Bleisure or Workcation travel is a new term for business travel mixed with leisure travel.
It typically involves business travelers extending their trip to include leisure activities. Other bleisure travel terms include “bizcation,” “workcation” or “blended travel.”
According to Navan, the global bleisure market is expected to grow from $315.3 billion in 2022 to $731.4 billion by 2032, a compound annual growth rate (CAGR) of 8.9%. This is due to several factors, including the demand for work-life balance, Digital transformation in the travel industry, and Increased number of affordable hospitality services.
Why is bleisure travel gaining popularity?
There are significant benefits of combining leisure with corporate travel. The first one is the ability to visit a destination at a reduced cost. When an employee attends a conference, they can save on airfare, hotel rooms, car rentals, and food as their company covers these expenses while they are on business. Additionally, if the employee decides to extend their trip by adding some vacation days, they may qualify for discounts on hotel accommodations and car rentals due to being a business traveler.
Industry Experts Poined to these Prominent reasons for the dramatic growth of Bleisure:
1. A rise in demand for work-life balance
2. Digital transformation in the travel industry
3. An increase in the number of affordable hospitality services
Bleisure Travel Market Size & Trends
The survey by the American Hotel & Lodging Association and Accenture found that nearly nine out of 10 (89%) travelers want to add some leisure time to their business trips.
Another survey by Banyan found that more than three-quarters (76%) of business travelers have already tacked leisure travel onto a business trip at least once in their career.
As per Grand View Research, which is a marketing research firm, “The global bleisure travel market size was valued at USD 933.31 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 12.1% from 2023 to 2030. Bleisure travel is a recent trend where employees mix business visits with leisure travel. The travel business (and workforce) are being entirely spread across up by this trend, which is eventually transforming the nature of work. It gives employees the possibility to extend a business trip’s timeline to return by a weekend, a week, or more. According to Expedia Group in 2019, around 50% of travelers desired an extension of the business trips as leisure travel owing to the location of the trip and the offerings in terms of sightseeing, such as historical landmarks. In addition, 56% indicated they would be more likely to contemplate a bleisure trip if the destination provided refreshing cuisine and restaurants”.
Other reasons for the popularity:
- Reduced carbon footprint: For travelers concerned about carbon emissions, blending business with leisure prevents additional air travel to their destination.
- Opportunity to explore new places: Business trips often take individuals to unfamiliar cities that they might not have visited otherwise; thus adding extra days provides ample time for exploring the surrounding areas without feeling confined in one area of the city.
- Opportunity for rejuvenation: Business travels can be stressful; hence extending your trip by a few days will enable employees to relax and recharge before returning to work more productive than before. Sometimes it is also called Morale Buster
- Time spent with loved ones: Many travelers bring along family members or friends on business trips allowing them quality time together once work commitments are fulfilled.
Reference:
- What To Know About Bleisure Travel in 2024, Author: Libby Zay 5Jan 2024
- Bleisure Travel Market Size, Share & Trends Analysis Report By Tour Type (Solo, Group), By Travel Type (Domestic, International) By Travel Duration (2-4 Days, 1 Week, Above 1 Month), By Region, And Segment Forecasts, 2023 – 2030