According to SKIFT, that’s a yes.
Relative to the amount of leisure traveling growing in the US, the corporate and managed travel market is growing at a much slower pace.
In the U.S. Travel Association’s Leading Travel Index , February’s Current Travel Index for the month of February indicated decline, running even below the 6-month average. This has been attributed to the anxiety accumulated in businesses that reside in international markets.
The LTI also stated that domestic U.S. business travel will continue to decline for the next six months.
The U.S. Travel Association, though, continues to reiterate that these numbers should be compared to the growth that corporate travel had in previous months.
“Even though domestic business travel declined and flagging advance airline bookings from abroad brought the Leading Travel Index down slightly, these number should be measured against the healthy growth seen in previous months,” said David Huether, U.S. Travel’s senior vice president for research.
SKIFT notes that there has also been research suggesting that there has still yet to be a move of business travelers into the mobile world, as many travel companies have yet to provide them robust enough mobile tools.
“More than half of managed business travelers searched for air tickets on a smartphone, but less than 20 percent booked on a smartphone. About half searched for hotel rooms, while about a third has booked a hotel room on mobile.” -SKIFT
It is likely, though, that especially with this decline, we will begin to see more integration of the digital world into managed travel.
Although it is understandable that many corporations are struggling to find the previous comfort in their executives traveling due to the current turmoil in overseas markets, we can still find positive sentiment in knowing that the leisure travel market is still growing.