{"id":3200,"date":"2021-03-08T09:22:00","date_gmt":"2021-03-08T02:22:00","guid":{"rendered":"https:\/\/www.esrith.com\/?p=3200"},"modified":"2022-04-07T15:31:51","modified_gmt":"2022-04-07T08:31:51","slug":"massive-drop-in-business-travel-could-be-permanent","status":"publish","type":"post","link":"https:\/\/www.esrith.com\/en\/blog-en\/massive-drop-in-business-travel-could-be-permanent\/","title":{"rendered":"Massive Drop in Business Travel Could Be Permanent"},"content":{"rendered":"\r\n<p>In an analysis that stretched over months, <em>Wall Street Journal<\/em>\u00a0columnist Scott McCartney\u00a0sifted data and insight from airline industry veterans\u00a0and landed on a prediction with deep economic implications across sectors. After COVID-19 retreats, there will likely be 19 to 36 percent less business-related air travel than in the prepandemic era, he found. If that prediction holds true, consequences for the airline industry will be profound. Other sectors that benefit from business travel could suffer as well. For hotels, convention centers, and meeting spaces; restaurants; retailers with airport locations; consulting companies; and service providers that cater to traveling business professionals, a decline of this magnitude demands new thinking and new tools to support smarter location strategies. \u00a0<\/p>\r\n<h3><span style=\"color: #333333;\"><strong>One Overlooked Cause of Less Travel\u2014The Net Zero Effect<\/strong><\/span><\/h3>\r\n<p>With\u00a0COVID-19 vaccines\u00a0now on their way to people worldwide, some business forecasts have improved. Analysts at Goldman Sachs expect\u00a0economic growth of more than 5 percent in 2021. But for pockets of the economy\u2014including those affected by business travel\u2014sales likely won\u2019t return to previous levels. McCartney says travel reductions will be driven by classic business influences such as efficiency and cost. One factor he doesn\u2019t mention is the corporate push toward\u00a0net zero\u00a0carbon emissions. As more CEOs pledge to go net zero by 2050 or earlier, they\u2019ll take a dim view of business activities that contribute to emissions, including travel by airplane. (Flights tend to be a\u00a0\u201cdirtier\u201d form of travel\u00a0than other means, according to a recent analysis.) Earlier this year, health-care provider Bupa Global found that a quarter of business executives plan to\u00a0reduce international travel in the post-COVID era\u00a0to lessen their carbon footprint. Regardless of their motivation, 91 percent of CEOs in a May\u00a0<em>Fortune<\/em>\u00a0survey said they expect\u00a0business travel to be less frequent\u00a0[subscription]. If such predictions pan out, companies that rely on business travelers will face a planning challenge. They\u2019ll need to understand where people consume products and services, and use that insight to create a profitable location strategy for stores, offices, warehouses, and other facilities. \u00a0<\/p>\r\n<h3><span style=\"color: #333333;\"><strong>Long-Term Location Strategy Meets Short-Term Consumer Shifts<\/strong><\/span><\/h3>\r\n<p>To adjust to significant economic shifts, industry leaders need fast and accurate location insight. In the digital age, that\u2019s more accessible than ever. With anonymized information on where consumers are and no-code technology like a geographic information system (GIS) to illustrate changing patterns, company leaders are locating new business opportunities. Executives are making those adjustments faster than they used to. Traditionally, decision-makers set location strategies for the long term, weighing where to sign multiyear leases for stores and offices or build manufacturing facilities and warehouses. That began to change prior to the COVID-19 pandemic, as CEOs sensed changes in shopping patterns and pushed for shorter commercial real estate leases. During the pandemic, the trend has accelerated. The average lease length in the US fell by 15 percent during the first five months of this year. The most obvious reason for this decline is the uncertainty created by COVID-19. Business leaders are now more sensitive to unforeseen events, and need to adjust location strategies for factors like lockdowns, work from home, and business travel declines. Shorter leases are a means to that end\u2014a tactic to help companies become more agile. But understanding how to put that agility to use\u2014how to change business plans as economic realities change\u2014requires\u00a0location intelligence. \u00a0<\/p>\r\n<h3><span style=\"color: #333333;\"><strong>Location Intelligence: See Changes Sooner<\/strong><\/span><\/h3>\r\n<p>One indispensable tool for understanding changing economic patterns is a smart map. As\u00a0Swarovski\u2019s Richard Bezuidenhout\u00a0wrote recently in\u00a0<em>WhereNext<\/em>, companies that use smart maps to fine-tune their location intelligence are more likely to weather disturbances and spot new business opportunities\u0e43 GIS-based maps help business planners see where people are spending time and buying products and services. With millions fewer business travelers moving through the country during any given week in the future, companies that contextualize this kind of location data will make adjustments that competitors won\u2019t anticipate. The COVID-19 pandemic will be remembered for its profound impacts on human health and its quick reshaping of the economy. In addition to decreased business travel, it has accelerated trends such as\u00a0carless cities\u00a0and remote work, forcing business executives to plan in a fluid environment. Those who do so with the help of location intelligence may find an advantage in a volatile world. \u00a0 \u00a0<\/p>\r\n<hr \/>\r\n<h2 style=\"text-align: center;\"><strong><span style=\"color: #000080;\">Unleashing GIS Technology\u2019s potential in every industries<\/span><\/strong><\/h2>\r\n<h3 style=\"text-align: center;\"><a  itemprop=\"url\" href=\"\/en\/about\/blog\/\" target=\"_self\" data-hover-background-color=\"#03409c\" data-hover-border-color=\"#03409c\" class=\"qbutton  default\" style=\"\">Read more<\/a><\/h3>\r\n<p>\u00a0 [vc_separator type=&#8217;normal&#8217; position=&#8217;center&#8217; color=&#8217;#c7c7c7&#8242; thickness=&#8221; up=&#8221; down=&#8221;]<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>In an analysis that stretched over months, Wall Street Journal\u00a0columnist Scott McCartney\u00a0sifted data and insight from airline industry veterans\u00a0and landed on a prediction with deep economic implications across sectors. After COVID-19 retreats, there will likely be 19 to 36 percent less business-related air travel than&#8230;<\/p>\n","protected":false},"author":1,"featured_media":3197,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[89],"tags":[28],"class_list":["post-3200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog-en","tag-covid-19"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Massive Drop in Business Travel Could Be Permanent - Esri Thailand<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.esrith.com\/blog\/massive-drop-in-business-travel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Massive Drop in Business Travel Could Be Permanent - Esri Thailand\" \/>\n<meta property=\"og:description\" content=\"In an analysis that stretched over months, Wall Street Journal\u00a0columnist Scott McCartney\u00a0sifted data and insight from airline industry veterans\u00a0and landed on a prediction with deep economic implications across sectors. After COVID-19 retreats, there will likely be 19 to 36 percent less business-related air travel than...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.esrith.com\/blog\/massive-drop-in-business-travel\/\" \/>\n<meta property=\"og:site_name\" content=\"Esri Thailand\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-08T02:22:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-07T08:31:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.esrith.com\/wp-content\/uploads\/2021\/10\/Cover_Massive-Drop-in-Business-Travel_Esri.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"855\" \/>\n\t<meta property=\"og:image:height\" content=\"460\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"saponlachet.h\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"saponlachet.h\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.esrith.com\/blog\/massive-drop-in-business-travel\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.esrith.com\/blog\/massive-drop-in-business-travel\/\"},\"author\":{\"name\":\"saponlachet.h\",\"@id\":\"https:\/\/www.esrith.com\/en\/#\/schema\/person\/f54c89d3102d63ee3a72d69e8cb73067\"},\"headline\":\"Massive Drop in Business Travel Could Be Permanent\",\"datePublished\":\"2021-03-08T02:22:00+00:00\",\"dateModified\":\"2022-04-07T08:31:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.esrith.com\/blog\/massive-drop-in-business-travel\/\"},\"wordCount\":786,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.esrith.com\/blog\/massive-drop-in-business-travel\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.esrith.com\/wp-content\/uploads\/2021\/10\/Cover_Massive-Drop-in-Business-Travel_Esri.jpg\",\"keywords\":[\"COVID-19\"],\"articleSection\":[\"Blog\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.esrith.com\/blog\/massive-drop-in-business-travel\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.esrith.com\/blog\/massive-drop-in-business-travel\/\",\"url\":\"https:\/\/www.esrith.com\/blog\/massive-drop-in-business-travel\/\",\"name\":\"Massive Drop in Business Travel Could Be Permanent - 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