State and national borders have progressively opened since November 2021. However travel conditions have changed since pre-covid and it’s a new world order for corporate travel out there.

Impact of COVID on business travel

Lockdowns and remote working have increased the popularity of video conferencing apps, such as Zoom and Microsoft Teams. Some companies will continue to use these though they won’t replace the need for face-to-face meetings, on-site inspections, etc.

The top concerns for business travellers are infection and vaccination rates at the destination. Being more environmentally sustainable in making their trip is also of concern. Travellers are demanding more flexibility from employers in choosing alternative airlines, hotels, and transportation providers.

Long term impact expected

The long term impact has been widely discussed as to when business travel will return to pre-covid times. Some estimates range from 50% to only a 20% decrease. Professional services firm McKinsey is optimistic it will recover to 80% of pre-covid levels by 2024.

There will be an impact on the viability of CBD hotels, particularly those primed for business travellers with their spacious conference venues. Regional travel, especially in the manufacturing and construction industry where in-person contact is necessary, will return first, while international air travel, for events such as conferences, trade shows and exhibitions will follow.

How to travel safely during COVID

The Insurance Council of Australia has deemed travel insurance as crucial as a passport for overseas trips. Some insurers are offering COVID-related travel cover, whilst some countries require overseas visitors to have cover for COVID-related medical treatment.

Be on the lookout, too, for flights and accommodation with generous COVID cancellation policies. And make sure your employer aims for failsafe measures for your health and safety.

What travel insurance is likely to cover

Regular travel insurance will typically cover you for medical and dental needs and assistance, changed or cancelled travel plans, lost luggage and theft.

It pays to check if your policy covers you for the costs of cancellation if you contract COVID-19 or due to pandemic lockdowns or government restrictions.

If you would like to know more how insurance cover can reduce your risks of business travel, please CLICK HERE or contact us for more information.