Tuesday 7 January 2020

The Number of Buyers Forecasting Bigger Business Travel Budgets at Five Year High

The Number of Buyers Forecasting Bigger Business Travel Budgets at Five Year High
The number of corporate travel buyers forecasting bigger budgets for the year ahead is at a five-year high, according to annual research conducted by Business Travel Show. 41% of buyers polled said they would have more money to spend on travel in 2020, compared to 33% last year.

The volume of buyers predicting an increase in travel costs was also at a record high (49% compared to 43% in 2018) and there was significant uplift in those expecting to manage more trips (52% compared to 33%).

114 European buyers took part in this year’s Business Travel Show poll, 56% from the UK, 35% from continental Europe and 9% from the rest of the world. 61% of buyers responded control budgets in excess of £1m.

Other highlights from the survey:

  • 45% of buyers polled will have more to spend on accommodation in 2020 – an increase of 16% on 2019
  • 65% are expecting to book more room nights, compared to 40% a year ago
  • 41% will have bigger airline budgets, rising 10% over last year


Business Travel Show group event director David Chapple commented: “Last year’s survey showed a downturn in numbers across the board – with fewer buyers predicting airline, accommodation and overall budget increases. This was unsurprising with Brexit on the horizon and businesses holding back on both decision-making and spending. These figures appear to show a return to form and are back on par (if not slightly above) 2018’s statistics, which is very encouraging news for the industry.”

How budgets compare year on year over five years:

  20vs19 19vs18 18vs17 17vs16 16vs15
Budgets          
Bigger 41% 33% 40% 32% 29%
Smaller 19% 15% 12% 21%  
The same 40% 53% 48% 47%  
           
Travel costs          
Increase 48% 43% 47%    
Decrease 17% 10% 13%    
The same 35% 47% 40%    
           
Number of trips managed          
More 52% 33% 45% 48% 44%
Fewer 17% 14% 15% 37% 37%
The same 31% 53% 40% 15% 19%
           
Airline budgets          
Bigger 41% 31% 49% 40% 33%
Smaller 18% 16% 11% 15% 24%
The same 41% 52% 40% 45% 43%
           
Accommodation budgets          
Bigger 46% 29% 49% 32% 38%
Smaller 18% 14% 24% 14% 21%
The same 36% 56% 31% 54% 41%
           
Room nights          
More 65% 40% 45%    
Fewer 11% 10% 24%    
About the same 24% 50% 31%    

 

Business Travel Show takes place 26-27 February 2020 at Olympia London and ‘conscious travel’ is one of its themes for this year, with much of the show’s content hinging on how buyers can deliver more ethical travel programmes. Visitors will also enjoy a moment of serenity in the new Wellness Retreat, where they will find innovative solutions for improved traveller wellbeing.

Business Travel Show will welcome over 9,000 visitors, more than 260 exhibitors and over 400 buyers on its extensive hosted programme. The conference programme will feature over 90 hours of content, 88 sessions and more than 120 speakers.

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