Strategic Meetings Summit London, 26 September,
September 29 2022, Kimpton Fitzroy London
Friday 30 September 2022, JW Marriott Grosvenor
Business travel transactions have risen by 5 per cent over the last 12 months as the industry benefits from an improving UK economy.
The figures from the 39 members of the GTMC also revealed that business travel rose by 13 per cent during the three months between July and September, compared to the same period in 2012.
The GTMC said that the strong growth in bookings during the third quarter showed that “UK business community is feeling more confident about the future and economic recovery than it has for over three years”.
As a comparison, transactions by GTMC members only rose by 8 per cent year-on-year in the second quarter of 2013 and they dropped by 4 per cent in the first three months of the year.
There were rises in all the major travel categories during the third quarter with air bookings up 8 per cent, hotels rising 17 per cent, rail by 16 per cent and car rental by 13 per cent. Total transactions for the quarter rose from 3.8 million in 2012 to 4.3 million this year.
Paul Wait, GTMC chief executive said: “Business travel has long been a bell weather of economic and business confidence and our quarterly review shows clearly that the tide has started to turn.
“It is vital now that UK Plc keeps focused on recovery and the best way to do this is to approach business travel as an investment in growth.”