Strategic Meetings Summit London, 26 September,
September 29 2022, Kimpton Fitzroy London
Friday 30 September 2022, JW Marriott Grosvenor
Business travel is set to go to from “strength to strength” in 2014 as confidence continues to grow in the sector, according to a survey published by the GTMC.
Results from GTMC's final quarter transaction survey of 2013 revealed sales among TMCs grew by 7% compared to the same quarter in 2012.
This outweighs UK GDP figures for the same quarter, which saw the economy record 0.7% growth, the GTMC said.
GTMC membership accounts for more than 80% of UK expenditure on managed business travel.
The survey found hotel sales rose by 15% in the three months to December 2013 when compared to the same period in 2012. Rail saw a 7% increase in the same quarter and air sales increased by 4%.
A decrease of 3% in the quarter on ‘other’ services such as, consultancy services, ferries, visas, currency exchange and meet and greet, was countered with a 6% increase for the year-on-year comparison.
GTMC’s chief executive, Paul Wait, said: “The year end transaction figures are very positive, proving that business travel is continuing to go from strength to strength.
“Now that the people holding the purse strings are becoming more optimistic, the overall economic outlook is positive. Confidence has a big impact on business behaviour and this attitude shift should deliver increased demand for business travel.”
Wait said with airline pricing strategies set to become more complex the need for TMC’s to bring knowledge and value to the table has never been more “crucial”.
“This is where a TMC really proves their worth in being able to ensure the travel they recommend is right – be it for budgets, business objectives, cultures or more often than not, a combination of all three,” he said.