Inflation Be Damned as Companies Encourage Travel No Matter What
Photo Credit: Rising gas prices are already impact business travel. Unsplash / Paul Hanaoka
Skift Take
Pent-up demand seems to be trumping any worries that businesses might have over rising travel costs, which isn't your typical pre-pandemic trait. But a clash with tourists this summer might put the brakes on spending.
Pent-up demand is trumping inflationary hikes in travel costs, as businesses "open the taps" to encourage their employees to get moving again.
Inflation may be starting to dampen demand for summer vacations, but companies are willing to pay the price despite the continuing rises in airfares — for now.
They've got no cap in place, according to one corporate travel agency, which is currently reminding clients to plan ahead, as experts warn rising gas prices are already affecting taxi and car rental booking habits.
"You’re going to spend a hell of a lot more than you think you are," warned Adam Knights, regional managing director for the UK, Europe and Middle East at ATPI.
"Account management reviews at the moment are literally: forget about average ticket prices, and all of the previous metrics to measure your travel, it is just going to go through the roof."
Knights said he's seen the volume of
