In the midst of growing economic uncertainty, a recent survey conducted by American Express Canada highlights prevailing attitudes towards the return to business travel.
According to the survey, professionals born between the late 1990s and mid-2000s are more likely to take the lead in reviving business travel, as 64 per cent of them stated business travel will be a 鈥渢op鈥� or 鈥渉igh鈥� priority for them in 2023.
This is a notably higher percentage compared to other generations, including millennials, with 39 per cent who feel the same way.
The survey also found that 58 per cent of Gen Z respondents said they plan to travel more for work in 2023 than they did in 2022. Since January 2022, they have traveled between one and five times for business reasons.
The survey findings show that 39 per cent of Gen Z professionals traveled domestically most often for business purposes while 30 per cent said they traveled internationally for the same purpose.
For over half (52 per cent) of Gen Z respondents 鈥渕eeting with clients鈥� was the primary reason for conducting business travel. Other top reasons include knowledge building, team building, and meeting potential partners.
When it comes to Millennials, 49 per cent of them said they want to travel for work this year, while the proportion is 42 per cent in Gen X and 29 per cent for Baby Boomers.
When respondents from different age groups were asked about the significance of travel for business purposes, 75 per cent of Gen Z professionals regarded it as 鈥渆xtremely鈥� or 鈥渧ery鈥� important.
According to the survey, cost of travel is the primary concern for Gen Z professionals (43 per cent) followed by airport delays (36 per cent), and environmental impact (29 per cent) and it may impact their business travel decisions.
The survey findings show the majority of Gen Z respondents (88 per cent) expressed their willingness to incorporate personal vacation or personal time off into their business travel plans鈥�75 per cent of Millennials and 62 per cent of Gen X professionals share the same intention.
Methodology
This Maru Public Opinion survey conducted on behalf of North Strategic was undertaken by the sample and data collection experts at Maru/Blue among 404 randomly selected Canadian business travelers who are Maru Voice Canada, online panelists. They were surveyed from May 12th to 17th 2023. For comparison purposes, a probability sample of this size has an estimated margin of error (which measures sampling variability) of ±5 per cent, 19 times out of 20.
