After a year and a half in the COVID era, most business travel has halted or trickled down by over 90% and in some countries, 100%, according to many international organizations. Business travel has changed in many aspects and will not return to pre-COVID levels anytime soon. Many have predicted a return somewhat in Q4 2021 or by Q3 2022 at the latest. I doubt this.
Travel needs to be categorized in two ways
1. Domestic Travel - air travel, train car, etc. In Japan, for example, most travel has stopped, but there are some cases for essential travel like fixing equipment or face-to-face meetings. In the US, business travel is coming back but to a lesser degree than 2019 numbers.
2. International Travel - air predominantly. Most travel has been halted for a number of reasons, including PCR test requirements and quarantines of one week to 14 days - some even as high as three weeks. Some countries are totally locked down. Due to this, I expect most international business travel to remain blocked until the second half of 2022.
Schedule a dialog or email us at myfrost@frost.com to connect with an industry expert at no charge. We are taking unprecedented action to make our team available to help you cut through the media and politics to get factual one-to-one guidance for the issues and opportunities that matter most to your business.
