KLSE (MYR): CAPITALA (5099)
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Last Price
0.83
Today's Change
0.00 (0.00%)
Day's Change
0.825 - 0.835
Trading Volume
2,668,000
2024-08-01
2024-08-01
2024-07-30
2024-07-29
2024-07-29
newbie1111
1,842 posts
Posted by newbie1111 > 2021-04-30 11:57 | Report Abuse
Before the pandemic, business travel had grown annually for a decade. Now, the industry is bracing itself for a lasting decline of between 10 and 25 per cent, mainly because executives are expected to travel less in the future. People have become used to video conferencing. They have also discovered they don’t need to be physically present for every meeting and they have grown to appreciate that time spent on travel can be better used elsewhere.
And, at a corporate level, the bean counters are happy with the often substantial savings being made on travel budgets. That alone is likely to change the definition of what constitutes an “essential” business trip forever. Add in the commitment by more and more organisations to a net-zero-emissions policy and the business travel market looks set for a bumpy recovery.
Spending by “road warriors” accounts for about a fifth of revenues within the overall global travel and hospitality sectors but it is lucrative business. Consulting firm McKinsey estimates that up to 75 per cent of profits for some major carriers and large city hotels are dependent on corporate users