and clients. It states that current conference software is inadequate, suggesting in-person meetings remain superior.
With the rise of in-person events on the horizon, travel managers may seek help from online booking tools, which simplify the process of researching and verifying suitable corporate housing for employees. In-city hotels, aparthotels, or short-term rentals may be most suitable for those only staying in the area for a two or three day event.
January market research into US short-term rentals shows a 27% increase in property reservations. However, the number of nights being booked is shortening, with a 25% decline in length of stay. Similar trends were also observed across the UK. These findings could be a reflection of changes in the corporate world, as business travel slowly returns, driving down the average length of stay across all travel sectors. This is hardly surprising since nearly 8 in 10 travel managers told the GBTA that they expect their company to increase business trips in the year ahead.
Short-term rentals are an ideal option for those traveling on business, as they provide extra amenities including kitchen and laundry facilities. But the ‘perfect housing’ is dependent on the individual — working together with your employee when planning a trip ensures they have a great business travel experience.
Along with reduced business travel, the pandemic also dramatically impacted how we all live and work. But it seems even these changes are beginning to fade. Recently we’ve witnessed a significant drop (-14%) in the number of remote job listings available, as more and more companies expect workers to return to the office and employees start to miss spending time with colleagues face-to-face. This shift could be causing a spike in business trips, now that fewer people are working from home or living a digital nomad lifestyle, not to mention the number relocations needed to facilitate rising rates of office commuting.
Corporate accommodation that provides home-like facilities is usually most suitable for those on longer stays, such as relocations. Condos, aparthotels, short-term rentals are all great options, which travel managers and employees can explore on an all-in-one business travel marketplace.
On top of these rising trends, on-going industry movements such as bleisure and blended travel continue to contribute to recovery of the sector.
There’s still a long way to go to reach pre-pandemic business travel levels — it may be that, instead, the industry adopts a ‘new normal’. Trends, such as increased in-person events, shorter stays and a drop in remote job listings, all suggest that the industry is moving back in that direction.
3Sixty
3Sixty, the business travel industry’s most secure and intuitive accommodation platform, provides travel managers with over one million pre-vetted, quality rooms and properties around the world for all their business travel needs.
Are you trying to book accommodation for employees attending in-person events or those requiring relocation for an in-office job role? Find suitable options for all circumstances on our online booking tool.
Sustainability is no longer a trend but a necessity for corporate travel. Regardless of the industry, every company faces increasing pressure from the government to reduce its carbon emissions. On top of this, employee expectations for more sustainable ways to travel are growing as awareness of global needs spreads.
Studies show that 8 in 10 business travelers would be more inclined to work for companies that incorporate sustainability into their corporate travel policies. These aren’t figures that businesses can easily ignore when stress and employee burnout continue to threaten retention rates.
So, now that global mobility is rebounding to what it once was pre-pandemic, how does your company’s sustainability initiative compare?
Sustainability in the business travel sector
Carbon offset programs
A huge part of accommodating sustainability in business travel is offsetting carbon emissions. Almost half of sustainability managers work on this often, or very often, with a further 26% focusing on carbon offsetting sometimes.
What is carbon offsetting?
Carbon offsetting is when a company funds programs that remove carbon dioxide from the atmosphere to counteract the carbon footprint they create when traveling for business.
How else can companies reduce their business travel carbon footprint?
Transport
When it comes to transport, there are a number of ways in which travel managers can minimize the impact on the environment. Where possible, booking direct flights to the destination helps to avoid layovers and additional air time. Flying economy instead of business class is thought to use half the amount of CO2, as passengers take up half the space on the aircraft. Even minor changes, such as hiring an electric car, using public transportation and choosing low-emission airlines, can also make a huge difference in terms of corporate travel sustainability.
Housing
The average CO2 generated per room per year in the UK is 10 to 13 tonnes, highlighting the importance of green housing. It’s thought that hotels consume more energy than other types of accommodation, likely due to their additional communal rooms. For this reason, short-term rentals, serviced apartments, or condos may be more eco-friendly options for business travelers.
According to a survey by The Apartment Network and ISAAP, 57% of serviced accommodation providers have an environmental or sustainability policy in place, with almost two-thirds stating they participate in practices to check their carbon impact.
Another way to ensure housing is sustainable is by checking for eco-certifications — industry-acknowledged standards which have been achieved. In the US, for example, the Leadership in Energy and Environmental Design (LEED) Green Building Rating System credits hotels and other buildings that meet their environmental and human health ratings.
Policies
Create a green corporate policy for those traveling for the company. Set clear goals to reduce the impact of trips and relocations. Maybe that means choosing to send your employees away on trips longer than 1-2 days and combining meetings into the same trip to minimize traveling or encouraging the use of e-ticketing over printing documents. Providing training on how to be more eco-friendly during travel and offering employees incentives can help to ensure business travelers stick to your corporate policies.
The demand is there for better sustainable practices in corporate travel from both the traveler and the planet. Every small step or decision a company makes during the business travel planning process can contribute to cutting its overall carbon footprint — whether that’s how your employee gets to their destination, where they stay, or the rules you put in place for them to follow.
3Sixty
3Sixty is the business travel industry’s most secure and intuitive accommodation platform, offering over one million pre-vetted, quality rooms in 60 countries around the world. We’re committed to doing our bit for the planet and have a corporate eco-goal of becoming carbon-neutral by 2023.
Try our all-in-one online booking tool to find your next corporate stay.
According to the U.S. Travel Association’s most recent travel price index, inflation has affected everything from transport to lodging and food services, with airline fares alone having risen by 29%. All of these factors have a direct impact on business travel costs, making it even more difficult for companies to contain spending when sending employees on business trips or when trying to navigate a company-wide relocation.
On top of this travel managers must also consider the other factors at play, such as company sustainability initiatives like carbon offsetting programs that are tightening business travel budgets even further.
The good news is that travel managers can now lean on tech platforms, including online booking tools, to help reduce and contain business travel spending. This enables companies to continue reaping the benefits of in-person meetings and events, such as industry conferences, in a time when finances are under greater scrutiny.
How online booking tools (OBTs) reduce business travel spending
OBTs streamline the entire planning process
Travel managers can avoid hours of research spent verifying accommodation options for business trips and relocations by switching to an online booking platform. Instead of comparing listings on multiple travel sites, travel managers can instead gain access to over one million alternative accommodation options, from a trusted global supply chain with 200 years of experience, all in one place.
The best part is that housing suppliers on platforms like 3Sixty are already pre-vetted (using technology such as Dow Jones), meaning travel managers can save time, safe in the knowledge that they’re selecting quality housing that adheres to company travel policies. These tools ensure suppliers are performance managed, grading them on key metrics such as response time, case management, price transparency and, most importantly, customer satisfaction, so you can rest assured employees will receive the best experience possible.
OBTs offer affordable accommodation options
With access to over 800 different suppliers in 60 countries around the world, travel managers are able to easily compare accommodation prices to fine tune what best suits their employees’ needs based on each individual trip. Choose a platform with transparent supplier rates to truly benefit from real-time competitive prices that are backed by a pricing guarantee.
Some OBTs even offer built-in bid models that drive accommodation costs down. These features leverage spending that yields discounts which fall below standard supplier market rates, enabling companies to contain travel spending by booking cost-effective housing.
OBTs reduce additional traveling expenses
As online booking tools like 3Sixty use geo mapping technology, for longitude and latitude location mapping, travel managers can be precise about where they choose to house employees. Locating an employee close to where they’re meeting clients or attending an industry event can help to reduce additional business travel expenses, such as transportation costs.
OBTs also supply a wide range of business travel accommodation types including short-term rentals, serviced apartments, condos, aparthotels and hotels. Selecting housing with advanced amenities such as kitchen and laundry facilities enables employees to minimize their business travel spending even further, as they can opt to ‘eat in’ rather than at a restaurant, and can save costs on external laundry services. Some accommodation types, such as condos, even have co-working spaces, providing employees with a quiet (and free) space to work during their stay. It’s easy to specify such amenities when booking housing by using the wide range of search filters on an OBT.
OBTs are free to use
On top of all their fantastic benefits, online booking tools are completely free to use, meaning you’ll win back valuable time, get access to quality and cost-effective accommodation,and the ability to reduce additional traveling expenses at no extra cost to the company.
Online booking tools are an end-to-end solution designed to meet the diverse needs of travel managers and business travelers. So, whether you’re looking for quality accommodation for an important client meeting, support during a large-scale relocation or ways to contain the costs of business travel spending in your company — online booking tools can help you achieve your goals.
3Sixty
3Sixty is the business travel industry’s most secure and intuitive accommodation platform.
Our online booking tool has been developed to help travel managers and employees contain the costs of business travel spending with transparent and price guaranteed rates on over one million pre-vetted, quality rooms and properties in 60 countries around the world.
International business travel is making its long-awaited comeback now that restrictions are easing and travelers are regaining confidence in cross-border trips. According to Expedia, search volume for international trips with a 180+ day booking window started rising in the final months of 2022 (10% quarter-over-quarter). What’s more, almost half of travelers said they’re likely to travel intentionally over the next twelve months, increasing from 35% the previous year.
The recovery of the corporate travel scene doesn’t necessarily mean a return to ‘normal’. Destination markets are recovering at varying speeds based on a number of contributing factors. So, with this in mind, what does the current business travel landscape look like on an international scale?
Europe
Despite the impact of the war in Ukraine, EMEA international searches increased by 40% quarter-over-quarter in the latter part of 2022. London remains a top corporate travel hub as it’s one of the best-connected cities for transport in the world, continues to be a leading financial center and is home to thousands of buildings suitable for business meetings and conferences.
As in-person events return tenfold, we’re seeing the emergence of other European countries such as Paris and Amsterdam. The uptick in demand for Paris could be a reflection of lower air fares, especially considering current increases across the board (+8.4% predicted for 2023).
Middle East
Following the UAE Expo in 2020 which generated 24 million visitors over a six month period, Dubai continues to witness business travelers flocking to the country for meetings and events. Occupancy rates have increased so much that hotel prices are now on the rise, showing the sheer extent of interest in the region.
According to the Global Business Travel Association (GBTA), the Middle East and Africa take top spot for the fastest recovering business travel regions. Findings show that last year the sector reached 86% of 2019 levels, leading some to believe it will be fully recovered by 2024.
Latin America
Airline success in 2022 suggests a massive uptick in demand for business travel in LATAM. In March alone, GOL Airlines saw traffic levels surpass 2019 by 60%, which they believe corporate travel played a large role in. This boost in business activity has even enabled other airlines, such as Azul, to raise their air fares.
The Global Business Travel Forecast for 2023 predicts that top destinations in this continent will be São Paulo, Cancun, and Ribeirão Preto.
Asia
As the part of the world which experienced the strictest and longest period of travel restrictions, it’s thought that pent-up demand will contribute to boosted travel in the region during 2023. Despite China remaining largely closed, three global US airlines have scheduled 98.9% (3.2 million seats) of spring 2019 passenger levels for flights to Asia in the months ahead.
Top predicted business travel destinations in APAC this year are Singapore and Tokyo.
North America
While domestic travel has been flourishing for some time, international arrivals in the US continue to make a slow recovery. The country has been largely affected by slow traffic from Asia and Europe, due to China’s lockdown and the Ukraine war, witnessing an overall 24% decline in foreign national inbound arrivals in 2022. However, 2023 brings new hope for North America, with forecasts suggesting a 98% recovery of 2019 levels for inbound business travel by air.
It’s very much likely that New York will remain one of the top cities in the world for business travel, with rising interest also to be seen in Houston and Boston.
Why international business travel is important
Business travel can be hugely beneficial for companies looking to improve their knowledge, client base and employee morale. Deloitte’s research highlights the two primary reasons travelers take corporate trips are to attend conferences (25%) and build client relationships (22%). So for those looking to scale their businesses in 2023, the world being open to cross-border travel is a big win.
Wherever you’re planning to send employees for in-person events, client and supplier meetings, relocations, or team get togethers, ensure to book them reliable corporate housing. Choose an online booking tool with pre-vetted accommodation suppliers all over the globe, so you can rest assured your employees will be safe no matter where they are.
3Sixty
3Sixty is the business travel industry’s most secure and intuitive accommodation platform with over one million pre-vetted, quality accommodation suppliers across 60 countries.
Did you know that last year an advisory was issued to address the United State’s health worker burnout crisis? According to statistics, 54% of nurses and physicians and almost two-thirds of medical students and residents were suffering.
Now, think about the added stress those in the sector have to face when traveling for work — navigating unfamiliar cities, being away from loved ones, transport delays, and so much more. This is why it’s vital that travel managers in healthcare book employees into quality housing during business trips.
To highlight how specialized business travel accommodation can ease some of the inconveniences and stresses of being on the road, we’ve compiled a list of benefits for those working in the health industry.
3 reasons why the healthcare industry needs top-class accommodation
A space to recuperate
While most travelers suffer from the effects of long travel days, and jet lag if they’ve crossed time zones, healthcare professionals are also prone to working lengthy, arduous hours. This can take its toll physically and mentally. Healthcare professionals need to focus and be vigilant when on the job, so travel managers should prioritize comfort when searching for accommodation for their employees. They’ll benefit most from a place where they can fully relax and recuperate, ready for their next shift.
Comfort is essential for healthcare business travelers. With this in mind, travel managers may place preference on housing types that offer more space, such as a short-term rental or serviced apartment, as larger living areas can provide that home away from home feeling.
Quality of life
More than in any other industry, employees working in healthcare are extra vulnerable to burnout. It’s your duty of care to protect employees from any form of harm to their health. This is why it’s important for employers to set traveling employees up with housing amenities and facilities that help to support wellness and quality of life.
What kind of amenities can provide this support? Some people use exercise as a way to release stress and reset their mental state, so they would therefore benefit from space to work out or access to gym facilities at the accommodation. Other amenities, such as co-working spaces, can help workers to better differentiate between work and rest time, so they’re better able to switch off when inside their accommodation.
It’s also important to think about ways employers can simplify an employee’s stay on a day-to-day basis. Choosing to house workers in accommodation with kitchen and laundry amenities, such as short-term rentals, aparthotels, and condos, can go a long way in reducing inconveniences (as well as expenses) to improve quality of life. Such amenities can be specified when searching for business travel accommodation on online booking tools, such as 3Sixty, for easy and quick access to suitable housing options.
Access to workplace
Quality accommodation isn’t solely based on what’s inside the housing but also on where it’s located. This is especially important for healthcare business travelers working on-call who need to have fast access to their workplace in emergency situations. A well-thought-out accommodation choice can create an elevated business travel experience by reducing travel time and inconvenience for those working long shifts or attending all-day conferences. Travel managers can use advanced search options on online booking tools to ensure housing is suitably located when making bookings for employees.
Choosing housing that’s close by and convenient for your employees also helps to reduce travel expenses, something large organizations with tight budgets will want to make sure they get right.
Key takeaways
When it comes to business travel accommodation, those in the healthcare industry require a little more attention to detail, as employees are prone to long shifts, emergency call-outs and burnout. Employers can combat these challenges by choosing comfortable, well-located, and fully equipped housing options to give travelers the best experience possible.
3Sixty
At 3Sixty, the business travel industry’s most secure and intuitive accommodation platform, we offer over one million quality accommodations around the world, including serviced apartments, short-term rentals, hotels, aparthotels, and condos.
Simplify the travel planning process with our online booking tool that offers specialized, pre-vetted housing options suitable for any kind of employee business trip.