Direct US business travel was a little under $300B in 2018 and 2019. It fell by more than 50% to under $150B or so in 2020. It is not going to recover to pre-2019 levels until 2023-2024. And this is just in the US. Saw this in the Wall Street Journal today.
Travel is a key component of any business company’s SG&A. Companies like Google and others used to use products like Tandberg which were very expensive to manage travel costs or even convenience. I believe, that even in the post Covid19 era, CFOs and business leaders will be ecstatic at continuing to invest in Zoom.
Has anyone indexed Zoom (ZM) spend to corporate travel spend? Has management spoken about it? Thoughts?