The barbecue fire dies out leaving only a few embers.
The roar of the fireworks echoes and then fades away.
And summer vacations during the shortened work week will be replaced by the return of business travelers.
The stage was set for that recovery.
Tech Connect
PYMNTS Intelligence Summer EditionConsumer Credit Economic MonitorThe report found that 48% of U.S. consumers had travel plans in place as summer approached. trip Travel plans for this summer were already being made as early as April. Travel plans will require at least some significant spending, with consumers anticipating trips costing around $2,400. 78% of consumers said they plan to pay for at least a portion of their trip with a credit card.
Regarding all these connections, the PYMNTS Intelligence Report states:How the world is going digital: How payments impact digital transformation” found that there was a 16% increase in people using airline apps and websites to book and pay for travel. Drilling down further, the digitalization of these activities increased by 2.7%. There was also a cross-pollination, with 79% of consumers who ordered groceries or restaurants online (the dining pillar) also using travel or commute-related sites or apps, accounting for 404 million consumers across the 11 countries surveyed.
The affinity we have As consumers blend work and leisure with business travel to a lesser extent, the stage is set for a corporate travel recovery that has been showing up in revenue and other data over the past few months, and we’ll know more once earnings season gets underway in earnest later this month.
Links from last earnings season
Delta AirlinesRecord of Revenue Revenues in the March quarter were also partly driven by business travel demand, with managed property revenues up 14% year-on-year during the quarter, in line with the trend, as large corporate clients returned to business travel. That is This is especially true for companies in the technology, consumer services and financial services sectors.
Executives expect the trend to continue through the summer. Ninety percent of companies surveyed by Delta Air Lines expect travel volume to increase or remain steady after the June quarter. Delta’s business travel revenue is back to 2019 levels, with business travel volume at 85% to 90% of pre-pandemic levels.
meanwhile, American Express Global Business Travel (Amex GBT) expects an increase in global, multinational customers. their Business Travel During the first quarter.
Travel growth by these companies outpaced growth by small and medium-sized businesses (SMBs) for the first time since the recovery from the pandemic. In the first quarter, Amex GBT saw transaction growth from multinational corporate customers around the world increase 11% year over year, while small and medium-sized business growth increased 5%.
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