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How Virtual Reality Save Your Money on Business Travel?

Business travel might fascinate some of your employees, but it can put a lot of pressure on the financial resources of your company. According to estimates, a business spends more than $1000 on the business trip. Although, this might not be such a big deal for large-scale enterprises, it is surely a big expense that small and mid-size businesses cannot afford to incur after every few weeks.

Thankfully, digital technology has offered a solution for small businesses that can help small and mid-size business to save business travel expenses. Arthur Van Hoff, CEO of Jaunt, a cinematic VR company is trying to make this a reality. He believes that VR tech will completely transform corporate travel industry in coming months.

Yusuf Azizullah, Founder and CEO of Global Board Advisors Corporation asked a very importation question, “Is it not time to allow board members to be virtually present for boardroom sessions and special ad hoc urgent meetings?”

Here is how virtual reality will revolutionize corporate travel.

1. VR Conference Rooms Are Already Here

If you are a small or mid-size business and have to go on a business trip every month then it will consume a big chunk of your budget. In theory, VR can save you a lot of by money by replacing travel. Collaborative VR workspaces is no longer a dream but a reality. Many companies such as AltspaceVR and High Fidelity are already working on this idea. The shift to haloboration technology will ensure that you can attend any meeting without leaving the comfort of your room.

2. VR traveling Sees the Light of the Day

There has been a common misconception that VR is only for gamers. VR technology has come a long way since then and encompassing every industry you can think of and travel is no exception to this. Tourism Australia is already attracting customers by using provocative slogans such as “become a virtual reality traveler.” Dubai yacht rental and charter companies will also look to implement VR. Although, time will tell how successful these slogans can be but the initial results are more than satisfactory.

3. Replacing Business Travel With VR

Business world is so connected that you can not even think about staying isolated and succeeding. In order to achieve business success, you will have to build long term relations with business stakeholders. That is why it is important to go on a business trip and businesses are increasing their business travel budgets. Despite all the technological advancement, nothing can replace the value of face to face communication. Although, SMBs will struggle to eliminate business travel completely but they will look to supplement it with digital technology to a certain degree.

4. Client Communication Turn On A New Leaf

With VR headset flooding the market ad tech giants releasing their own VR headset such as Occulus Rift and Google Cardboard, VR will go mainstream. Handheld VR headset will improve in quality and capability, allowing users to replace reality. It will change the way small and mid-size business use to communicate with different stakeholders. Introduction of virtual reality means that you will be able to convey your message, deliver your presentations more interactively and immerse your target audience.

5. VR Has Its Limitations

Don’t get me wrong. Nothing is perfect and neither does VR has its limitations. If you think that you can do anything you want and replace anything with VR then you will be disappointed. Despite all the technological advancement, it might not be able to replace meeting someone in person. You can not have the same experience you can have on a desert safari Dubai with VR. The level of trust face to face interaction brings to the table is missing from VR.

When you travel thousands of miles just to meet with a client or attend an important business meeting, it reflects your commitment towards your business. It fosters trust and make clients believe that you are valuing them. This sow the seeds for a long-term relationship and convert them into loyal customers. The human connection you can build when you meet your clients in person can never be replicated when you are communicating with them with digital technology such as VR.

I will end this article with this quote from Douglas Adams, “The fact that all of this was happening in virtual space made no difference. Being virtually killed by virtual laser in virtual space is just as effective as the real thing, because you are as dead as you think you are.”

How do you think that VR will change the face of business travel? Feel free to share it with us in the comments section below.

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