BTMS survey says 25% have higher budgets
A third of business travel buyers are booking more trips, and more than a quarter have revealed their budgets are on the up, according to the latest survey from the Business Travel and Meetings Show (BTMS).
In a survey of 1,400 business travel managers, more than a quarter (27%) said their budgets will be boosted for 2010 and 35% of buyers plan to book more trips.
David Chapple (pictured), event director, BTMS, said: "The business travel industry has been through a very bumpy ride over the last 18 months, so these survey results are a much needed glimmer of optimism as we enter a new decade: a sign that things are back on track and we are heading in the right direction."
Around half (46%) of respondents said their budgets would remain stable, while 27% of managers will have less money to spend.
Four in ten buyers will manage the same number of trips, but one quarter will make fewer bookings.
The improved outlook belies a sense of optimism amongst the UK's buyers, with over three quarters (76%) of the industry believing the UK will be out of recession by the end of the year.
Despite higher budgets on average, travel policies are likely to get stricter, say the 81% of respondents who are being forced to adopt stricter travel policies for 2010.
"The survey also makes clear is that, while budgets and travel plans are stabilising and in some instances growing, managers are still facing huge pressure from the board room to get more for their money," said Chapple.
Almost half (44%) will be booking lower class airline tickets and 22% lower quality accommodation.
Some 46% also plan to increase their use of video conferencing in 2010.
www.businesstravelshow.com