Fewer buyers will have bigger corporate travel budgets this year
One third of buyers will have bigger corporate travel budgets in 2019, according to research by the Business Travel Show.
The figure is on par with 2017, but down from 40% last year.
The poll of 134 European buyers, conducted ahead of next month’s show, also revealed a slight increase in the number of budgets on the downturn – from 13% in 2018 to 15% for next year.
The show’s annual survey revealed fewer buyers will see a reduction in their accommodation budgets, with 14% seeing a reduction, compared to 24% last year. There is a slight rise in buyers with less to spend on air travel – 16% compared to 11%.
One third of buyers will have more trips to manage, significantly fewer than the 45%. And there was a drop in the number who forecast an increase in travel costs – from 47% last year to 43%.
David Chapple, Business Travel Show group event director, said: "The wobble shown by these results may reflect the uncertainty and dent in confidence the industry is currently experiencing in the light of Brexit.
"Despite the EU agreeing to the Government’s plan to divorce, how Brexit will affect business travel for the UK and Europe is still very much conjecture and, unsurprisingly, organisations are remaining cautious about spend."
The Business Travel Show celebrates its 25th anniversary this year. Its theme is Travel 2022 and much of the show’s content will hinge on how buyers can prepare for the future.
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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