Month: February 2024

The Future of the Business Travel Market: Between Digital Evolution and Growing Travel Ambitions

Digital Business Travel Market

The future of the business travel market is undergoing an exciting evolution, as current world events and trends shape the sector’s dynamics significantly. What does the future of business travel look like, and what role does Germany play as a destination for business travelers? A study by the German Business Travel Association (VDR) published last year and contributions from the GCB provide valuable forecasts:

The trend is towards longer and more expensive business trips:
In 2022, the average duration of business trips increased to 2.4 days compared to the previous year. At the same time, the cost per day increased by 11% to €371.00.

The overseas travels undertaken by German companies hold significant importance:
Of the companies surveyed, 92% conducted international business trips. Additionally, about one in four business trips was an international stay in 2022.

Germany leads the ranking of European business travel destinations:
In 2022, approximately 9.2 million European business trips were made to Germany. This accounts for more than 20% of all European business trips (46.8 million).

The international destinations of German companies are changing:
Neighboring countries Switzerland and Austria are gaining importance, while the United States, China, and the United Kingdom are falling behind in the business travel ranking. The rise of India as a German business travel destination is also noteworthy. In 2022, more than 1,700 German companies were located there.

In-person events are experiencing a significant renaissance:
The significant success of in-person formats show that the demand for face-to-face interactions will continue in the future. Whether as a source of inspiration or a platform for networking and constructive dialogues, business events are instruments for solving complex issues and promoting knowledge transfer. According to the recent Future Meeting Space study “Redefining Event Attendance,” about 92% of respondents attend events for networking purposes.

Digitalization is changing everything:
The advancing development of hybrid formats, combining personal and virtual interaction, is seen as key to success in the future mix of event formats. New opportunities are emerging, allowing event reach to expand and including individuals regardless of location.

New Work redefines business travel:
People increasingly combine multiple different occasions into a single trip, creating sustainable events. The concepts of Staycation (leisure activities in one’s own work environment), Bleisure (extending a business trip for personal purposes), and Workation (traveling to attractive destinations to work there as well) show: Work and leisure will be increasingly interconnected in the future.

The business trips of the future will be more efficient and expensive. Old routines are being reinterpreted within the framework of digitization and New Work. German companies benefit from the economic strength of their location and can respond optimally to the trend towards hybrid formats. Those who master the perfect balance between physical presence and digital networking will become international pioneers.

With AI and Digital Participant Management to the Next Level

AI trade fair industry

In Hannover, the HANNOVER MESSE has just celebrated the premiere of its first AI conference and the GCB is emphasizing how modern event technology is revolutionizing the trade fair industry. What once appeared as distant future prospects now transform into an exhilarating reality. Which opportunities and challenges does the era of AI and automation bring? We, at TEST Hotelreservation & Events have examined digital future trends for you!

It is January 24, 2024, and in Frankfurt am Main, a special series of conferences is beginning. The first AI conference of the HANNOVER Messe is progressive, pragmatic, and sets an important example: Artificial Intelligence is entering the German trade fair industry, and businesses that grasp the importance and potential of this innovative technology can experience substantial benefits.

In this context, the organizer, Hubertus von Monschaw and his team, also highlight that a trade fair is much more than just a short-term event. Indeed, they emphasize the importance of continuous offerings to reach target groups throughout the year. The AI conference is a central part of this strategy, supported by regular specialized newsletters, sponsorships of AI events, and partnerships with AI podcasts. The long-term goal of the HANNOVER MESSE is to establish itself as the leading industry platform for AI and to attract attention from new companies. First conclusion of the conference: The industry is responding enthusiastically. Sold out! (Source: https://www.messe.de, Messe  News: „Eine Messe ist mehr als ein fünftägiges Ereignis“)

The HANNOVER Messe isn’t the only one reconsidering the trade fair industry; the GCB is also investing in the progressive advancement of event technology. The association’s website explains “Why Event Tech is becoming increasingly important.” Whether it’s online registrations, participant management tools, payment systems, or mobile event apps – what once started as a trend has now become a solid pillar in the event industry. Markus Laibacher, Regional Sales Director at Cvent, emphasizes: “Personalization at events means that planners not only save time through automation and streamlining of workflows but also need to invest more time and resources in the use of this event technology for segmentation and targeting.”. (Source: https://www.gcb.de, Meldung: „Warum Event-Tech immer wichtiger wird“)

So, how do you combine the digital evolution of your company with a full day-to-day business and a lack of internal tech experts? How can you keep up with digital transformation and establish yourself as a pioneer within the era of digitization? At TEST Hotelreservation & Events, we have developed a flexible, customer-oriented solution with our digital Participant Management Software: Our TEST Meeting-Manager is a web-based all-rounder that ensures transparency and control, reduces your administrative burden, and helps save valuable time and costs! – From sending invitations to billing.

The comprehensive software capabilities of the Meeting Manager include:

  • Corporate design – visually coordinated to perfection
  • Invitation management – personalized via email
  • Dynamic registration forms – tailored to your requirements
  • Hotel management – user-friendly room search
  • Event management – unique company events
  • Reporting – professional numerical overview
  • Additional services – customized solutions all around

Exact future predictions are not part of our business, but like the HANNOVER Messe and the GCB, we at TEST Hotelreservation & Events are convinced that modern technologies will revolutionize our trade fair industry. Collaborate with us to adopt digital solutions and try out our TEST Meeting Manager today, free of obligation. Soon, your company will also experience a leap forward: Level Up!