EPSA, player and producer of sustainable performance for companies and public actors, announces the major trends of its annual business travel barometer at the IFTM TOP RESA 2023 exhibition: the meeting place for tourism and travel professionals .
A development in favor of the environment and geared towards AI
After a 2022 financial year still marked by the resumption of travel, 2023 is confirmed as the new reference year for professional travel, with more stability in demand – the strong progression in the resumption of activity is over.
For 2023, this new reference is set at a projected 28.5 billion euros, or 95% of the expenditure recorded in 2019 (€29.9 billion).
However, despite this apparent return to normal, profound changes are taking place:
Companies travel less but for more moneyr
- 1 trip in 5 has been permanently replaced by videoconferencing or completely eliminated (as was anticipated in 2020). The volume of travel is down sharply: -20% compared to pre-COVID but very strong inflation in all segments (air, hotel, etc.) compensates for this loss of speed, thus reducing the 2023 budgets to a pre-crisis level.
A moderate increase in spending expected
- In 2024, more moderate inflation and more impactful decarbonization actions should lead to a moderate increase in spending: a certain plateau effect could be felt in the most conservative scenario. Thus, for 2024, EPSA anticipates an expenditure between 29.2 (conservative scenario) and 31.3 billion (optimistic scenario), or respectively 98% to 105% of 2019.
A lack of staffs which forces the sector to reinvent itself
- Furthermore, the travel sector remains affected by a shortage of personnel which players are seeking to compensate for through ever-increasing automation (particularly integration of AI).
Llaunch of the first event barometer in collaboration with Kactus
This year, an unprecedented event, EPSA and Kactus will also take advantage of the IFTM TOP RESA show to bring to the attention of the public their very first edition of the Meetings & Events barometer (#MICE): state of play, trends since the end of COVID .
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