Business meals grow by 68 % in two years and take place closer to home thanks to hybrid work

Business lunches are back in vogue and regaining popularity as business leaders increasingly use them as an opportunity to network and forge key professional relationships. New research from International WorkplaceGroup (IWG) reveals that business lunches are increasingly being held on the outskirts of cities, closer to where workers live.

The survey of more than 500 business leaders revealed that two-thirds (68%) say they attend more business meals than they did two years ago. This figure rises to 80%among young people aged 25 to 34, demonstrating the value that Generation Z executives and millennials place on face-to-face collaboration in a hectic work world.

IWG research shows that business lunches, once exclusive to downtown business districts, are now also being held in the heart of local neighborhoods. Four out of five (80%) executives said they now host meals closer to residential areas, thanks to the rise of flexible workspaces, which reduce the need for long daily commutes.

In Spain, the rise of hybrid work is also transforming the way professionals network and consume. According to the InfoJobs report V Radiografía del Teletrabajo en España, more than a third of companies (35%) already operate in hybrid format, consolidating a model of flexibility that settles between companies.

The study also reveals that face-to-face relationships remain essential: 38% of employees come to the office to socialize with their colleagues and 35% do so for team meetings, underlining the importance of human contact in the workplace.

This trend is also reflected in restoration, KPMG's Consumer Goods Sector Outlook (FMCG) report – Spain 2024, notes that flexible working is driving activity in residential areas and generating new consumption occasions, such as business meals or afterworks close to home. Overall, flexible work is not only redefining where you work, but also where you connect and do business.

 

According to data from OpenTable, table-service meals on Wednesdays have increased 10% in the past year alone, the largest increase of any day of the week. This is in line with office and coworking space attendance data from IWG, which shows that Wednesday is the most popular day to work from a professional coworking space.

The study further reveals that on average business leaders attend 4.5 business meals a month, and nearly seven in ten (69%) consider them essential for closing deals, while four in five (82%) recognize their significant impact on business results.

In an era increasingly dominated by technology, 87% of executives consider face-to-face meetings to be critical. In addition, business meals tend to be smaller and more intimate, with 81% saying that meetings are now smaller, more focused gatherings, in contrast to the more numerous meetings before the pandemic.

Mark Dixon, founder and CEO of International WorkplaceGroup, added: «This latest research highlights that business meals are still in place and continue to play a key role in creating and strengthening professional relationships. Like the office itself, this practice is far from disappearing, as professional meetings and networking are increasingly taking place in residential areas, in the heart of neighborhoods, closer to where people live.

They are also increasingly taking place in the heart of neighborhoods, closer to where people live.