TravelPerk, a Barcelona-based business travel management platform, has raised $200 million, achieving a significant valuation of $2.7 billion. This rounds out a robust year for corporate travel startups, coinciding with the resurgence of the travel industry post-pandemic. The demand for business travel is projected to reach a historic high, with a forecast of $1.5 trillion in 2024. To further bolster its offerings, TravelPerk has acquired Swiss startup Yokoy to enhance its expense management capabilities. The company's CEO underscored that remote work has not significantly affected business travel demand, as companies remain focused on travel investments for growth.
Hybrid and remote working models have had a minimal impact on demand for business travel - those who are travelling for work will continue to do so, because it's part of their job.
With the travel and tourism industry just about back to pre-pandemic levels, this has proved a boon for startups offering everything from tour packages and trip-planning tools, to luggage storage and vacation rental smarts.
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