MIAMI – Air travel for business has turned into an incredibly lucrative industry over the past decade, with the USA and China representing the two biggest contributors.
Airlines have been the major beneficiaries of this, and certain providers have become known for their handling of corporate clients. However, recent trends suggest that business travel may have reached a plateau as concerns over the environment are on the rise. With this in mind, it seems that leisure travel will always be the top source of income for airlines.
Business Travel on The Rise Over The Last Decade
Over the last decade, air travel for business has steadily risen. Corporate travel is a trillion-dollar industry, and more than 1 million people in the USA alone travel for business daily. Recent research has shown that business travel accounts for 26.2 percent of tourism in America, while tourism makes up the other 74 percent. However, some interesting trends suggest the rise of business travel may have hit its peak. Indeed, business owners are now becoming more conscious of reducing their negative impact on the environment, and are seeking alternative options.
According to BCG, it is expected that major corporations will respond to increasing pressure from employees and stakeholders to reduce their strain on the environment. This would have a huge ripple effect on the airline industry, as these clients make up some of the highest spenders. In the report, it states that the world’s biggest companies will examine alternative options to regular business travel such as a heavier focus on video conferencing. Virtual reality may also make board room meetings between people in different locations a possibility.
Infamous Party Destinations to Witness Change As Well?
Air travel for leisure has benefited from some of the most desirable holiday destinations on the planet over the years. For example, Las Vegas attracts more than 49 million people every year, and Paris brings in 30 million. But what if travelers could gain the experiences found at these places in other ways? Could this see a reduction in the number of people traveling for leisure as well?
This reality could be occurring sooner than many expect, as there are already ways for people to find these experiences online. The casino industry, in particular, has boomed thanks to the internet and this could end up reducing the number of people who wish to visit Vegas.
The bonuses found on the web make playing online a tempting prospect. Players can use this list of PA casino apps: claim up to a US$1000 bonus at best mobile casinos. These bonuses are easy to take advantage of and can help players get a head start at a site. The competition found in this industry has brought notable benefits to potential players.
Virtual reality could play a part in helping people discover famous landmarks without actually having to travel to the destination. It is already possible to have a virtual tour of the Eiffel Tower, and this experience will doubtlessly be enhanced as VR technology improves.
Air travel for leisure should always remain high because people are unlikely to want to stop taking holidays. However, it could be reduced as environment-conscious people seek to reduce the impact they have on the planet. When it comes to business, it seems to be a certainty that massive corporations will employ alternative methods to help the world.