The way people travel and conduct business is expected to change due to the COVID-19 pandemic, even after the pandemic is over, according to Microsoft founder, Bill Gates.
“I predict that 50% of business travel and 30% of working hours will decrease after the pandemic ends,” Gates said during The New York Times Dealbook Conference, as reported by CNBC.
This may well happen considering the current pandemic situation, where working from home is no longer an impossibility. It could even be more extreme with some companies reducing in-person meetings and prioritizing video conferencing.
Gates’ own schedule has become leaner since the pandemic spread. Now, he no longer needs to travel frequently for business matters but only conducts virtual meetings. Just this year, Gates has had 5 virtual meetings with several pharmaceutical company executives, whom he usually meets in person in New York.
“Of course, we still have offices and travel for business purposes, but the proportion is less than before,” Gates said.
Until now, the air transportation industry has experienced an extraordinary decline, especially regarding business travel, which usually provides significant profits in this industry. According to data before the pandemic, half of the revenue of US airlines came from business travelers. Currently, airlines can only expect to receive 30% of all flights throughout 2020.
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