What is bleisure? 

Bleisure is the fusion of business and leisure travel. It refers to the growing trend among business professionals who extend their work trips to include elements of relaxation and exploration. In essence, bleisure transforms the traditional notion of business travel into a more enjoyable experience. Here are some key features of bleisure travel:

• Extended stay: Bleisure involves prolonging your stay at a destination beyond the duration of your work commitments. This extension allows you to immerse yourself in local culture and unwind after the hustle of business meetings.
• Flexibility: Unlike traditional business trips that strictly adhere to a tight schedule, bleisure travel offers flexibility. Professionals can tailor their itineraries to include downtime, giving them the freedom to make the most of their time away. 
• Networking opportunities: Bleisure also opens up unique networking opportunities in a more relaxed setting. Building connections over a shared meal or exploring a new city together can foster stronger professional relationships.

What’s trending in bleisure? 

The global bleisure travel market, valued at $315.3 billion in 2022, is expected to reach an . With such emphasis on bleisure travel, let’s take a closer look at insights into bleisure travelers and their bleisure behavior.��

• : 79% of bleisure travelers state they volunteer more frequently for business trips where they can extend and enjoy some vacation time.
• : 17% of bleisure trips last four nights or more, 31% are three nights in length, 39% are for two nights, and just 12% of bleisure travelers are away for only one night.
• Age: Engagement with bleisure travel varies from generation to generation with Millennial employees (86%) more likely to add on leisure time than Gen Xers (76%) or baby boomers (73%).
• : New York City generates the most bleisure trips each year, with Paris coming in second and London third.

Another important trend to note is that 36% of bleisure travelers have family or acquaintances at the destination they are traveling to. 

What bleisure opportunities are out there? 

Bleisure travel has become a game-changer for the travel industry and offers opportunities for travel agencies, hotels, and airlines. The rise of bleisure has led to a notable increase in overall travel spending, with travelers extending their duration of bleisure travel by as the majority of travel now lasts for 10 or more days.��

For travel agencies, this trend translates into a growing market for personalized itineraries that seamlessly blend business and leisure experiences. Hotels have witnessed a surge in bookings. Prior to the COVID-19 pandemic, 60% of business travel was extended for leisure purposes. This presents an opportunity for hoteliers to promote exclusive packages and amenities catering to this dual-purpose audience. Airlines, too, benefit from the bleisure boom, as the demand for flexible and extended travel arrangements continue to soar.��

Travel suppliers

The bleisure traveler is practically a new category of traveler — with two-in-one possibilities. Industry suppliers can cross-sell leisure-related products and services to business travelers and vice versa.

• Hoteliers can develop packages and marketing campaigns to delight guests’ spouses and families with other amenities, from in-room dining to spa services. This means they can boost their concierge services — partner with local package tour vendors, for example — and attract the interest of business travelers they may not have thought to target with recreational offers. And there’s the obvious opportunity to sell more overnight stays to business guests who want to stay in town after their work is done. Or, if a meeting or convention is booked at the property, the event planner can suggest pre- and post-event activities for participants, in and around the hotel.
• Airlines, too, can benefit from bleisure travelers, selling additional seats to business flyers’ family members — working with their corporate travel managers to enhance the booking experience and make trip planning easier.

Employers

The companies who send their employees out on the road or abroad are the parties to thank for the bleisure phenomenon: They’re enabling their road warriors and jetsetters to have some non-business fun on their trip, enhancing their work/life balance. Employers are looking for ways to boost employee engagement, build loyalty, and increase employee satisfaction — bleisure trips fit the bill. According to , 79% of bleisure travelers state they volunteer more frequently for business trips where they can extend and enjoy some vacation time.

Happier employees who are more satisfied with their company’s travel program might even be more productive — and even contribute to better business outcomes. There may not be a study to back up the claim, but it’s possible that when compared with an overtired, disgruntled salesperson, a relaxed, loyal salesperson puts more energy into their customer relationships, isn’t it? 

Another consideration for employers is the “bleisure effect” of stronger relationships with suppliers. If a travel policy encourages employees to use preferred suppliers while exploring a city after business is done, the supplier benefits. This win-win arrangement might lead to more favorable contract terms or discounts for bleisure bookings. 

Destinations

Business travelers may extend their trips into the personal realm to explore a new city, get some much-needed rest in fresh surroundings, or spend time with family and friends. In any case, it results in more business for the destination city — hotels, restaurants, tourist attractions, and more. 

Bleisure traffic has led to destinations taking on new marketing strategies to help visitors get the most of their trips. Being aware of the phenomenon is the first step, and the second is reaching out to travel industry partners to devise and promote special offers, including those that encourage repeat visits — for business, leisure, or both.

The information in this blog post is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.

The post Bleisure travel trends and what they mean for your business appeared first on ����Vlog..

Key elements of a corporate T&E offering

A T&E card is a corporate credit card given to employees to pay for their work-related travel and entertainment expenses. Typically restricted to certain types of purchases and dollar limits, T&E cards free employees from having to use their personal cards for business expenses and from needing to submit out-of-pocket expense reports.����

Employees love T&E cards because they are particularly handy for small, irregular purchases such as office supplies, shipping, or meeting catering. When tied to a virtual card program, companies can extend a single-use virtual card for some T&E expenses, if, for instance, a prospective employee or consultant is flying in for one night.   

When these transactions are managed directly in the corporate system, our clients find that the expense and payments process moves faster and gives the company access to detailed cost allocation and transaction data that it might not have with a personal card.  

Why working with an issuer is a better approach to T&E card management

While T&E cards have evolved quite a bit from the first Diner’s Card issued back in the 1950s, they remain a staple of corporate finance for a very good reason: they help finance teams save time and money.  

Corporate travel booking, trip management, and expense reporting have become ever more closely integrated in recent years, with travel managers, corporate leadership, and employees all recognizing the benefits of using a centralized system. But one major piece of the corporate travel puzzle—payment cards—remains an outlier, often managed as a separate service provided by an issuing bank. Since ����Vlogcan also serve as the issuer, our solution integrates T&E cards into the same payments processing solution that the company uses for accounts payable and receivables.

There are many benefits to working directly with an issuer for T&E and other corporate payment card solutions.

• Savings and discounts: A T&E card makes it easier for companies to access usage data so they can negotiate supplier prices and extra benefits. These benefits may include no change fees for changing flights and automatic upgrades on those flights, hotels, and car rentals. This type of card can also provide unique travel benefits such as travel insurance and dedicated customer service representatives.
• Reporting: ����Vlogis both the issuer and the system of record, so we house all the data, and receive and transmit the data between the suppliers and the buyer. As a result, our corporate customers can access near real-time data. Companies can see expenses immediately and do not need to wait for data to show up in an outside third party software. 

Since ����Vlogintegrates T&E card management into our larger payments platform, our customers get one report with everything across all payments areas. This sightline into the true spending across the board may also increase a company’s rebate or cash reward potential.

• Control employee spend: By far the biggest perk attached to corporate cards is the ease of tracking employee spend. Companies always want to manage spending, and look to control the use of the corporate T&E card both with amount limits and at the spend category level. Our customers will often place controls at the merchant category code (MCC) level, or limit the type of spending by department or user profile. For example, a marketing person may only be authorized to buy printing and advertising from certain suppliers, whereas an office manager needs access to supply stores, food and catering services, and incidentals like shipping.

Our customers log into the same system to manage these controls and limits, and view real-time transactions as they do to manage their other payables to suppliers of goods and services to support their business model.

• Fraud protection: By nature of their use in hospitality and other public places, corporate T&E cards are exposed to theft and fraud risks. If the management of fraud is manual or relies on periodic statements, it can be easy to miss clues to high-risk employee behavior or allow fraud to continue undetected until the company must be responsible for the loss or have to go through a chargeback process to recover. It’s so much more secure and efficient to use built-in fraud alerts like those in the ����Vlogpayments platform. Risk teams need to have immediate access to transactions to enable a quick response.
• Support: Another benefit to keeping T&E card management within your corporate payments solution is to ensure that someone inside your company can manage blocks, lost cards, or limit adjustments according to your own rules and policies. For many companies, it’s essential to business continuity and sales revenue to make sure that a traveling employee or a field employee can call in to get immediate help from someone who shares their sense of urgency.
• Flexibility: Most T&E cards are plastic/physical, as is the offering from WEX. However, issuers like ����Vlogcan also make virtual purchasing cards available, which are accepted just as any credit card. With the same controls, fraud protection, and tracking, these virtual cards can be used in online portals, to order food delivery, and manage regular shipments of office supplies, and software subscriptions.

A one-stop accounts payable (AP) solution for corporate payments

As any finance team member will tell you, when it comes to keeping the business on track, the fewer systems you need to log into the better. If your AP solution can also manage your T&E and other corporate cards, it will save you time and increase team productivity, as well as make consolidated reporting more consistent and accessible.  

If your payments solution provider is also the issuer, as ����Vlogis, then they become the system of record for your p-card (physical) and v-card (virtual) solutions, including T&E cards for corporate and personal liability. If you work directly with the issuer, you may also have opportunities to earn cash back on every transaction processed. 

Learn more about how ����Vlogpayment solutions can be tailored to your business, so you can operate easier and faster while creating lasting growth and success.

The post The better way to offer T&E cards to your employees appeared first on ����Vlog..

Set Clear Goals For Your Business Travel Program

According to the , the first step travel managers should take is to define the top five to ten goals for their travel program. This will be different for each company, and will depend on the size of the business, the number of traveling employees and the complexities of the travel program and type of travel.

Define your challenges and let the prospective vendor tell you how they can solve that challenge. Are you trying to save money? Do you want better data? Do you need to better ensure your employees are safe? Do you want an easier way to book travel while controlling certain parameters? Different vendors have different strengths, so in order to find the perfect one, you will need to be straightforward about your company’s needs.

Key Questions To Ask When Choosing A TMC

At the recent in London, a panel of experts discussed how to choose the best TMC and how to structure the relationship so it fits your company’s needs.

The panel, ‘Choosing a travel management company and other partners’ consisted of experts from each area of business travel from TMC to client, and included Adrian Parkes, Chief Executive of the Guild of Travel Management Companies, David Bishop of the Gray Dawes Group, Nikki Rogan, Global Travel Manager for Synamedia, and consultant Simon Bennett. Their 5 questions to ask when narrowing down your choices were:

1. What booking channels are available? TMCs each allow travel to be booked in different ways. Identify how your travelers are currently booking and what channels should be available in the future. Investigate platforms offered by prospective TMCs.
2. What is the TMC’s approach? What are you looking for in a TMC? Are you looking for a partner who can guide you to the best solution? The best partners will be those who will learn your business (or are already experienced in your type of business) and can make suggestions that benefit you without you having to ask.
3. What technologies do they use? Are they innovative companies who are keeping up with the latest trends? You will likely want to partner with a company that has a robust technology team. After all, employees will want smooth user interfaces and intuitive design to book their travel. The better the platform, the better the adherence to using preferred channels.
4. What are the costs, and what are the savings? There will always be a fee, but how can those fees be offset by savings in resources, better rates from travel suppliers, improved control over traveler safety, better policy adherence?
5. Will they meet the needs of your finance team? Get your finance team involved and find out what would make their lives easier. More than likely, their answer will be “data.” Look for TMCs who partner with a payments provider offering virtual payments. Virtual payments make use of single-use virtual card numbers (VCNs) that offer enhanced data for each trip or booking for improved spend tracking and reporting. VCNs also facilitate billback to cut time spent managing travel expenses and facilitate adherence to travel spending policies.

The final step before sending out requests for proposals (RFPs) is to narrow your list. RFPs are a lot of work, and you want to be sure before that point that you are considering the very best ~TMCs for you. Ask questions, check references, find out who your competitors are using, and be sure you know exactly what your goals are before you ask for proposals.

For a thorough checklist of selecting a TMC, see this resource by .

And as a bonus thought, consider this. Your business travel policy can actually have an impact on employee recruitment and retention. For younger generations in particular, business travel is not just a job obligation, but a perk. So when you’re creating your travel policy, consider not just cost savings and the safety of employees, but think about how the policy can attract and retain talent. Read more on here and check out our Bleisure Travel Doesn’t Have To Make Expenses Complicated article to learn how to allow travelers to combine business and leisure travel without creating expense headaches.

The post Is It Time To Choose A (Or Switch To A New) TMC? appeared first on ����Vlog..

New Markets & Opportunities

In today’s fast-paced world, many travelers are looking to slow down. The “slow travel” movement and the trend toward experiential travel show that travelers are not all interested in cramming as much into a trip as possible. A recent of travel trends reported that 25% of travelers were planning trips based on the journey rather than the destination, such as an “epic road or rail journey” this year. Generational differences play a role, and it’s actually the youngest generation (Generation Z) that is most enthusiastic about train travel. for Europe showed Gen Z is the likeliest generation to travel by train with 13% saying they traveled by rail for their latest trip, compared with 9% of Millennials and 8% of Boomers.

The luxury market is another key opportunity for rail travel. The luxury segment is the , and is making a shift toward more authentic and unique experiences. Travel companies are paying attention and leveraging the mystique of train travel’s golden era to recreate an elegant and luxurious rail experience.

Marketing Nostalgia & Luxury

Many companies are tapping into the power of nostalgia to sell rail travel. Great Western Railway, in an effort to attract more leisure travelers, launched an ad campaign based on the 1940s children’s adventure novels, The Famous Five. Amanda Burns, head of sales and marketing explained their focus on nostalgia, saying to Skift “We had to stop thinking of GWR as getting from A to B and instead give them something much more powerful, which was that feeling.”

Belmond’s Venice-Simplon-Orient-Express evokes nostalgia through the train’s name (and associated literary murder), and by recreating the luxury of the original line. in Portugal also taps into an elegant history. The 1890 train, which was the royal train for King Dom Luis I, was recently restored and now provides a full luxury and cultural experience to tourists, with wine tours and fine dining included. The El Transcantabrico Gran Lujo in Spain and Belmond’s routes in Ireland, Scotland, and England are other examples of train journeys that cater to the luxury market.

Travel Companies Are Getting On Board ��

Travel companies are getting in on the action by providing the expertise and connections that rail operators need to sell their experiences. The in Canada, which sells 80% of its trips through agents, recently launched a popular program for travel agents to educate them on their product and dispel common myths. The successful partnership between the company and travel agents has been vital to their growth.

Travel companies are also finding success by putting together their own packages. Great Rail Journeys offers packages throughout Europe on some of the best known and most scenic lines, such as the West Highland Line in Scotland and the Glacier Express in Switzerland. Tours utilize many of the continent’s high speed rail routes, such as the Eurostar, TGV and InterCity, and include hotel stays and some meals as part of the package. operates in a similar fashion, with both escorted and independent rail tours. , which focuses on slow travel, provides affordable, custom experiences throughout Europe that use public rail lines.

Making Much Needed Investments

On the other side of the equation, rail operators are doing their part to make rail travel a better experience. Recognizing that old trains and outdated technology are hindering their business, they are making strides in modernizing their routes, trains, and systems. Across Europe, huge investments are being made on upgrades. One notable example is the , which runs overnight services from London to Scotland. The company invested over €100 million to bring in new carriages that will be more comfortable to modern travelers and more appealing to tourists, such as double beds, en-suite rooms, as well as amenities such as “Highland-sourced menus” that appeal to those searching out cultural experiences.

In an effort to make rail travel easier to find and book, a number of major rail operators are also in the process of replacing their sales, distribution, ticketing and revenue management systems. recently reported that rail tech company SilverRail (owned by Expedia) is integrating with two of the world’s five-largest travel management companies to enable corporate clients to more easily book rail tickets. Dutch rail tech vendor Sqills, which worked with IrishRail last year, has begun to implement its sales and distribution suite with rail operator��. A number of other European rail operators are exploring options as well. And Virgin Trains recently launched an industry first: They can now with Amazon Alexa.

Travelers are finding that rail travel offers a number of benefits over other options. The comfort of being able to move around on a journey, amenities such as onboard Wi-Fi, and, the ability to take in the landscapes flying by appeal to many travelers. With upgraded trains and technology, and well thought out experiences, rail operators and travel companies are hoping their efforts pay off and usher in a new golden age of rail travel.

The post Is Train Travel About To Have A Renaissance? appeared first on ����Vlog..

According to a , research from travel company On the Beach shows the Canary Islands, resorts across mainland Spain, and the Balearics as the hottest destination for Brits this coming winter, based on booking data. Other popular hotspots include Malta, Morocco, Egypt, and Cyprus.

The same research showed an emergence in the “fastest growing destination” category of two areas that were once favorites but have fallen off due to safety concerns: Turkey and Tunisia. This shows that the Brits are keen to return to their favorite destinations and spend their travel money in areas that have seen a downturn in recent years. In a similar fashion, after a long period of decline caused by political uncertainty and safety concerns.

Research from the , while less current, backs up the fact that the Brits are continuing to travel in droves. The latest release of their “travel trends” data reports that “there were 72.8 million visits overseas by UK residents in 2017, the highest figure recorded by the International Passenger Survey (IPS). There were 46.6 million holiday visits abroad by UK residents, 4% more than in 2016 and accounting for almost two-thirds (64%) of visits. By comparison, there were 29.1 million holiday visits abroad in 1997.”

In addition to the usual warm weather climates in the winter, some more unusual trends have surfaced of late. One is a trend toward “dark tourism.” In research by kiwi.com, flight searches for dark tourism has tripled in the last two years, including searches for nuclear reaction site Chernobyl increasing by over 1000%. Interest in Nazi concentration camp site Auschwitz and voodoo hotspots New Orleans and Benin are also on the rise. Whether the interest is historical, morbid, or just an interest in paths less traveled is undecided, but the trend is certainly growing.

Another trend that travel operators are paying close attention to is the growing demand for solo travel, particularly for female travelers of all ages. , one in nine travelers reported that they took a holiday on their own in the previous 12 months – double the number compared to six years previous. An in-depth article from the reported that many companies are encouraging this burgeoning group by forgoing the once ubiquitous “single supplement” that penalized single travelers by charging more for single rooms. Many single travelers are choosing group tours where they know they’ll be able to go out on their own when the want, while also joining the group when they desire.

All of these trends confirm that Brits will more than likely not be sticking close to home, even as Brexit is finalized. For travel companies making arrangements for these travelers, the hassle of dealing with foreign currencies is easily managed by a payment solution from WEX. Our virtual payments solution allows travel companies to pay suppliers in over 150 currencies worldwide, avoiding exchange rate markups and cross-currency fees. You can also avoid exchange rate fluctuation risk by settling your payment in the same currency as the supplier is paid for up to 21 currencies globally.

The UK travel market continues to look strong. So simplify your supplier payments process with our global virtual payments solution. The team of global currency experts at ����Vlogwill identify and customize the best currency strategies for your business, minimizing FX markups and cross-currency fees.

The post Brits Love for Overseas Travel Not Hampered By Brexit appeared first on ����Vlog..

CNP transactions – those that are processed without a card physically presented to a merchant, such as by phone or online – have become a top target for fraudsters. How bad is it? A recent study estimated that worldwide in the period from 2017 to 2021. And while all industries are affected by this type of fraud, the travel industry has been hit particularly hard with , much higher than industries such as fashion and electronics that are seeing only a 1% increase.

Hotels: A Fraudster’s Dream Come True

The past few years have seen a number of high-profile data breaches affecting hotels, even large multinational chains. According to Verizon, the hotel industry had 338 data breaches in the last year, and 90% involved point of sale (POS) intrusions. This stolen card data is often used by fraudsters to commit CNP fraud, as the physical card itself is not needed for the transaction.

The model that travel companies use to work with hotels can make a difference in how consumers, and the companies themselves, are exposed to risk. In the agency model, the booking is made with the travel company and the consumer’s card details are passed through to the hotel. This model is most prevalent in Europe and Asia, according to research by FirstPartner, conducted on behalf of WEX.

In this scenario, if the hotel’s data is hacked or otherwise subjected to a data breach, the traveler’s card data is at risk of being used for CNP fraud. This, of course, affects the traveler but also harms the reputation of both the hotel and the travel company responsible for booking the travel. Although the agency model may provide some cash flow benefits to hotels, the fraud risk and consequential reputation damage may not be worth it.

A different model, the merchant model, is another option and is the most prevalent model used in US. In this model, the travel company accepts the traveler’s payment and does not pass this data along to the hotel. The hotel is later paid directly by the travel company without putting the traveler’s data at risk. And if the travel company uses virtual card numbers (VCNs) instead of a traditional corporate card to pay the hotel, their data is then also protected from CNP fraud should a data breach at the hotel occur.

VCNs offer an attractive alternative to traditional cards and have features to protect against CNP fraud, including:

• One-time use – VCNs are set up to be used only once, so even if the data is subject to a breach, the card cannot be used if the hotel has already processed the payment.
• Controls can be set to limit how the card is used – With VCNs, parameters can be set that control the types of purchases that can be made, the maximum purchase amount and when the purchases can be made. This prevents any charge other than that which is specified.

Protecting Travelers Against Payment Scams

The merchant model combined with payment by VCN protects travelers from more than just CNP fraud. It can also help protect against accommodation scams that target travelers booking hotels and other accommodation online. These scams work by fraudsters hacking into travel booking websites and fraudulently collecting payment on behalf of the hotels/accommodations or collecting payment for hotels/accommodations that don’t actually exist.

Such scams have hit British travelers particularly hard, with ��These scams happen across the globe. When travelers expect to pay the travel company, as in the merchant model, they’re less likely to fall victim to scams that ask for direct payment for hotels.

When travel companies use the merchant model and, in turn, use VCNs to make payment to hotels, both travelers and the travel company are protected. In addition to protection against CNP fraud, travel companies can also benefit from other features of using virtual payments, including earning money on payments made, savings on international payments, and automation of accounts payable tasks.

The post Virtual Card Numbers Can Help Fight Travel Fraud appeared first on ����Vlog..

Other findings Travolution shared include:

• 7 of 10 countries that have seen an increase in UK travelers are in Asia, including Singapore with a 232% increase
• Helped by a 178% growth in visits to Los Angeles, the US moved from 9^th to 5^th “most popular destination for British travelers”

The increase in travel from the UK seems to be a combination of factors, including the exchange rate, the increase in low-cost long-haul carriers and the continued importance UK residents place on travel.

Exchange Rate = More Attractive Destinations

Earlier this year, the in a piece about the Post Office’s 10th annual Worldwide Holiday Costs Barometer, “Every long-haul currency in our top 40, except for the Malaysian ringgit, has fallen against sterling since last February and, with savvy travelers watching exchange rates carefully, there is good reason to believe that more of them will consider holidaying further afield this year.”

Where does the exchange rate help UK travelers? Many countries’ currency has fallen against the pound this past year, including:

• Mexico’s peso (dropped by 16.7%)
• Costa Rica’s colon (16.6%)
• Lucia’s (Eastern Caribbean) dollar (12%)
• New Zealand’s dollar (10%)

Emma Coulthurst from the price comparison site TravelSupermarket told The Guardian earlier this year, “The reality is long-haul destinations can offer incredible value this summer.”

More Low-Cost Long-Haul Options

In ABTA’s Travel Trends report, the UK’s largest travel association predicts and that carriers such as Norwegian Airlines, WOW Air and Eurowings will increase the number of “flights on offer in 2018, allowing people to go further afield in fuel-efficient aircraft without the extra cost and make the most of more competitive currencies.”

According to the Centre for Aviation, as of March, there were operating widebody aircraft and 19 of those were launched in just the past six years.

BBC’s Chris Gibson reported on the impact of low-cost carriers earlier this year. He stated, “A new breed of low-cost carriers such as Norwegian, WOW, and Primera are such as British Airways and Air France-KLM in the skies above the Atlantic. In fact, Norwegian has just beaten British Airways’ record for the fastest transatlantic flight in a subsonic aircraft after one of its planes made the journey from JFK in New York to London Gatwick in just five hours and 13 minutes”.

Gibson notes the importance of the UK to Norwegian. “It flew 5.8 million passengers from the UK and Ireland and launched more than 15 routes in 2017.” He adds, “Norwegian recently secured an additional 28 weekly slots at Gatwick. It hopes to build on its existing routes to nine US cities, Singapore and now Buenos Aires.”

Traveling Is A Priority

The December 2017 ABTA report states that “despite wider economic issues, ,” noting that many are cutting back on eating out and entertainment to save for travel. The report also cites industry research that found a 5% increase in summer bookings over the same time the previous year, and a 6% increase (to 31%) in those who expect to spend more on travel in 2018.

The Travolution article echoes some of the ABTA findings; in particular, that 25% of UK travelers “have done at least one thing to save money in relation to holidays or breaks since the EU referendum.”�� The is also having an impact on long-haul travel since “13% [of] people aged 16-24 are making plans to visit Asia for the first time, whilst 15% plan an inaugural trip to the US.”

Travel Republic’s survey of 2,000 British adults was done more than a year ago, but it was post-Brexit, so the results are likely still relevant. They asked people about their New Year’s resolutions and found that the resolution for one-third of respondents was to travel more. “Almost as many people said they wanted to travel more as save more money – usually something that everyone puts at the top of their list,” and 45% said they want to “visit a place they’d never been before.”

These UK long-haul travel trends illustrate the payment processing challenges faced by today’s travel companies–. Our virtual payments solution allows travel companies to pay suppliers in over 150 currencies worldwide, avoiding exchange rate markups and cross-currency fees. In up to 21 of those currencies travel companies can be billed in the same currency as the supplier is paid, which avoids exposure to exchange rate fluctuation risk.

Simplify your supplier payments process with our global virtual payments solution. Our experts identify and customize the best currency strategies for your business, minimizing FX markups and cross-currency fees.

The post UK Travelers In For The Long Haul appeared first on ����Vlog..

Rebound In Domestic & International Travel

Domestic tourism has always been a mainstay in the Spanish travel market; the vast majority of holidays by Spaniards are enjoyed within their own country. According to TBP consulting, in 2016, out of 144 million trips taken, 131 million of them were domestic.

During Spain’s economic crisis, domestic travel declined significantly due to high unemployment rates and lower incomes. According to CEHAT, many travelers spent a mere three days on their Easter holidays during the height of the crisis, a much shorter stay than previous years for a major holiday.

That trend is seeing a clear shift. A from the Spanish Confederation of Hotels and Tourist Accommodation (CEHAT) was optimistic about the rebound in domestic travel for last year due to major increases in travel to areas typically frequented by domestic tourists, with some areas seeing a 40% increase over those in 2013, when visits hit their low point. Numbers provided by TBP consulting confirm these findings, showing a 5% increase in domestic tourism in 2016 over the previous year.

International travel is also increasing. TBP reported a 3% increase in foreign trips from Spain in 2016. While other European destinations remain the most popular, there has been a, with a 15% increase in Spanish tourists in 2016. New low-cost airlines are also making Latin America a more attractive destination, while accounting for 6% of Spanish trips.

How The Spanish Travel

A report by The Blueroom Project (TBP Consulting), sheds insight on why and how Spanish tourists travel. Some highlights include:

• Leisure is the main reason the Spanish cite for travel (49%), while visits to relatives and friends is second (37%),�� and business travel accounts for 8.6%
• Hotels are the preferred housing option, followed by vacation rentals, and staying with family and friends
• Car travel is the most prevalent, followed by plane, train, and boat
• The budget for holidays abroad rose over 17.% in 2016!

The report shows that preferred destinations differ by generation. Travelers over age 45 preferred domestic destinations both inland and beaches; those aged 25-44 strongly preferred Spanish beaches; while the youngest cohort, those under 25, preferred beaches in Portugal and Italy, other European destinations such as the UK (where many go to practice their English), as well as places further afield such as Asia.

The Spanish Travel Market

A different report, the Phocuswright “” also sheds light on the Spanish travel market. The report shows a positive outlook for the overall market, with the resurgence of domestic travel and continued international interest contributing to growth. Modest growth was expected in all travel sectors last year with traditional airlines projecting 1% growth, low-cost carriers projecting 3% growth, the rail segment expecting 3% growth, and car rental companies with 3% growth projected.

The hotel market is the largest segment in the Spanish travel industry and is currently growing the fastest, with 9% growth forecast for 2017. However, market saturation, political concerns, and competition from companies such as Airbnb and HomeAway are likely to slow growth in the coming years.

Online bookings are on the rise, with 8% growth expected to a total of 11.3 billion Euros, though as of 2017, the online penetration was still only 43%. The penetration rate is expected to approach the halfway point by 2021. Mobile bookings are also increasing, with 22% of online bookings made by mobile last year. That rate is expected to rise to 31% by 2021 – fairly low considering Spain’s smartphone adoption is among the highest across markets.

The outlook for the Spanish travel market is positive for the foreseeable future, but there are challenges as well. Though much improved from previous years, unemployment is still relatively high, especially among the younger generation. The separatist movement in Catalonia is also creating feelings of unrest that affect where and how people travel. Despite these challenges, Spain’s climate, culture, and accommodations continue to make it an extremely attractive destination for international visitors and domestic tourists alike, especially if economic stability and growth continue.

The post Spanish Economic Recovery Spurs Return To Travel appeared first on ����Vlog..

The stable government and anticipated economic gains were expected to deliver a 2% growth in gross travel bookings in 2017 for a total of €43.6 billion, according to the Phocuswright report. Growth is expected to continue in 2018 to 3%, and the market is expected to reach €48.5 billion Euros by 2021. Online bookings are projected to grow 7% in 2017, but still lag 8% behind the European average, with 43% penetration. Mobile bookings are also on the rise and were projected to reach 18% in 2017, representing 21% of online revenue.

The French market has higher supplier-direct bookings than other European countries, despite a fragmented market. This is due to most segments having a large player that can successfully compete with OTAs. By 2021, it’s projected that nearly 75% of online bookings will be directly with a travel supplier, according to Phocuswright. However, OTAs also continue to grow. The report projects OTA bookings to grow 4% in 2017 to €5.3 billion Euros, with pan-European Booking.com the market leader.

French travelers set themselves apart from their European counterparts in other ways as well, as shown in the Phocuswright report. The private-sale market, for example, is still seeing heavy growth in France with companies Voyage Privé and Vente-Privee growing at impressive rates. French travelers also still use travel agents heavily, with the majority of packages booked through high street travel agents or tour operator call centers.

Recent developments with major travel players in the last year are likely to have an impact on the market, including:

• The city of for failing to enforce the requirement for tax ID numbers on all city rentals. If the city wins, Airbnb will be forced to pay €1,000 per listing a day for listings that are not in compliance. This affects tens of thousands of listings, and has the potential to significantly impact the sharing economy in Paris and boost hotel stays. The trial date is set for June 12.
• Paris is preparing for a hotel boom, as fifty new hotels are expected before the Olympics in 2024. Nine new hotels are planned in eastern Paris for a total of 1,442 rooms; 5 hotels and 800 rooms will be added in the Porte de Versailles district; and central Paris will add 700 rooms.��
• AccorHotels the French-owned hotel operator, continues to acquire a number of companies in the travel industry. They’ve recently bought Australian hotel group Mantra, that operates in Australia, New Zealand, Bali, and Hawaii; they’ve also acquired partial ownership of Orient Express, which will include a new hotel collection; they acquired Gekko, a business hotel booking tool; and just acquired ResDiary, a leading platform of restaurant reservations.
• On the airline front, AirFrance-KLM is diversifying its offerings with its new spinoff, Joon, which they’re marketing as its “innovation airline” that will feature its own identity and innovative tools. While flights will be more affordable and attractive to sought-after millennials, AirFrance insists it is not a “low-cost airline” and the quality will be equally attractive to current Air France customers.
• The sharing economy has caused the most disruption in the car rental segment, with companies such as Zipcar, BlaBlaCar and Autolib providing useful alternatives not just for travelers but for car-less city dwellers who occasionally need a ride.

Overall, the French travel market is looking positive and poised for modest growth in the coming years, given continued consumer confidence, a stable government, and being able to limit the impact of terrorist activity in the country.

The post French Travel Market Set For A Rebound appeared first on ����Vlog..

FACT: Half of all European bookings are already online, but there’s still huge opportunity to win customers on mobile. According to 2017 saw a 22% growth in mobile bookings and double digit growth is projected to continue through 2021. Now is the time to win mobile customers over for life.

TIP: Travel companies who invest in making sure their mobile offering is user friendly and offers a frictionless experience, from search to purchase, will have the best chance of winning a share of the predicted mobile growth.

Our consolidates relevant and timely data from over a dozen sources to make it easy for you to understand the big picture in the online and mobile travel space. From integration of AI, to the development of one-stop travel platforms, you’ll learn how to create an online and mobile experience that attracts customers to your business.

FACT: Traveler preferences change from year-to-year based on factors such as political stability, terrorism incidents and costs associated with travel to a destination or region. As an example, following political and terrorist incidents.

TIP: Your destination inventory needs to be flexible, and so do your payment processes. Using virtual payments can make it easy to offer new destinations quickly and build positive supplier relationships in the most desirable locations.

Learn about the most recent traveler and destination trends for major European travel markets in our�� whitepaper. Packed with up-to-date stats, you can get all the most recent data in one place.

FACT: Online penetration in the European tour operator sector is relatively low (Phocuswright reports 30% penetration for 2017).

TIP: Low online penetration makes this an area of opportunity for travel companies who are able to successfully aggregate inventory from suppliers while observing local market circumstances.

Digital transformation of supplier payment processes enables travel companies to take advantage of growth opportunities in segments, such as tour operators and hotels, with quick and easy integration into distribution systems, as well as reliable payments to keep suppliers happy.

The post Winning Customers Online Through Digital Transformation appeared first on ����Vlog..