Gen Z-ers looking to combine work with wanderlust are in luck as companies up their business travel budgets to attract young talent. Olivia Palamountain reports
New data reveals that the majority of Gen Z welcome the chance to travel for work as it gives them the opportunity to explore new places alongside a variety of personal and professional benefits.
The Value of Business Travel Report, conducted by Travel Perk, surveyed 4,600 business travellers and found that a whopping 79 per cent of Gen Z respondents welcome work-related travel benefits.
With this in mind, companies are now spending an average of £2,282 per employee on business travel annually, with nearly half planning to increase their travel budgets through 2025.
The travel and tourism sector leads the way, with 60 per cent of companies in this industry planning to increase their travel budgets.
Other sectors following suit include tech (57 per cent), environment and agriculture (54 per cent), manufacturing, infrastructure and transportation (51 per cent), and finance (50 per cent).
For Gen Z employees who have travelled for work, over a third (37 per cent) have extended their trips for personal reasons. These extensions allow them to save on personal travel costs (39 per cent), relax before returning to the office (26 per cent), and even reduce their personal carbon footprint (19 per cent).
The report also highlights both personal and professional benefits of business travel for Gen Z. Over three-quarters (77 per cent) say it allows them to meet new people, while 44 per cent report feeling happier or more fulfilled. Professionally, 67 per cent note an increase in knowledge and experience, and 58 per cent say it helps them interact more with senior staff.
Importantly for employers, 76 per cent of Gen Z respondents indicated they would be more likely to stay in a role that offers travel opportunities.
Felicia Williams, vice president of people at TravelPerk, says: “With a new generation entering the workforce, we’re seeing their thoughts on blended travel and its perceived benefits shape what they view as meaningful value in the workplace. Reducing carbon emissions and saving money on personal travel is high on the list of importance, and Gen Z is resourceful in how business trips can help them get the most from both. As companies across industries seem set on expanding their travel budgets, they can consider more ways of recognising their return on investment, as our research shows this can lead to increased talent attraction and healthier employee retention rates.”
The study also found that the average employee travels about six times per year, with half of these trips dedicated to company social events and off-sites.
When extending business trips, Gen Z travellers prioritise exploring new locations (53 per cent), visiting family or friends (42 per cent), and adding leisure time to save on personal travel (39 per cent).
As companies across various industries expand their travel budgets, this trend could significantly impact talent attraction and retention rates, particularly among the younger workforce seeking to combine professional development with personal exploration.