The coronavirus (COVID-19) continues to punish the global business travel industry, with business travel coming almost to a halt across the globe, according to the latest research conducted by the Global Business Travel Association (GBTA). Almost every GBTA member company (96%) report they have canceled and/or suspended all or most international business travel regardless of location.
“The coronavirus is having a devasting effect on the global business travel industry the likes of which we have never seen,” said Scott Solombrino, COO and executive director of the Global Business Travel Association. “We urge Congress to come together and pass a financial package that will help the industry survive in these unprecedented times. The business travel industry is directly or indirectly responsible for seven in ten jobs throughout the world. It is imperative that Congress pass a responsible bill as soon as possible to save the industry before its fate is sealed.”
To understand the coronavirus’s effects on business travel, GBTA conducted its fourth lightning poll among membership on March 18-21. GBTA received responses from more than 1,155 member companies throughout the world. View the entire poll results here.
Among the poll’s key findings are:
Business travel has come to a halt across the globe. Companies are canceling or suspending almost all business travel due to the coronavirus regardless of country or region. GBTA members report their companies have canceled or suspended “all” or “most” business trips to:
China - 99% canceled or suspended
Hong Kong - 99% canceled or suspended
Taiwan – 98% canceled or suspended
Other Asia-Pacific countries (e.g., Japan, South Korea and Malaysia) - 97% canceled or suspended
Europe – 96% canceled or suspended
Middle East/Africa – 95% canceled or suspended
Latin America – 92% canceled or suspended
Canada – 89% canceled or suspended
United States – 85% canceled or suspended
Almost every GBTA member company (96%) reports they have canceled and/or suspended all or most international business travel regardless of location. In addition, four in five (82%) report they have canceled or suspended all or most domestic business trips.
A majority of GBTA members based in the United States (84%) and Europe (81%) report their company has canceled or suspended all or most domestic business travel.
Many GBTA member companies have instituted blanket cancelation/suspension of business travel regardless of location, duration or purpose. Four in ten (41%) report their company as canceled or suspended all business travel, while half (53%) report their company has canceled or suspended all non-essential trips but allows some essential travel.
