Corporate Traveller’s Trends Report for Q4 2023
(powered by FCM Consulting)
In Q4 2023, we saw business travel adapt and thrive amidst a complicated global backdrop. With airfares adjusting and a strategic increase in seat availability anticipated, our report delivers a deeper understanding of the current market.
With this report, our aim is to empower businesses by offering insights and knowledge on navigating airline and hotel pricing amongst rising demand, while highlighting strategies for enhancing traveller engagement and optimisation of travel budgets and processes.
Here are just a couple of the key business travel trends from the report:
- 2023 marked the busiest year for corporate travel in over four years, with companies revising budgets and policies due to increasing travel costs.
- Global travel costs are expected to rise by +3%, except in Europe, where they may stay flat or decline, amidst lower jet fuel prices reaching $102 per barrel.
- Airlines have increased seating capacity by 3.5% over 2019 levels, despite reducing flights by 5.6%. Six airlines introduced new business class pricing strategies to cater to varied traveller needs.
