SEATTLE–Many in credit unions, and especially in credit union trade groups, have been discussing when business travel and conferences will return to the pre-COVID “normal.” If Bill Gates is correct, the answer may be “never,” but if one Microsoft executive is correct, the answer is “eventually.”
The Microsoft co-founder said he believes the change in the way people travel and conduct business caused by the coronavirus pandemic is going to be long-lasting.
"My prediction would be that over 50% of business travel and over 30% of days in the office will go away," Gates said during the New York Times' Dealbook conference.
Looking forward, Gates predicted there will be a "very high threshold" for conducting business trips now that working from home is more feasible. However, some companies may be more extreme with their efforts to reduce in-person meetings than others, he said.
"We will go to the office somewhat, we'll do some business travel, but dramatically less," Gates said.
One Person Sees Rebound
The New York Times reported the pandemic has “devastated air travel demand, particularly for lucrative business trips.” Business travelers before the virus accounted for half of U.S. airlines' revenue, but just 30% of the trips, according to Airlines for America, an industry group that represents most U.S. carriers, the Times said.
But at least one Microsoft executive has predicted there will be a business travel rebound.
"We believe that as we return to the skies, the travel routes we've had ... will resume at the level they had been before," Judson Althoff, executive vice president of Microsoft's worldwide commercial business, said in October.