EuRA Dublin 2023 Highlights Three Key Mobility Issues
In order to address industry challenges, the Worldwide ERCâ continues to work with its counterparts.
In Dublin, Ireland, I attended and spoke at the 2023 EuRA International Relocation Congress. I was pleased to attend the 25th anniversary celebration for EuRA, our industry partner that, as outgoing EuRA Executive Group President Michele Bramstoft said, brings together “the people who move the people who move the world.” Congratulations to EuRA CEO Tad Zurlinden and Chief Operating Officer Dominic Tidey on their Silver Anniversary!
Three key issues challenging our industry today were highlighted during conference sessions: housing, sustainability, and relocation.
Providing housing
Globally, there is a shortage of housing. Whenever a company relocates employees, it faces this problem. Several years ago, assignees had to stay longer in temporary housing, further from the office, and in less ideal accommodations. During the keynote address, economist David McWilliams explained why housing demand far outstrips supply and encouraged everyone to think unconventionally about these challenging times.
Sustainability
Our business strategies must continue to incorporate sustainability into the mobility industry. We can start with small steps, but we must all do our part—not only is it the right thing to do, but it will also become a precondition of doing business, if it isn’t yet.
The Coalition for Greener Mobility partners joined me at the conference to discuss the Coalition’s progress. This indicates “radical collaboration” among competitors and how we address sustainability issues. My post last week describes the remarkable progress the Coalition has made and how you can get involved.
The relocation process
In terms of relocation volume, last year was a great year, but that has cooled in the first quarter of 2023. Demand is expected to increase over the summer, and our industry will closely monitor levels. As a result of our Transfer Volume & Cost Survey last summer, we predicted a 5% increase in domestic permanent transfers this year and a 9% increase in prices.
It is a more complex relocation environment than what most are experiencing now. As a result of raising interest rates, the Federal Reserve has restored price stability and balanced the labor market. Despite layoffs in some industries, the demand for labor continues to exceed the supply of available workers in the United States, which has contributed to higher inflation. As a result of rising prices, the relocation industry has been softened. To gain a better understanding of our industry, the Worldwide ERC is continuing to dig deeper into the data.
Our industry looks forward to continuing to work with EuRA on the various issues affecting our industry, and we congratulate incoming EuRA President Alistair Murray and Vice President Isabel Cudell.
