BTN Europe presents an overview of business travel and MICE predictions for this year
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Business travel sales through TMCs rose by 4% during the second quarter of 2014 compared to the same period last year.
Figures from the 40 members of the GTMC showed that air transactions rose by 1% between April and June – the fifth consecutive quarter of growth for flight bookings, although the rise was at its lowest level since the first quarter of 2013.
Other sectors of business travel grew more quickly in the last quarter with hotel transactions and rail bookings both rising by 5% year-on-year, while car rental sales shot up by 30%.
The GTMC said in its Quarterly Review that the growth in rail travel was “reinforcing the accountants and purchasing managers’ view that domestic growth is driving the economy”.
GTMC chief executive Paul Wait called the results of the survey “very positive” and showed that “as the economy strengthens, so too does the demand for business travel”.
“While business confidence has grown for eight consecutive quarters, the slight slowdown in air transactions in relation to GDP and the uptick in rail figures lends credence to the idea that an increase in domestic demand has a major role to play in driving the sector,” added Wait.