In 2019, Jason Henrichs took 46 flights for business, traveling to cities where he stayed at hotels, dined at local restaurants, and sometimes even visited tourist attractions like the Liberty Bell. In 2020, he took just three flights. But forced to stay at home during the pandemic, Henrichs got a taste of a life where he sees his family more, and is just as effective at work. Tens of thousands of road warriors like Henrichs—and their employers—are coming to a similar conclusion, which is going to cause a reckoning for the already-battered leisure and hospitality sector. U.S. companies’ travel budgets declined by 90% or more in 2020, according to Deloitte Insights.
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