A EUROPEAN SUPER LEAGUE

The TMCs with a pan-European presence have their origins in high-touch service
or technology but are now beginning to meet in the middle

BIG AMBITIONS
The world of business travel has become ever more polarised over the years, driven by the changing money flows in the industry. At the base of the pyramid you find the smaller, national travel management companies that specialise geographically but often also in terms of sector expertise – it is here you often find the oil and gas experts, for example.

Sitting above them in the pyramid are the midmarket TMCs, larger in size and scope than those specialists and often forming important parts of the international networks such as Radius and GlobalStar. Yet those in the middle are increasingly being squeezed by those at the pyramid’s azimuth – the ever-hungry multinationals with a focus on volume. These behemoths have the best known global brands and invest heavily in both their global footprint and in common technology to offer solutions to corporates who want the same thing everywhere they operate.

As margins have become thinner in the TMC sector, the race to buy business has never been more important, driven by the low transaction fees that are made possible by economies of scale.

Disruptive upstarts from the technology sector, pumped up with cheap venture capital money, are beginning to park their tanks on the legacy TMCs’ lawns and they do not like it

Yet the big name multinationals are now being challenged in their own backyard. Disruptive upstarts from the technology sector, pumped up with cheap venture capital money, are beginning to park their tanks on the TMCs’ lawns and they really do not like it.

The new players don’t have the legacies to support that the longer established names have and are winning business, particularly from fast-growing companies in the tech space in start-up hotbeds from Silicon Valley to Shoreditch. The legacy players argue that the new entrants don’t have the level of service they can offer but is it true or is it just sour grapes that someone is taking them on at their own game?

So we welcome you to explore our first ever European multinational leading TMC ranking and find out how the legacy players match up against the online travel management platforms.

Discover the background to Europe’s multinational TMCs whose presence span the continent, read analysis of the UK, French and German TMC markets, and explore the mergers and acquisitions reshaping the industry