As Omicron Emerges, Business Travel Industry Shows Concern

A new Global Business Travel Association (GBTA) survey shows that business travel practitioners are concerned about the potential economic impacts in the industry owing to the Omicron variant of COVID-19. Most companies, however, are taking a wait-and-see approach before introducing new restrictions or requirements for business travel. Additionally, a clear majority feel countries should require international visitors to prove they are fully vaccinated, and that pre-trip negative tests should be mandatory irrespective of vaccination status.

Earlier this month, GBTA surveyed its membership of global travel buyers, suppliers, and other industry stakeholders to gauge current sentiment around the Omicron variant of COVID-19 and any early effects on the business travel industry.

The survey found that concern about the Omicron variant is apparent among the global business travel industry respondents, most notably in terms of potential economic impacts. Eight in 10 (82 percent) respondents are concerned or very concerned about the revenue impact, while seven in 10 (69 percent) are concerned in some capacity about employment and (re)hiring in the sector. Six in 10 (61 percent) are concerned about the safety of business travel.

The Omicron variant has likely impacted at least a portion of bookings for business travel suppliers and TMCs. One in three (37 percent) report their bookings have decreased, while a third (35 percent) say their company’s bookings have remained the same.

When compared to an August 2021 GBTA poll about the delta variant, while there was a similar level of concern around revenue-specific impacts across both variants, the Omicron variant is causing less concern around safety of resuming travel or employment/rehiring. In the August poll about the delta variant, 85 percent of respondents reported being concerned or very concerned about revenue impact, 79 percent in terms of employment/rehiring and 78 percent in terms of safety of business travel.

On a global basis, there are indicators of a more wait-and-see approach to introducing new restrictions or requirements for business travel and companies are continuing with current plans when it comes to the return to business travel. Half (53 percent) report their company is unlikely to introduce new restrictions due to the Omicron variant, while one in five (19 percent) respondents report their company has not introduced new restrictions but is considering doing so. Less than a fifth (17 percent) of respondents state their company introduced new restrictions on nonessential business travel or new requirements related to business travel due to Omicron.

However, in Europe, there are indicators of more concern around revenue impact and more caution by the introduction of new travel restrictions. Respondents based in Europe (90 percent) are more likely to say they are concerned or very concerned about the revenue impact to companies in the business travel sector due to Omicron compared to those based in North America (79 percent). Travel supplier respondents in Europe (61 percent) are more likely to report their bookings have decreased compared to respondents in North America (29 percent). While still far fewer than half, Europe-based respondents (32 percent) are much more likely than North America-based buyers to say they have introduced new restrictions (12 percent).

A majority of global business travel professionals support vaccination requirements and testing for international travel. Two-thirds of respondents (66 percent) feel countries should require international visitors to prove they are fully vaccinated, compared to 16 percent who feel countries should allow unvaccinated international visitors. Respondents feel that countries should require pre-trip negative tests for all international visitors even if they have been fully vaccinated (60 percent). However, one in three (30 percent) support a negative test requirement only if the traveler is unvaccinated.

The GBTA Omicron variant poll was conducted December 6-12, 2021; a total of 732 responses were received.

Source: GBTA

Related Stories