Business Travel Updates and Insights: 14 August 2020

Tesla And Microsoft Pursue Efficient Business Travel Models From TMCs

This week Skift reported on industry efforts to look towards sustainable business models adopted by Travel Management Companies (TMCs), emphasizing the inadequacy of the traditional fee-per-transaction model. The pandemic underscored the limitations faced by agencies, prompting a search for alternatives. Dynamic pricing emerges as a viable solution, enabling TMCs to flexibly adjust their pricing strategies according to market dynamics, saving on business travel expenses and ensuring optimal resource allocation.

Business Travel Show, London, Postponed Until June 2021

The Business Travel Show, Europe’s premier event, originally slated for February, has been rescheduled to 22nd-23rd June 2021 due to ongoing uncertainties. The decision aims to mitigate risks associated with a prolonged recovery period. Oversee, a prominent participant in the show, lauds this move, having clinched the Innovation Awards in 2017 and continuing its sponsorship in 2020, highlighting its commitment to navigating the evolving landscape of corporate travel.

Disruption Threatens Competitive Advantages

Financial News London warns of far-reaching implications stemming from the halt in business travel amid the pandemic. Countries and enterprises with robust international business networks stand to lose significant competitive advantages, including heightened productivity, employment opportunities, and financial gains. Notably, Singapore, Hong Kong, Belgium, Denmark, Switzerland, Ireland, and Austria are identified as key beneficiaries of knowledge exchange facilitated by business travel, rendering them particularly vulnerable to its stagnation.

Temporary Constraints Air Supply On The Horizon

Business Travel News suggests a looming bottleneck in global airline capacity, with figures hovering around 60 million seats, as reported by Michael Baker of OAG. This observation raises concerns over the possibility of reaching a temporary supply cap, driven by legislative restrictions on air travel. The resulting limitations on Origin & Destination (O&D) combinations could further exacerbate challenges faced by businesses reliant on air transportation.

Upskilling Opportunities

With the downturn in travel bookings, corporate travel agents leveraging Sabre GDS platforms are presented with an opportune moment for upskilling. Travel Staffing Group, in collaboration with Sabre, offers a 60-day free training course, enabling agents to enhance their skill sets during downtime. This initiative not only bolsters employability prospects but also aligns with broader industry efforts to foster resilience and adaptability amidst the ongoing recovery phase.

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Introducing Oversee: Shaping the Future of Travel Spend Management

The new brand builds on the company’s commitment to providing an all-in-one platform to optimize corporate travel spend and AI-powered automation tools for travel agencies.

The switch to a new company name comes during exponential growth for Oversee (formerly FairFly). Its outstanding customer base testifies to the business success of Oversee currently serving 29 of the Fortune 100, 86 of the Fortune 500, and 38 of BTN Corporate Travel 100 companies.

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