ifo Institute: German Companies Plan to Scale Back Business Travel Even After the Coronavirus Crisis
As a result of the coronavirus crisis, 57 percent of German companies say they are likely to permanently scale back their business trips. This is according to the ifo Business Survey. Manufacturing is most affected at 64 percent, followed by the service sector at 60 percent. “Some sectors will feel the consequences of the coronavirus crisis for a long time to come, including airlines, rail, hotels, and restaurants,” says ifo researcher Stefan Sauer.
Others are less affected, such as trade at 39 percent and construction at 29 percent.
In the manufacturing sector, least likely to travel in the future are pharmaceutical companies at 80 percent, computer manufacturers at 77 percent, glass and ceramic producers at 72 percent, and chemical companies and drinks manufacturers, both at 71 percent.
They are joined most notably by IT service providers and management consultants, both at 80 percent, research and development firms at 74 percent, and advertising and market research companies at 72 percent.
In trade, wholesalers are most affected, with 46 percent of companies reporting that they plan to schedule fewer business trips. Among retailers, that figure is 31 percent.
