Bill Gates: More than 50% of business travel will disappear in post-coronavirus world Description video: The coronavirus will fundamentally alter the way people travel for and conduct business, even after the pandemic is over, Microsoft co-founder Bill Gates said Tuesday. […]
Bill Gates: More than 50% of business travel will disappear in post-coronavirus world
The coronavirus will fundamentally alter the way people travel for and conduct business, even after the pandemic is over, Microsoft co-founder Bill Gates said Tuesday. “My prediction would be that over 50% of business travel and over 30% of days in the office will go away,” Gates told Andrew Ross Sorkin during the New York Times’ Dealbook conference. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi \n\nThe coronavirus will fundamentally alter the way people travel for and conduct business, even after the pandemic is over, Microsoft co-founder Bill Gates said Tuesday.\n\n“My prediction would be that over 50% of business travel and over 30% of days in the office will go away,” Gates told Andrew Ross Sorkin during the New York Times’ Dealbook conference.\n\nMoving forward, Gates predicted that there will be a “very high threshold” for conducting business trips now that working from home is more feasible. However, some companies may be more extreme with their efforts to reduce in-person meetings than others, he said.\n\nGates, whose foundation has been working to deliver a coronavirus vaccine to people most in need, said during a new podcast, “Bill Gates and Rashida Jones Ask Big Questions,” that he’s had a “simpler schedule” due to the pandemic now that he doesn’t travel for business.\n\nThe philanthropist and tech executive, who appeared alongside Pfizer CEO Albert Bourla during the livestreamed conference on Tuesday, said he’s already held five virtual roundtables this year with pharma executives — a meeting that’s usually held in person in New York.\n\n“We will go to the office somewhat, we’ll do some business travel, but dramatically less,” Gates said.\n\nThe pandemic has devastated air travel demand, particularly for lucrative business trips. Business travelers before the virus accounted for half of U.S. airlines’ revenue, but just 30% of the trips, according to Airlines for America, an industry group that represents most U.S. carriers.\n\nHowever, Microsoft executives have predicted that business trips will make a rebound, even as the company moves to make air travel more sustainable.\n\n“We believe that as we return to the skies, the travel routes we’ve had … will resume at the level they had been before,” Judson Althoff, executive vice president of Microsoft’s worldwide commercial business, said in October.\n\n» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision\n» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC\n» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic\n\nTurn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.\n\nThe News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast \n \nConnect with CNBC News Online\nGet the latest news: http://www.cnbc.com/\nFollow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC\nFollow CNBC News on Facebook: https://cnb.cx/LikeCNBC\nFollow CNBC News on Twitter: https://cnb.cx/FollowCNBC\nFollow CNBC News on Instagram: https://cnb.cx/InstagramCNBC\n\nhttps://www.cnbc.com/select/best-credit-cards/ \n\n#CNBC\n#CNBCTV
Bill Gates predicted the future of post-coronavirus business
Microsoft co-founder Bill Gates says coronavirus will revolutionize the way people travel and do business – even after the pandemic is over.
«I foresee that over 50% of business travel and over 30% of working days in the office will disappear», – said Bill Gates Andrew Ross Sorkin during the Dealbook conference in the New York Times.
Gates believes that «very high threshold» for business travel, since working from home is more feasible. However, he says some companies may be more radical in their efforts to cut down on face-to-face meetings than others..
Gates, whose foundation is working to deliver the coronavirus vaccine to the people most in need, said on air of a new podcast «Bill Gates and Rashida Jones ask big questions», what does he have now «lighter schedule» due to the pandemic, as he does not travel on business.
Philanthropist and technical leader who appeared on the air alongside the CEO of Pfizer Albert Burla during a live broadcast of the conference on Tuesday, said he had already hosted five virtual roundtables with pharmaceutical executives this year, an event usually held in person in New York.
«We will go to the office less often, we will travel on business, but much less», – said Gates.
The pandemic has brought down the demand for air travel, especially for lucrative business travel. Business travelers accounted for half of U.S. airline revenues before the virus, but only 30% of travel, according to Airlines for America, the industry group that represents most U.S. air carriers..
However, Microsoft executives believe the business travel industry will recover and the company will seek to make its air travel more sustainable..
«We believe that when we return to the sky, the travel routes we had … will return to their previous level», – announced in October Judson Althoff, Executive Vice President of Microsoft International Business Business.