Courtesy of HYRYDE
The business travel industry is still booming despite the challenges and shifts it is currently facing. According a recent study by Statista, business travel had a total global economic contribution of 1.11 trillion U.S. dollars in 2015, and global business travel spending is expected to grow from 1.2 trillion U.S. dollars in 2015 to 1.6 trillion U.S. dollars in 2020.
Several factors are at play for the continued growth of the business travel sector. The rise of the sharing economy, changing demographics of business travelers and the rise of the millennial workforce, big data, AI, and currency shifts are just some of the many reasons why more and more companies are making business travel a part of their corporate strategy.
Many studies have already supported the idea that business travel is beneficial for both organizations and employees. For companies operating in a highly dynamic environment, sending their employees abroad for business and leisure purposes helps them attract the best talent in the job market, retain their best employees, and ultimately gain a long-term competitive edge in the market.
For business travelers, being able to travel abroad is a massive job perk. Going to new places allows them to experience unique cultures and meet new people, thus alleviating the stress associated with the daily routine in the office. It also helps them become a better version of themselves as they learn how to take care of their health and manage their time as they travel to different places.
In 2018, we can expect that more and more companies will use business travel as a strategy to improve their employee experience and to enhance the competitiveness of their workforce. If you are planning to send your employees abroad and is still pondering on where to go next year, here are the top cities that you should consider heading out to in 2018:
1. Hong Kong
3. New York
4. Mexico City
To learn more about these top business travel destinations in 2018, check out the infographic below from Hyryde.