Over the course of the pandemic, business travel has undergone significant changes. Restrictions have forced companies to modify their operating models, opting for smart working and online or hybrid meetings as permanent fixtures along with in-person activities.
Over the last few years, a great deal of professionalism has also been lost in business travel as a result of millions of redundancies worldwide for workers who have shifted into other sectors.
Today, the market appears more fragmented, with a prevalence of small and medium-sized companies. There has been a recovery in travel, even if people are traveling less, but with greater efficiency as a result of intelligent spend management, or rather the ability to evaluate all the factors which require spending and not just travel itself.
The pandemic has stimulated a digital boom in this sector as well. 41% of global transactions are contactless. The consumer market for digital payments grew 24% in the pandemic year, and 84% of companies have introduced new payment systems or are in the process of doing so. The phenomenon that is being seen is centralization, or the disappearance of Company credit cards. In this scenario, the virtual credit card is the digital financial instrument that is growing the most.
An in-depth study can be found on Guidaviaggi
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