According to Morgan Stanley research, even as corporate travel leaders try to cut expenses using virtual meeting technology, travel expenditures do not appear to be declining as 2023’s second half approaches. Second-half 2023 travel budgets would increase by an average of more than 9 per cent year over year, the research said. The study, conducted by Morgan Stanley from 16 to 31 May, gathered responses from 92 corporate travel managers worldwide. In 2023, travel managers anticipate that virtual meetings would replace 18 per cent of their in-person meetings, according to Morgan Stanley study.
