A new study titled "The Future is Now: Technological Transformation in Corporate Travel," published by the Global Business Travel Association (GBTA) and supported by Cvent, underscores the critical role of technology in revolutionizing the corporate travel industry. The report, based on surveys of business travel professionals in North America and Europe, reveals that while a majority of travel management companies (TMCs) and suppliers believe their organizations effectively utilize technology, there remains significant potential for further integration of advanced technologies such as artificial intelligence and blockchain.
Despite a general expectation that travel program spending on technology will remain flat, the study finds that most TMCs and suppliers are increasing their investment in technology, particularly in AI-driven tools and blockchain solutions. However, lodging suppliers are notably less inclined to boost technology spending compared to other sectors.
Cvent, a leading provider of meetings, events, and hospitality technology, supports this technological advancement within the industry. With over 4,800 employees and a global presence, Cvent offers comprehensive event marketing and management platforms that enable event professionals to create impactful experiences. GBTA, headquartered in the Washington, D.C. area, is the world’s leading business travel and meetings trade organization, representing a $1.484 trillion global industry. Through this partnership, both organizations aim to accelerate the adoption of emerging technologies in corporate travel, enhancing efficiency and competitiveness across the industry.
