No increase in business travel budgets for majority of buyers
Only a third of Europe’s business travel buyers have more money to spend this year compared to 2014, according to an annual survey commissioned by the Business Travel Show.
This is a slight drop on previous years, it said. In 2014, 37% of budgets rose and in 2012 and 2011, 39% of buyers had more money to spend.
Almost half – 45%- of buyers expect to manage more trips this year, compared to 48% more in 2014. Half (47%) of buyers expect their overall costs to rise.
The survey revealed that only 9% of buyers don’t currently – or have plans to – use low-cost airlines and 26% plan to increase their usage in 2015. More than a third – 38% – bought fewer business class seats in 2014 and 23% will now only pay for business class travel for flights over eight hours.
Of the 179 buyers who took part in the survey, 73% were from the UK and the remainder from continental Europe.
All buyers said they used budget hotels, although for 82% they account for less than half of the room nights they book, but 12% used budget accommodation more or significantly more in 2014.
Martin Searle, senior category manager – travel services, Xchanging, said: "Minimising cost increases in an apparently recovering economy remains a huge challenge for business travel buyers in 2015."
Airline pricing was voted as the biggest concern facing buyers in 2015, followed by cost control, compliance, increased hotel rates and traveller safety.
The full Corporate Travel Industry Trend Report featuring analysis going back to 2008 will be available to all buyers who pre-register for the show, which takes place on February 25 and 26 at Olympia Grand in London.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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