Axios What's Next

July 17, 2024
Business travel is finally rebounding after cratering during the COVID-19 pandemic, Alex reports today.
Today's newsletter is 897 words ... a 3½-minute read.
1 big thing: Biz travel booms back
Business travel spending may reach or even top pre-pandemic levels by the end of the year, a new report finds.
Why it matters: Leisure travel bounced back almost immediately after the worst of the COVID-19 pandemic. But business travel — a hugely important revenue source for airlines, hotels and so on — has taken longer to rebound as Zoom replaced some handshake meetings.
Driving the news: Nearly 3 in 4 corporate travel managers expect their company's business trip spending to grow this year, while 58% expect growth in 2025, per a new Deloitte study.
- Those managers predict around 15% spending growth in each year.
Friction point: At least some of that increased spending is being driven by higher travel prices.
- Half of travel managers are pushing or requiring workers to book cheaper flights to save money, Deloitte found, while 38% are doing the same for hotels.
Yes, but: Trip frequency is also up, with 20% of business travelers expecting to take 6-10 trips this year, compared to 15% in 2023.
Zoom in: Broadly speaking, business travelers say they're taking fewer trips to meet with clients or prospective clients about projects.
- Instead, conferences and trade shows are a big draw, with more than 6 in 10 business travelers planning to attend at least one this year, the report finds.
The intrigue: Business trips aren't always just business trips.
- Business travelers love tacking on some personal time while they're away for work, with two-thirds saying they extended a business trip for leisure at least once last year, and 1 in 7 saying they did so at least three times.
- And the vast majority — 83% — of business travelers say their trips are "enjoyable," compared to 3% who dislike them.
Between the lines: The biz travel life ain't all rosy.
- 55% of corporate jet-setters griped about general fatigue, 41% about time away from their family or significant others, and 39% about the ever-increasing stack of work looming back at their desk.
What they did: Deloitte's report is based on two surveys: one of 104 U.S. corporate travel managers conducted between May 16-28, and another of 1,389 business travelers conducted between May 28-June 3.
What they're saying: "More employees are traveling for business — and enjoying it — underscoring that in-person connection often remains a critical component," Deloitte vice chair Eileen Crowley said in a statement accompanying the report.
- "As companies see a renewed benefit in the opportunities business travel provides, business leaders can capitalize on the enthusiasm and prioritize travel experiences that are valuable to both the organization and employee."
The bottom line: See you at the trade shows.
2. Prime Day drives worker injuries, report finds
Almost half of Amazon warehouse workers suffered injuries around the company's past Prime Day sales, according to a new Senate report based on internal company data.
Driving the news: The report found that Amazon's rate of injuries requiring Occupational Safety and Health Administration (OSHA) reporting was over 10 per 100 workers around Prime Day 2019.
- That's more than double the industry average.
Amazon's total injury rate — which includes injuries that the company is not required to report — was almost 45 per 100 workers during the same period, per the report.
The other side: Amazon spokesperson Kelly Nantel says the company has reduced its recordable incident rate by 28% and lost time incident rate by 75% since 2019.
- "But unfortunately, this report (which was not shared with us before publishing) ignores our progress and paints a one-sided, false narrative using only a fraction of the information we've provided," Nantel said.
3. Bikes + Sinatra = Public art
Chicago's newest public art installation mixes movement and music.
Why it matters: Chicago's Mag Mile has been recognized for more than its retail stores — it's also known for its public art displays, including depictions of cows, butterflies and K9s.
Driving the news: The newest installation, Light Lane, features stationary bikes that riders can pedal, powering music like Frank Sinatra's "Chicago."
- LeMonde Studio, a Quebec-based company that creates "greener entertainment by combining art and sensible technology," partnered with The Magnificent Mile Association to bring these bikes to the city and promote cycling.
Check it out: Light Lane is on display in front of Swarovski at 636 N. Michigan Ave. until Aug. 24.
- Or check out our video on Axios Chicago's Instagram page.
4. Florida's "Hamptons of the South"
Smart branding has turned the once-sleepy stretch of sandy white beaches on the Florida panhandle known as 30A into the Hamptons of the South — an exclusive, high-end vacation destination dotted with celebrity homes.
Zoom in: The 26-mile string borrows its name from the scenic highway that winds through 16 beachfront neighborhoods.
- It's becoming increasingly popular as a family travel destination, transforming from a place where restaurants didn't even stay open year-round to a magnet for social media influencers, athletes and celebrities.
What they're saying: "It's a living, breathing Instagram story," says 30A Company CEO Gary John. "The 30A market and energy is like a fashion accessory."
- Visitors or vacation home owners include former "Bachelor" contestant Tia Booth, Tim and Demi Tebow, Chris Stapleton, and more bachelorette parties and Instagram influencers than you can count.
Yes, but: With so much demand comes big price points.
- "This area attracts a very affluent demographic," John says. "At a minimum, upper-upper middle class. You're not touching a home in Alys Beach for under $10 million now."
Big thanks to What's Next copy editor Amy Stern.
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