According to Bloomberg’s survey of 45 large companies in the US, Europe, and Asia, 84% plan to reduce their air travel after the pandemic and a majority of those reducing their travel budgets expect reductions of between 20% - 40%, with 2/3 reducing both internal and external meeting-related travel. The primary reasons cited for planned reduced travel post-pandemic are cost savings, virtual meeting technology, carbon emissions reductions, and employee well-being.
The article includes read-worthy quotes from CEOs and other leadership associated with numerous companies that weighed in on their post-pandemic travel policy and budget plans, including Aeroports de Paris, Deutsche Bank, Hershey Co., HSBC Holdings Plc, Invesco Ltd., KPMG, LG Electronics Inc., Marsh & McLennan, Michelin, Pfizer, Raytheon Technologies Corp., Royal Dutch Shell Plc, Societe Generale SA, United Overseas Bank Ltd., and Volkswagen AG.
See “Covid-19 Resurgence Clouds Business Travel Rebound” (WSJ) and additional resources on our Coronavirus (COVID-19) Resources page.
This post first appeared in the weekly Society Alert!