(AP) — Business travel might never look the same in the wake of the coronavirus.
Consulting firm McKinsey and Co. says it took international business travel five years to recover after the 2008 recession. But this time, the ease of videoconferencing could put a permanent dent in corporate trips.
Many companies, like Dubai-based television station operator MBC Group, say they've been able to do business just as well online, so they're unlikely to travel as much when the pandemic ends. That’s chilling news for hotels, airlines and others that rely on business travelers.
Corporate travel represents 21% of all travel spending globally, according to the World Travel and Tourism Council.