Summary:
- Phocuswright research highlights 'Bleisure', the ;leisure extensions of business trips as one of the top trends in corporate US travel.
- Its findings show extended business trips for leisure is allowed in corporate traveller policies in 50% of companies surveyed;
- Phocuswright also calculates the managed corporate segment represented about a third of the total US travel market, and reached USD119 billion in 2017.
The travel research firm identified key trends in the corporate sector through a combination of market sizing, travel spend estimates from US supplier revenue, a travel manager survey and industry executive interviews.
Phocuswright's research shows extended business trips for leisure is allowed in corporate traveller policies in 50% of companies surveyed. Recent research released by Expedia Group Media Solutions shows in the US, bleisure has increased nearly 40% since 2016.
Ground transportation services booked via apps like Uber and Lyft were also part of current travel policies in 50% of companies featured in Phocuswright's research. Private accommodation had the least penetration in corporate policy, well below 50%.
Other big corporate trends cited by Phocuswright are simplifying corporate travel programmes, including seamless integration of payment and expense, virtual cards and digital wallets and shifting travel decision making from marketing and procurement to the CTO. "It's important to integrate a company's travel programme with its enterprise resource systems to drive future decisions," said Phocuswright.
Phocuswright also calculates the managed corporate segment represented about a third of the total US travel market, and reached USD119 billion in 2017.
"Despite the global economy's twists and turns and the possibility of a global trade war looming, the US corporate travel market is expected to continue on its growth path," the company concluded.