The performance of an economy can be measured by a wide variety of indicators. Have you ever thought of doing this by the number of business trips companies make?
We, openMIND, provide our customers with a travel expense report via SaaS (Software as a Service). This allows us to measure very precisely how many active travellers our customers have. And with the CORONA pandemic, we had a glaring blow for the first time in many years, which made the connection between economic development and the volume of business travel abundantly clear.
Even during the financial crisis at the end of the first decade, business travel declined temporarily. But that was almost unmeasurable with the effects in the current pandemic.
The good news (at least here in Germany) is that the economy seems to be on the path of recovery. At least that's what the figures for the number of business travellers indicate. But let's take a closer look.
Among our clients, about half have already returned to about 90% of the number of business travellers compared to 2019, and the other half are currently at about 50%. If you compare that to the numbers in the second quarter of 2020, it's an amazing recovery, because back then the numbers were consistently at 10 - max 30% compared to 2019.
If you look at the forecasts from various sources, growth of 2-4% is expected (see Link_Tagesschau www.tagesschau.de/wirtschaft/konjunkturprognose114.html )
And we can also confirm this trend personally. Although we as a service provider for digital travel expense accounting were/are directly affected by the partly massive restrictions. We assume that in 2021 we will be able to continue from where we left off in 2019, a very good year in terms of both turnover and profit.
We owe this not least to the trust of our customers, who have consistently followed the path of digitising processes and documents together with us even in difficult times.
We would be very pleased if you followed our blog here on the homepage, on our LinkedIn or Facebook account. In the coming weeks and months, we will continue to include general as well as specialist topics. In addition to reports on our business and our social commitment, there will mainly be contributions on specific questions about travel management.