Small businesses gain numerous benefits and personal perks from corporate travel beyond the bottom line, which will lead to an increase in business travel in 2023 and good news for advisors, according to a new Corporate Traveller survey.
Three-quarters (72%) of respondents, comprising 255 Australian small-to-medium enterprise (SME) owners and decision-makers, said they gained personal benefits from corporate travel.
Networking opportunities and meeting new people (37%) topped the list of business travel benefits followed by time spent outside the office (36%) and career advancement and connecting with colleagues (33% for each).
Other benefits that ranked highly for Aussie corporates included trying new hotels (32%), experiencing new destinations (28%), accumulating frequent flyer points(27%) and trying new dining experiences and taking time away from home (an equal 26%).
Victorian business travellers seem to value time away from the office the most with nearly half (49%) indicating this compared with 35 per cent of NSW business travellers, 32 per cent of West Australians, 29 per cent of South Australians and 24 per cent of Queenslanders.
Corporates crave connection
Despite the shift to permanent remote or hybrid work, Corporate Traveller Global Managing Director Tom Walley said the survey indicates many executives crave the personal connection and networking opportunities available through business travel.
“With this in mind, businesses could consider increasing their travel this year with a particular focus on attending events and connecting and communicating with overseas teams. These changes could help keep staff motivated and engaged,” Mr Walley said.
Older corporate travellers were more likely to value connecting with work colleagues on business trips with 36 per cent of over-55s selecting this benefit followed by 35 per cent of 35-54-year-olds and 29 per cent of under-35s.
Mr Walley also noted that frequent flyer points accumulated through business travel can offer benefits that corporates can use in their personal lives such as holidays, flight upgrades and shopping.
“Accruing points at no personal cost through work allows business travellers to experience luxuries at a lower cost,” he said.
“It’s a fantastic time for business travellers who are accumulating a multitude of points to take international holidays using their frequent flyer rewards.”
SMEs can also enter the FCBT Corporate Travel Grant by 31 March 2023 to win more than $40,000 in travel prizes.
For more info, head to corporatetraveller.com.au