Business travel managers were nearly unanimous in declaring 2024 a “more challenging” year, facing demands including budget reductions, expanding responsibilities and a more demanding traveler population, according to an SAP Concur-sponsored survey of 600 travel managers across six global markets.

In terms of budget, 42 percent of respondents said their job will be more difficult over the next 12 months due to company directives to cut travel costs. Within the Asia/Pacific region, that percentage was 48 percent, according to the survey, which was conducted by Wakefield Research April 5-26. Some of those cuts are coming at the expense of sustainability initiatives, with 36 percent of travel managers indicating it would be difficult to meet expectations for more sustainable travel options with inadequate budgets. 

About a third of travel manager respondents said they have been asked to take a more strategic role at their company but have not received any additional training or education to do so, the survey indicated. That was more common for travel managers in the Americas and the Asia/Pacific region compared with Europe.

The most frequently cited challenges for the year were increased safety concerns and employees not using company booking tools, each cited by 38 percent of respondents. A companion survey of 3,750 business travelers across 24 markets showed 64 percent prefer making changes directly through suppliers rather than through company tools.

Business travelers surveyed were largely positive about business travel itself, with 76 percent saying they enjoy it and 67 percent considering it essential for career advancement. However, about a two-thirds said they have not had equal opportunities to take business trips compared with their colleagues—an increase of 4 percentage points for the same question in Concur’s 2023 survey—based on a variety of factors including seniority, age, gender, accent and whether they work from the company’s office.

Many travel managers, meanwhile, are seeking greener pastures, with 41 percent saying they likely would look for a new position in the next 12 months.

“Even among those looking to remain in their current role, 41 percent intend to push for changes to that position,” Concur said in the report, “demonstrating that staying put won’t necessarily equate to staying silent.”

There are places in the world where gambling and luxury come together to create a unique atmosphere. One such place is Macau, a former Portuguese colony and now a special administrative region of China. Known as the “Las Vegas of the East,” Macau was for years a magnet for gambling enthusiasts from around the world. But the COVID-19 pandemic dealt a devastating blow to this gambling paradise.

Now that the severe restrictions are behind us, Macau is experiencing a real renaissance, as its land-based casinos are no less popular than 1win, Mostbet, and other top online operators. Tourists pining for the glitz of casinos and the adrenaline of gaming have flocked to the city, breathing new life into its famous gambling houses. This revival is not just a statistic – it is a story about the resilience of the human spirit and the unquenchable love of risk and adventure.

Today, most gambling enthusiasts are increasingly playing over the internet. Simple mostbet registration allows you to access many thousands of gambling games directly from your phone or computer. But as you can see from the growth of tourism in Macau, the number of people who want to visit land-based casinos is still high.

Record revenues: when betting pays off
March 2023 was a turning point for Macau’s gambling industry. Gross gambling revenue reached an impressive 12.7 billion patacas, equivalent to US$1.6 billion. These are not just numbers – they are evidence of a tremendous comeback. Compared to March of the previous year, the growth was a staggering 247%, surpassing even the most optimistic forecasts of analysts.

To understand the scale: this level of returns hasn’t been seen since January 2020, before the pandemic changed the world. While the numbers are still 51% below the golden year of 2019, the trend is clearly positive. A month-on-month increase of 23% compared to February 2023 indicates a steady increase in interest in gambling in Macau. Well, by 2025, the economy should grow by another 14% to reach pre-pandemic levels.

Tourist boom: from budget groups to VIP players
The revival of Macau’s gambling industry is inextricably linked to a surge in tourism. By mid-March, daily visitor traffic was around 65,000 – a 55% increase on 2019 levels. February 2023 saw 1.6 million tourist visits, averaging 57,000 per day.

It is interesting to note the change in the composition of tourists:

• An increase in budget tourist groups from mainland China
• a temporary decrease in the number of VIP players due to increased scrutiny
• A focus on developing non-gaming activities to attract mass tourists

Although budget tourists spend less than the high rollers of past years, their numbers make up the difference. Also, diversification of tourist flow reduces dependence on one group of customers, which makes the industry more sustainable.

The number of foreign workers is also increasing. Already their number has risen to 90% of its pre-pandemic level.

Challenges and prospects: playing by new rules
Macau’s recovery is not just a return to the old. The Chinese government has tightened controls on frequent casino visitors. Some gambling enthusiasts who have been to Macau more than three times a year have to apply for visas in person instead of through an electronic procedure. This is certainly a deterrent for high-rollers.

Also, the tightening of rules for junkets – agencies that provided loans to big players – has effectively dismantled the VIP sector, which before the pandemic provided half of the gambling revenue. But this is not the end, but the beginning of a new era. Macau is adapting by betting on:

• developing non-gaming entertainment: shows, exhibitions, gastronomy
• attracting tourists from abroad, not only from China
• targeting mass tourists with diverse interests

Macau’s revival is not just a recovery from the crisis, it is a transformation. The city, once dependent on the whims of VIP clientele, is now appealing to a wider audience. The development of cultural attractions, gastronomic delights, and luxury hotels makes Macau attractive not only to gamblers but also to those looking for a comprehensive luxury experience.