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Why Investing In Travel Drives Innovation

Investing in travel to drive innovation

2 min
Posted: 19 February 2024
Co-Workers Collaborating In Office

To outpace competitors, companies must continually drive innovation with cutting-edge technologies and products in a world where remote and hybrid work are common themes. Given corporate goals and silo work styles, what’s the right setting for brainstorming? Harvard Business Review Analytic Services did a survey of over 400 people familiar with their company’s business travel and here’s what they found:

There’s a clear connection between in-person meetings and innovation. In fact, 81% of those surveyed agree that in-person interactions foster greater levels of innovation for the business.

In the report “Investing in Travel to Drive Innovation”, you’ll find more intriguing survey results like the one above. The report demonstrates that closer relationships, greater understanding and shared risk-taking are all essential to driving innovation and ideation. And it suggests that bringing people together in person – whether it be cross-functional teams or employees and customers – helps build better relationships and increase collaboration. Supporting that point of view are compelling metrics:

  • 83% agree that building closer relationships with customers is the greatest benefit of meeting in person with clients, customers and prospects.
  • 74% agree that stronger relationships among teams is the greatest benefit of meeting in person for internal meetings.

The report’s findings are put in perspective by the unique viewpoints from business leaders in corporate and academic worlds. They shed light on the value of in-person meetings and share practical ways to drive the innovative process and, ultimately, create a culture of innovation.

With many colleagues and business partners working miles apart, it’s time to think more intentionally about bringing people together for innovation purposes. The report’s insights give a strong indication that business travel to drive innovation can deliver meaningful returns.

Ready to start reading? Download the report now.

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