Old-fashioned business travel is dead (but don't blame the pandemic)

Everyone knows that business travel nearly stopped during the pandemic. But not everyone agrees about what happens next.

Hotels and airlines are optimistic, saying it's only a matter of time before the sector comes roaring back to its former glory. Former Microsoft CEO Bill Gates splits the difference, saying business travel will come back but stay at only 50% of its former strength.

Sorry, hospitality industry: Gates is right. The Golden Age of wasteful spending on business travel is over. Here’s what that means for you and your company.