It’s good news for Gen Z wannabe jetsetters as companies reveal they are spending an average of £2,282 on business travel each year, per employee – according to new research from TravelPerk, the global business travel management platform.
The Value of Business Travel Report highlights that nearly half (49%) of those holding the purse strings plan on increasing their company’s travel budgets throughout the year and into 2025, which is good news for those Gen Zs who are looking for a job that will help them explore new destinations while getting paid for it.
The industry that is increasing their business travel budgets the most this year is Travel & Tourism (60%), meaning this could be the best choice of employer for wannabe globetrotting Gen Z-ers.
However, there are a variety of industries that could help the younger generation fulfil their desire for wanderlust. In second place of industries that are adding to the travel spending pot is the Tech industry (57%), followed by Environment & Agriculture (54%), Manufacturing, Infrastructure & Transportation (51%) and Finance (50%).
The top 10 industries to work for if you want a chance to travel:
1. Travel & Tourism (60%)
2. Tech (57%)
3. Environment & Agriculture (54%)
4. Manufacturing, Infrastructure & Transportation (51%)
5. Finance (50%)
6. Creative & Design (50%)
7. Marketing & Advertising (49%)
8. Logistics (48%)
9. Hospitality & Events (47%)
10. Education (45%)
The report, which surveyed 4,600 business travellers, shows 79% of Gen Z-ers welcome the chance to travel for work as it gives them the opportunity to explore new places alongside a variety of personal and professional benefits.
For those Gen Z respondents who have been lucky enough to travel with work, over one third (37%) say they have extended their trip to make the most of it, including to save on personal travel (39%) and to relax before returning to the office (26%). Nearly one in five (19%) also state extending business trips allows them to reduce their personal travel CO2 emissions.
Over three quarters (77%) of Gen Z proclaim travelling for work allows them to meet new people, and 44% believe it makes them feel happier or more fulfilled. A further 15% say it enables them to blend work trips with new activities, for example, surfing or skiing.
Gen Zs also highlight the professional benefits of travelling for work, with over two-thirds (67%) of respondents stating an increase in their professional knowledge and experience, and 58% agreeing it helps them increase in-person interactions with senior staff. Additionally, there is a return on investment for the businesses too, as over three quarters (76%) of Gen Z employees would be more likely to stay in a role that includes opportunities to travel for work.
Felicia Williams, VP of People at TravelPerk comments: “With a new generation entering the workforce, we’re seeing their thoughts on blended travel and its perceived benefits shape what they view as meaningful value in the workplace. Reducing carbon emissions and saving money on personal travel is high on the list of importance, and Gen Z is resourceful in how business trips can help them get the most from both.”
“As companies across industries seem set on expanding their travel budgets, they can consider more ways of recognising their return on investment, as our research shows this can lead to increased talent attraction and healthier employee retention rates.”
