Introduction: Travel is back in focus
A boost in the confidence of leisure travelers has led to a growing intent to travel, with people having started planning for 2025 early. Comparing to 2024, searches during Q3 for 2025 travel dates increased by 10% in EMEA a promising sign of strong travel demand for the upcoming year. 1
For business travel, 48% of respondents in a 2021 AirPlus survey predicted that, by 2024, their company’s business travel activity would rebound to an even higher level than in 2019, with 79% of these respondents citing the importance of personal interaction with customers and suppliers as a driver of this travel recovery.²
And they were not wrong! The business travel industry has proven itself resilient as it leaves the global pandemic behind and moves into a new era of post-pandemic stabilization. The forecast for 2024 predicted that global business travel spending have reached $1.48 trillion USD by the end of that year, an increase on 2019 spending which was a previous record at $1.43 trillion. Additionally, by 2028, it is projected to exceed $2.0 trillion, highlighting a robust path ahead for the business travel sector in terms of spending.³
With the return of travel, digitalization is as important as ever. The trend toward online retailing has gained even more momentum since the pandemic – a time when the Internet was practically the only accessible environment.
How has digitalization in e-commerce impacted the travel trade ecosystem? Which business model fits best for tackling the associated challenges and getting the most out of their retail business?
In this eBook, we’ll be exploring these questions. And since payment strategies play a central role in business success, we’ll analyze how and why virtual cards are a good fit for travel intermediaries to ensure smooth purchasing of travel services for delivery to end customers.
