Adapting To Endemic Covid-19: The Outlook For Business Travel NOVEMBER 2021 CONTENTS 1 FOREWORD 2 EXECUTIVE SUMMARY 4 BUSINESS TRAVEL IN CONTEXT ENDEMIC COVID-19 6 11 RESHAPING TRAVEL & TOURISM BUSINESS TRAVEL HAS BEEN DISPROPORTIONATELY AFFECTED OPPORTUNITIES FOR DIVERSIFICATION LOOKING AHEAD 14 19 21 23 ACKNOWLEDGEMENTS WTTC ADAPTING TO ENDEMIC COVID-19: THE OUTLOOK FOR BUSINESS TRAVEL FOREWORD COVID-19 has had a major e?ect on Travel & Tourism. But the sector and its people are resilient and have made great strides in adapting to the circumstances. Given that the global context has changed so dramatically over the past 18 months, the World Travel & Tourism analysed the current Travel & Tourism context and o?er a perspective on a potential path forward, speci?cally for business travel. This report draws on joint research carried out between WTTC and McKinsey & Company. The report not only builds on research and data analysis, but draws on insights from key Travel & Tourism leaders. Interviews with 19 CEOs and key stakeholders were conducted to gain their perspectives on shifting trends, the challenges they have faced, and the outlook and opportunities 1 for the future. The hope is that stakeholders ?nd the analysis and perspectives helpful in formulating their approaches to the challenges and opportunities that lie ahead. The report examines issues a?ecting the sector and the implications for business travel. One important factor which will alter how the Travel & Tourism sector plans for recovery is the likelihoo