The latest government data underscores the dramatic shift in international business travel, now standing at only 72% of pre-pandemic levels. This statistic paints a compelling picture of the long-lasting impact of the global health crisis on UK businesses.
Henry Smith, Head of SEO at Dark Horse, cites multiple factors behind this decline:
Fewer Businesses: The data shows a notable decrease in the number of UK companies, with business closures rising from 299,000 to 327,000 between 2020 and 2021, representing an 11.1% mortality rate compared to 10.3% in 2020.
Rise Of Virtual Collaboration: Video conference calls have emerged as a cost-effective and efficient alternative to international travel. Notably, Zoom experienced an unprecedented surge in users, surpassing 300 million worldwide users. This represents a staggering 2900% increase between 2019 and 2020.
Remote Work Revolution: Remote work has become the new norm, enabling businesses to collaborate with international partners and employees without needing physical travel. The number of job advertisements featuring remote work benefits peaked at 8.5% in February 2021, a substantial increase from the 2.7% recorded in May 2019, marking a remarkable 315% growth.
Sustainable Business Practices: Heightened awareness of the environmental consequences of frequent business travel has prompted a shift towards more sustainable practices. Companies are now prioritising planting trees over jetting across borders in their pursuit of environmentally responsible corporate operations.
Henry concludes: "The global pandemic has ushered in a transformative era in the business world, and its effects are still reverberating today."
"The decline in international business travel is but one facet of the sweeping changes that have reshaped the corporate landscape."
