Late last year, International SOS, the world’s
leading medical and travel security services company, released their Travel Risk Outlook for 2020. Below, I
unpack each risk and offer recommendations for travel managers to mitigate
against them.
1.
Risks
borne from geopolitical shifts
The US
Presidential election in 2020 will undoubtably influence the geopolitical trade
industry with many nations. In Europe, political and social unrest runs a high
risk as the Brexit outcome solidifies. Businesses must plan to ensure
travellers are educated on changes to their free movement between nations, and
gain access to the relevant travel documents ahead of time.
2.
Mental
health issues
Traveller
wellbeing will be prioritised in 2020, with mental health listed as a higher
risk to traveller safety than physical health for the first time since the
release of this report. Helpful advice on reducing the stress of business travel can be found on CTM’s website to help improve mental health while on the
road.
3.
Physical
health
While mental health is gaining importance, physical health is still a
key consideration when ensuring traveller wellbeing. Travel managers can help
support physical health through hotel
selection, focusing on brands and properties that offer fitness centres or
healthy menus. Read more about Incorporating wellbeing into your travel policy.
4.
Cybercrime
The cost of
cyber-crime globally is expected to exceed $2 trillion this year, while data breaches
can cost the average company around $US3.8 million1. In 2020, it is increasingly important for
business travellers to take precautionary measures to ensure no personal or
company data is vulnerable to hackers. You can find tips for ensuring data security when
travelling for business
here.
5.
Climate
change
The impact of
Climate Change is an increasingly important concern for travel managers when
ensuring duty of care. This is where travel technology such as tracking functionality can help, by identifying travellers in areas
of risk and communicating with them instantly.
6.
Infectious
disease outbreaks
Another impact of
climate change, along with increasing urbanisation, diminishing vaccination
coverage and security instability, is risk of infectious diseases. While
predominantly an issue for those travelling to developing nations, businesses
should be aware of vaccination requirements and hygiene standards across their
supplier list.
7.
'Bleisure' travel
Listed as a ‘grey
zone’ of travel risk, blesiure travel and its implications for duty of care is highly
relevant for European-bound travellers. Travel managers will need to ensure
clear outlines on insurance parameters are included in employee contracts and
advise when additional coverage may be required at the employees’ expense.
8.
Millennials
and Generation Z
Bringing a new set
of values and expectations to the industry, Millennial and Gen Z travellers
will push businesses to evolve their risk strategies. New policies will have to
account for changing travel behaviours, including experiential components and a
focus on longer stays at smaller costs.
9.
High
profile Duty of Care legal cases
Expected to
increase in 2020, businesses must ensure their travel policies are updated
regularly to ensure duty of care obligations are met. This includes investing
in travel technology that can help mitigate risk, educating employees about
risks and communicating with employees during a crisis to name a few.
10. Start-ups and SMEs
Often
under-resourced and inexperienced SME businesses can struggle to meet duty of
care obligations without proper guidance from a TMC. Virtual Account Management
solutions can help small businesses access all the
benefits of a customised travel programme, delivered and supported via phone
and online support.
This post was
written by Richard Ware, Senior Business
Development Manager, CTM Europe. He will be attending the Business Travel
Show, which takes place on 26-27 February 2020 at Olympia London.
You can register for a free visitor pass at www.businesstravelshow.com and book
a meeting with Richard and CTM at https://info.travelctm.co.uk/business-travel-show-2020-book-a-meeting-with-ctm
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