Employees 'renewing meaningful business and personal connections': expert
Hybrid and remote work arrangements are motivating more travel in a new phenomenon dubbed as "FOMO" or "YOLO" travel — following years of muted trips due to the pandemic, according to a new report.
Findings from the 2024 Spring Global Rescue Travellers Sentiment and Safety Survey revealed that 59% of employees are more encouraged to travel because of their remote or hybrid work arrangement.
Dan Richards, CEO of The Global Rescue Companies, called the ongoing trend "FOMO Travel or YOLO Travel,” in reference to the phrases “fear of missing out” and “you only live once.”
"Individuals productively working remotely, part- or full-time, are renewing meaningful business and personal connections here and abroad. It's fostering soul-enriching journeys," Richards said in a statement.
Previous research has highlighted the trend as the rise of combined leisure and business travel, or bleisure travel, following the popularity of flexible work arrangements.
"Vacations used to be all about a complete escape from work, but now you can check emails from a hammock in the Maldives, take a break from a video conference to surf the incoming tide in Rincon, or finish the workday in Sweden and have plenty of time to view the Northern Lights," Richards said.
Business travel to exceed pre-pandemic levels
As a result of this trend, remote and hybrid work have become a "boon" for the travel industry, according to Richards.
The report found that 21% of employees who travel for work are already predicting business travel to exceed pre-pandemic levels, double than the 11% recorded in January.
It comes despite recent reports from last year predicting that business travel will "never return to normal."
There are also employees who are concerned about the environmental impact of business trips, with many opting for combined trips and alternatives for air travel when travelling.
