WJR Business Beat

WJR Business Beat with Jeff Sloan: Business Travel is Making a Comeback (Episode 245)

On today’s Business Beat, Jeff discusses the reemergence of business travel post-pandemic. In fact, 96% of business travelers say they’re both ready and willing to travel in the next year, according to a survey from SAP Concur.

Tune in to the Business Beat, below, to learn more about how business travel is now becoming more lauded than ever:

“You know, the bottom line is that there is nothing like meeting face-to-face to close a big deal or to establish a new important business relationship. Phone calls and Zoom meetings are certainly more efficient, and no doubt they have their place going forward, but traveling for business to facilitate in-person meetings is very much still a central part of remaining competitive in business today and beyond.”

– Jeff Sloan

Tune in to News/Talk 760 AM WJR weekday mornings at 7:11 a.m. for the WJR Business Beat. Listeners outside of the Detroit area can listen live HERE.

Are you an entrepreneur with a great story to share? If so, contact us at [email protected] and we’ll feature you on an upcoming segment of the WJR Business Beat!

Good morning, Paul!

As offices open up again and people return to work, other aspects of business as we knew it are returning as well — most specifically, airline travel for business. Who’s sick of Zoom meetings? Once a novelty and certainly will always be linked as a hallmark to the pandemic. And, frankly, many businesses are finding that the effectiveness of virtual meetings is waning significantly.

In a survey commissioned by SAP Concur, 96% of business travelers said they are ready and willing to travel in the next year. So, it’s time to hit the road again, America. As reported in the Wall Street Journal, Alison Taylor, chief customer officer at American Airlines Group, reported that 47 of the airline’s 50 largest corporate accounts have said that they plan to resume traveling this year. Before the pandemic, business travel accounted for as much as half of the airline revenues, according to the trade group Airlines for America. Domestic and international business travelers in the U.S. directly spent more than $330 billion in 2019, according to the U.S. Travel Association.

Now, a handful of high-profile events like the TED Conference are returning in person this summer. Industry trade shows are coming back to the Las Vegas Convention Center in June, and then a survey by the U.S. Census Bureau conducted in May, 35% of small business owners said they expect to have travel expenses in the next six months.

You know, the bottom line is that there is nothing like meeting face-to-face to close a big deal or to establish a new important business relationship. Phone calls and Zoom meetings are certainly more efficient, and no doubt they have their place going forward, but traveling for business to facilitate in-person meetings is very much still a central part of remaining competitive in business today and beyond.

So, when you look up at that beautiful summer sky these days, expect to see many more of those familiar and missed white contrails painted across the sky.

I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.

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