INCREASED COSTS AND
COMPLEXITY
BENELUX’S LEADING TMCs 2026
The Netherlands remains one of the top six markets in Europe for business travel, according to the Global Business Travel Association.
22 June 2026
Belgium is the smaller market but the number of business trips made by Belgian residents is now around 2 million per year up from around 1.4 million in 2024.
The state-of-the-regions economy are a mixed bag.
The Dutch economy grew by 1.9 per cent in 2025, up from 1.1 per cent in 2024. The 2025 figure is around the country’s 30-year average of 2.0 per cent. The trade balance made a positive contribution to growth in 2025 while per cent public consumption and investments were higher than in 2024. Manufacturing and trade made the largest contribution to economic growth in 2025.
Belgium’s economy coasted along at the same rate of growth as the previous year – 1.0 per cent. The annual figure was dragged down by a sluggish final quarter of the year when activity was weighed down by weak private consumption and softer foreign demand. Exports were down 1.6 per cent and imports fell by 1.1 per cent.
Luxembourg’s economy grew by 0.6 per cent in 2025, supported by both private and government consumption. It lags well behind the Eurozone average of 1.5 per cent.
Odete Pimenta da Silva, Managing Director of the Nederlandse Associatie voor Travel Management (NATM) says economic uncertainty and trade tensions placed additional pressure on corporate budgets in 2025.
“Airspace restrictions, route changes and heightened security concerns increased operational complexity and travel costs. These developments reinforced the importance of effective risk management, traveller safety and business continuity. As a result, Dutch travel managers placed greater emphasis on duty of care, supplier diversification and building resilient travel programmes capable of adapting to a rapidly changing global environment,” she said.
There was pressure on costs during the year.
“Travel managers were primarily concerned with the underlying cost pressures,” she said. “Rising airport charges at Schiphol, increasing labour costs and operational constraints contributed to higher travel costs for Dutch corporates, particularly those with significant reliance on KLM and Schiphol.”
Pimenta da Silva said that the competitiveness of Schiphol as an international hub is an issue.
“Rising airport charges and passenger taxes directly affect corporate travel budgets and increasingly influence sourcing decisions and route choices. This matters not only for individual companies but also for the Dutch economy, as efficient international connectivity is essential for trade, investment, innovation and maintaining the Netherlands' position as a leading international business location,” she said.
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BENELUX'S LEADING TMCS 2026 (1-14)
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CHOPPY REGIONAL AIR SPACE
In 2025, KLM Group achieved an operating result of €416 million on revenues of €13.2 billion, representing a 3.9 per cent increase in turnover compared to 2024.
KLM CEO Marjan Rintel said when the results were released: “2025 was a challenging year for all KLM employees…Through our Back on Track improvement program, we exceeded our €450 million target; we increased revenues, reduced costs and improved productivity. This provides a strong foundation, but the results show that more action is required. Only through strict cost control and more reliable operations can we achieve a lasting recovery.”
Despite higher airfares, Dutch corporates continued to travel in 2025.
“Rather than travelling less, companies travelled more intentionally. Travel managers reported stricter trip approvals, a stronger focus on trip value and ROI, and improved planning to control costs,” she said. “At the same time, a gradual increase in business class use on long-haul routes reflected a growing recognition of traveller wellbeing and productivity. The message from our members is consistent: face-to-face meetings continue to deliver value that virtual alternatives cannot fully replace.”
Rail, a vital mode of business travel in Benelux, is undergoing something of a transition from only a sustainability initiative to a core procurement consideration, driven by improved connectivity and cost considerations.
“CSRD reporting requirements also elevated the role of travel managers, who are increasingly responsible for providing accurate emissions data and supporting wider ESG objectives,” said Pimenta da Silva.
Interest from NATM members is growing around the use of AI for sustainability reporting.
“With CSRD obligations landing for larger Dutch companies, the ability to automatically capture and report CO2 data per trip, per route and per modality is becoming a compliance need, not just a sustainability aspiration,” said Pimenta da Silva.
BENELUX PRAGMATIC WITH ARTIFICIAL INTELLIGENCE
AI is creeping into TMCs across the Benelux region.
“Corporate travel managers should approach the vendor noise with a critical eye,” warned Pimenta da Silva. “The announcements have been numerous, every TMC and technology provider has an AI story, but the actual impact on travel programmes varies significantly.”
She added, “Where we see real, practical value for our members: policy enforcement at point of booking, automated expense processing, and disruption management. These are areas where AI removes friction, reduces manual workload for travel managers, and improves the traveller experience. In a year when KLM faced significant operational disruptions, automated rebooking capabilities were not a nice-to-have, they were a genuine service differentiator.”
AGENCY CONSOLIDATION CHANGES THE NORDIC LANDSCAPE
The merger between Amex GBT and CWT was one of the most significant developments in the business travel sector in recent years, and its impact on the Dutch market is still unfolding.
“By bringing together two major global TMCs, the merger has reshaped the supplier landscape and created an organisation with greater scale, resources, and global reach,” she said. “For travel managers, the past year has largely been about managing change. While greater scale may lead to enhanced technology, data capabilities and service offerings, further consolidation also reinforces the importance of strong contracts, clear SLAs, and ongoing performance management.”
Beyond Amex GBT-CWT, 2025 was a landmark year for consolidation in the TMC sector, with several major acquisitions reshaping the market.
“The main drivers are the need for scale, investment in technology, and increasing private equity involvement,” said Pimenta da Silva. “For travel managers, this means the supplier landscape is changing rapidly. It also means that they may have to work with a TMC which was not their first choice in their RFP-process. As consolidation continues, organisations should regularly review their travel programme requirements and assess whether a global, regional or specialist TMC remains the best fit for their needs.”