The corporate travel segment is a $ 1.4 billion industry that supports millions of jobs worldwide, from air travel to hotels to travel management companies and corporate agencies. Now, roughly eight months after the COVID-19 pandemic, business travel is still on hold and is largely recovering more slowly than vacation travel.

It is unclear when the corporate industry could recover. Some estimates, including one from consulting firm McKinsey, suggest it could take up to five years for the industry to fully recover.

Despite this ambiguity, it is known that the segment – and the travel industry as a whole – will not fully return until consumer confidence in travel is restored. And to get there, the entire industry must make a concerted effort. That is the goal of the Global Business Travel Association (GBTA) “Ready. For sure. Travel. “Campaign that officially launched on November 2nd.

The campaign focuses on mobilizing lobbying in support of the business travel industry to ensure that suppliers can take the necessary action to build consumer and business confidence while raising awareness of the importance of the business travel community to the Branch is.

“Our opportunity at GBTA to just do a rally, sort of a one-size-fits-all campaign because I think we all believe in the travel industry, that it’s time for people to get off and get back on the streets to understand that it needs to be done in a safe manner, ”Dave Hilfman, interim director at GBTA, told Travel Market Report this week.

According to consultancy McKinsey, business travel for airlines can account for up to 75% of profits, despite only accounting for 10% of passengers. And for hotels, especially convention-focused hotels, including some in major US cities, business travel makes almost all of their profits. This is what makes business travel such an important segment.

“All travel is important to us in the travel industry, and we have seen that the airlines are seeing some increase in traffic,” said Hilfman. “Business travel has been more profitable in the travel industry as people pay for flexibility and generate a lot of the revenue for airlines, hotels and rental cars, and frankly even for our partners. ”

Hilfman told TMR that after a booming 2019, “the norm for 2019 is probably two to three years away if you look at all aspects of travel,” and in terms of the 2019 total, it would be surprisingly those numbers before 2023 or before Achieved 2024. “

The recovery could be uneven, added Hilfman, with business travel initially returning with a combination of hybrid virtual and face-to-face meetings, with some already starting, especially in the travel industry itself, but that is why GBTA’s efforts and the efforts of others are in the Industry are so critical.

“That’s why we believe a campaign can help everyone get back to focus on the importance of this to the world economy and to the travel industry itself,” he said. “Companies have seen the benefits of having their employees absent themselves. You need to be on the go and see your customers and colleagues. It’s so critical. “

The GBTA’s campaign focuses on three initiatives: first, to urge leaders to continue to take necessary security measures (ready); second, providing consumers with the right resources to learn about safe travel (safe); and third, tell the story of how important business travel is to the global economy (travel).

GBTA has made a number of efforts that individuals can participate in. His website has a link to post a message to a member of Congress urging them to adopt more emergency funds for workers on leave or laid off. It has also made a number of other resources available, including membership surveys, webinars, and links to its COVID-19 travel resources page.