Globalization has brought incredible advantages to businesses over the past 20 to 30 years and benefited emerging markets that have seen production growth skyrocket in their countries. But geopolitical concerns, changing consumer and corporate values—such as the focus on sustainability—rising costs, and supply-chain issues are forcing a rethink. Business travel patterns may shift as a result. 

This reset could prove to be one of the most wide-ranging and impactful developments for business travel, not only for 2022 but for years to come.   

Turning away from globalization will have implications on global trade, financial flows (such as reduced investment in export-dependent countries), migration, and digital connectivity, plus there will likely be a re-positioning of economic benefits away from emerging markets.

We know that a single change to any of the above can impact business travel volumes and patterns, as well as the ease of travel between countries. Crossing international borders may never be as simple as it used to be.  

Travelers will find international travel more complex and will need extra support from their companies to navigate this new complexity. For example, some countries now mandate vaccination for certain occupations, office visits or even for attending events at certain venues. Being fully vaccinated could become a condition of international travel or a requirement at the destination--and travelers will need to be educated about these constantly changing regulations.   

Actions to Take

Now is a good time for travel managers and procurement professionals to reevaluate their programs and consider how larger forces at play in the world could influence their strategy. Whether the globalization reset is something that affects a company today or in the future, here are three actions travel managers and procurement professionals can take to proactively address this trend: 

Continuously monitor and action travel data. Now is the time to examine travel spend and revisit supplier agreements. Implementing technologies to help monitor data and provide insights to prompt swift action in managing corporate travel programs will become even more critical as the globalization reset takes shape.

Ensure adequate support for international travel.Vaccination requirements, digital health passes, and geopolitical developments—such as the U.K.’s exit from the European Union—will require careful monitoring and frequent updating from travel supplier partners. Access to proactive messaging and communication capabilities will play a critical role for traveler safety. The right guidance will help travelers book their trips within policy and through approved channels, so companies can track travelers and monitor their safety at all times. Program compliance is key to the newly expanded duty of care, which goes beyond business travelers to include all employees, no matter where they are.     

Evaluate and adjust supplier agreements as needed. With an increased emphasis on sustainability, local brands may thrive as part of the reset as consumers are encouraged to buy local. Partner with travel suppliers that are committed to reduce their environmental impact by composing RFP documents that require sustainability commitments and details about the progress being made towards their sustainability goals. Also ask about the makeup of global and local operations of supplier partners.

Much remains to be seen about how the globalization reset will affect corporations, nations, individuals and the business travel community. As the reset begins to unfold in 2022, travel managers and procurement professionals can have the best of both worlds by working with travel suppliers that have global networks supported by local operations to deliver market-level expertise.