Business Travel Sentiment Still Lags
Skift Take
- The positive start to the day deteriorated quickly with the DJIA ending the day down 308 points, while Nasdaq was down 135 and the S&P 500 fell 44 points. The 10-year Treasury yield ended the day flat at 3.11%. VCSA was the only major mover, down -9% on the day.
- STR’s consumer research in July 2022 produced telling insights into the state of business travel worldwide. Roughly 400 global business travelers were asked to thank about their likelihood to travel for business both now and when the pandemic is over, the results, remained in negative territory.
- A recently released Global Travel Association report cites global business travel coming back albeit against significant headwinds.
The positive start to the day deteriorated quickly with the DJIA ending the day down 308 points, while Nasdaq was down 135 and the S&P 500 fell 44 points. The 10-year Treasury yield ended the day flat at 3.11%. VCSA was the only major mover, down -9% on the day.
STR’s consumer research in July 2022 produced telling insights into the state of business travel worldwide. Roughly 400 global business travelers were asked to thank about their likelihood to travel for business both now and when the pandemic is over, the results, remained in negative territory. 55% of respondents are less likely to travel overnight for business now compared with pre-pandemic time, while 40% are more likely to travel for overnight business when the pandemic ends. Business travel sentiment in July 2022 dropped after showing an increase in May 2022. Recession fears and recent air travel delays are likely adding to further disincentive to travel. The
