It seems that, finally, the light at the end of the pandemic tunnel is in sight—at least in some parts of the world. In 2020, total global business travel expenses contracted by 52 percent, while managed corporate-travel spending in the United States plummeted 71 percent, or $94 billion. Last year, when we reported on the impact of COVID-19 on corporate travel, we projected that the road to recovery would be a long and uneven one.
Much has changed since then, thanks largely to progress on the vaccination front. Even though there’s much debate surrounding the timing of herd immunity in the United States, it’s indisputable that vaccination rates are on the rise across the country. At the time of writing, more than 40 percent of the US population has been fully vaccinated, with more than 50 percent having received at least one dose. Companies are starting to bring employees back to offices. Corporate executives are planning in-person meetings and gatherings with customers and colleagues.Read more