CNBC reports that the pandemic’s aftermath will see fundamental changes in the way business is run, including a 50% reduction in business travel. Speaking at the New York Times’ Dealbook conference, Gates told a reporter that with the reduction of in-office presence and the new normal of working remotely and meeting over digital platforms, the threshold for requiring in-person presence at far locations will go way up. Business travel formerly accounted for half of US airline revenue with just 30% of the trips, providing an outsized portion of profits for the industry. Meanwhile, some executives at Microsoft, where Gates was the founder and former CEO, are predicting that business travel will actually make a comeback.
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