More TMCs under review
A larger number of corporate buyers will review their travel management company this year, according to a report out today.
The Institute of Travel Management’s third annual digest found that nearly half of the 200 buyers questioned said they will be reviewing their TMC during 2009, compared with a third in previous years.
ITM chief executive Paul Tilstone believes there will also be a move towards automated transactions.
“The economic situation we find ourselves in is likely to accelerate the key trends identified in the research and I think we shall see greater transaction automation, even greater compliance and further reduced trips through the combined economic/environmental effect in the year ahead,” he said.
“With transaction numbers down at the end of 2008 by up to 23%, variable by sector, I think it’s fair to say that we are entering unchartered waters.”
The research also found that:
– Buyers were almost equally split on whether their travel and meeting programmes would expand, contract or remain static over the next 12 months
– Demand for business class airline seats is to fall, whereas demand for self booking tools, no-frills carriers and meetings and events services are to rise
– Average self booking tool adoption has increased from 13% in 2006 to 38% in 2008 across UK buyers.
– Companies able to account for travellers whereabouts within an hour has risen from 50% in 2006 to 76% in 2008
– Risk assessments introduced for travellers going outside of Europe and the US increased from 20% in 2006 to 69% in 2008
– The number of buyers who consider they can make a difference to the environmental damage caused by the industry has increased from 17% in 2007 to 47% in 2008.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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