Explore Recent Advances, Trends and Types of Business Travel

Embarking on a journey for business purposes isn't a one-size-fits-all affair. Business travel, in its many diverse forms, caters to a spectrum of needs and objectives. Let's look at the six main types, each offering a unique set of benefits. Then, we'll explore some of the recent trends in business travel to provide you with a wide variety of options for structuring travel plans for your company. They may provide more efficiency and cut costs, make it more enjoyable for those travelling, and more value to your company. We'll also tell you about the ideal business accommodation in the heart of Bangkok's CBD.

Importance of Business Travel: Where You Stay Matters

Choosing the right place to stay is crucial for a successful business trip. Seasoned travellers are moving away from conventional hotel rooms and seeking places that feel more like home. This includes serviced apartments and spacious studios that allow a guest to cook and offer a sense of familiarity and comfort. Modern hotels in Bangkok’s CBD are offering residences with facilities that provide much more than just four walls and a bed. 

The Six Types of Business Travel

Knowing the six main types of business is crucial for deciding what is needed for your company when you’re faced with budget limitations. Many companies take a two-birds-with-one-stone approach and schedule business trips to achieve more than one goal. Staying on top of the options allows you to be flexible and get the most out of your company's travel schedules while cutting costs. 

Events and Conferences: The Importance of Networking

Events and conferences are the cornerstone of professional networking. Attending trade fairs, exhibitions, and industry conferences allows individuals to connect, share insights, and stay abreast of industry trends. Think bustling convention centres and engaging panel discussions—the perfect atmosphere for spreading your corporate image and message to increase business growth.

Meetings and Visiting Branch Offices: Strengthening Bonds

When it comes to internal matters, face-to-face interaction is invaluable. Business trips for internal meetings and branch office visits foster stronger team dynamics, enhance communication, and provide a firsthand understanding of the various facets of the company.

Company Retreats: Balancing Work and Play

Company retreats offer a blend of productivity and relaxation. These trips provide an opportunity for team building, strategic planning, and fostering a positive work culture—picture brainstorming sessions by the beach or collaborative workshops in a tranquil retreat setting.

Client Meetings: Building Relationships

Meeting clients in person can solidify relationships and establish trust. Travel for client meetings allows for a deeper understanding of client needs and expectations, paving the way for long-term partnerships. The personal touch impresses clients and sets the stage for successful collaborations.

Transient Travel: Quick and Essential

Sometimes, business demands a swift response. Transient travel involves short, urgent trips to address immediate needs. It could be troubleshooting, handling emergencies, or sealing deals on the fly.

Bleisure Travel: Combining Business and Pleasure

The rising star in business travel, “bleisure” combines work and leisure. After a productive business stint, why not extend the stay for some personal time and to see the sites? This trend encourages employees to explore new destinations while on business assignments.

Current Trends in Business Travel: Riding the Wave

Business travel is evolving, and staying ahead of the curve is essential. The recent pandemic and the subsequent worldwide economic slowdown have underlined the need for refinement and cost-cutting wherever necessary, yet the need to continue business travel. Several new trends have emerged to meet the needs of business travel while the economy gets back up to speed. These current trends include:

Group Travel

Lower costs and the opportunity for team brainstorming sessions make group travel an attractive option. It makes business and financial sense to gather all the people involved in a critical project in the same place and allows employees to put names to faces and solve problems as a group. 

AI in Travel Booking

Travel platforms are using AI to analyse customer preferences and provide personalised recommendations for popular services. It also allows them to target and upsell opportunities that make business travel more rewarding and cost-effective for companies and more pleasurable for individuals.

Points and Rewards Reinvestment

Companies have discovered the financial benefits of leveraging travel points and rewards to reinvest in their business. Many companies are adjusting their travel schedules to take advantage of these points and rewards, demonstrating a keen awareness of the value of loyalty programmes.

Flexible Payment Solutions

Financial institutions are offering application programming interfaces (APIs) with third-party travel providers, enhancing integration and flexibility in travel arrangements and payments. These APIs can be a major source of cost-saving and centralised record-keeping for all company travel.  

Embracing Digital Nomads

Companies are exploring flexible contracts and accommodating digital nomads as a way to combine employment and travel within an organisation. This standardises a digital nomad-style lifestyle and enriches the value of business travel for both the employee and the organisation.

Modena by Fraser Bangkok: Your Business Haven

Amidst the dynamic landscape of business travel, Modena by Fraser Bangkok stands out as the ideal accommodation for seasoned travellers.

We offer spacious meeting rooms equipped with modern AV equipment and complimentary Wi-Fi. Our four types of guest rooms offer a variety of layouts and spacious living areas for holding impromptu get-togethers, meetings or brainstorming sessions. We’re also located close to the Queen Sirikit MRT rapid rail transit system of Bangkok, which makes getting around the city fast and simple.

Business travellers with an eye on their budgets will also appreciate our Fraser World Programme, where by joining you can save up to 25% off your stay.

With serviced apartments that offer a home-like atmosphere and the flexibility to cook for yourself in the heart of the central business district of the city, Modena by Fraser Bangkok ensures a comfortable and productive stay. Book a stay at Modena by Fraser Bangkok for your next business trip to Bangkok.