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Virtual meeting cannibalization impacts recovery: report

Morgan Stanley Research reports global corporate travel managers expect a 27% shift to virtual meetings in 2022, reducing to 19% in 2023, supporting its view of a continued slow path to recovery for corporate travel and suggesting some lingering COVID impact, especially considering recent spikes in Delta variant cases. The top three reasons cited for replacing corporate travel volume with virtual meetings were 1) more efficient use of employees’ time, 2) cost reduction, and 3) virus concerns. When asked for reasons compelling their firms to replace corporate travel with virtual meetings, 74% of respondents said more efficient use of employees’ time,…
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