How business travel may adapt to COVID-19

bic event

Based on collaborative research between WTTC and McKinsey & Company, as well as insights from key stakeholders, the report lays forth WTTC’s viewpoint on business travel and how it may adapt to COVID-19. Business travel is essential to most sectors of the global economy. The MICE industry, in particular, has an influence on both the supply and demand sides of business travel. Indeed, this industry brings travellers to destinations, positively impacting all facets of travel and tourism and shaping business travel demand through its offerings. These kinds of events are crucial for both business travel providers and the destinations where they occur. Organisations involved in the MICE segment could play a role in providing new business models, ensuring the safety of existing models, and developing hybrid strategies to host events, thereby increasing demand for business travel. Companies could offer virtual and hybrid alternatives to in-person events and diversify the use of venues beyond corporate events. They could also increase their b-leisure offerings to take advantage of this growing trend.