Four out of ten buyers (40 per cent) will have bigger corporate travel budgets in 2018, compared to 32 per cent 12 months ago, according to research carried out by Business Travel Show.
Half of buyers (49 per cent) claim they will also have more to spend on air travel and accommodation. However, 45 per cent expect to have more trips to manage next year and 47 per cent expect total travel costs to rise.
The poll revealed:
A leap in buyers with increased accommodation spend – 49 per cent compared to 32 per cent yoy
Half of buyers with bigger airline budgets – 49 per cent compared to 40 per cent yoy
Just 15 per cent of buyers will have fewer trips to manage
Almost half of buyers (47 per cent) expect travel costs to increase
Carrie Nederpel, travel specialist in the Netherlands and Business Travel Show advisory board member, said:
“From what I have noticed here in the Netherlands, business is booming and, along with that, travel. The need and financial ability for corporate travel is increasing, as are the budgets to do so. The challenge for a travel buyer is how to spend our increase in money wisely and ‘shop around’, as it were. For me, the Business Travel Show is the perfect venue to do this.”
David Chapple, Business Travel Show event director, added:
“This time last year, geopolitical events such as Brexit and the imminent inauguration of President Trump left many concerned for the economy and the widespread feeling of uncertainty about what the future holds undoubtedly leaked in to the corporate travel market.
“The results of our survey, however, indicate that caution in business travel was short-lived and budgets and growth appear to be healthier than ever. In fact, some commentators have even suggested corporate travel may do better than other industries, as companies invest more in travel to explore alternative trade avenues outside of Europe following the Brexit vote.”
The research was carried out on 243 buyers.
The Business Travel Show takes place at Olympia London from 21-22 February 2018. Buyers can register for free at www.businesstravelshow.com/register