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September 2022, Virtual
September 29 2022, Virtual
The majority of travel buyers will have higher budgets in 2014 than last year – even though only 49 per cent are buying more trips.
Some 76 per cent of buyers said they would have more money to spend this year, according to a survey of more than 180 buyers by the Business Travel Show, which takes place at Earls Court in London on February 4-5.
The figure is an increase on the 72 per cent of buyers who said budgets would rise or stay the same in 2013, which was itself a rise on the 67 per cent seen in 2012’s poll.
The survey found that airline budgets were set to rise or stay the same this year for 76 per cent of buyers and 74 per cent said the same of accommodation budgets. While 83 per cent said that they would be buying more or a similar number of trips as last year.
Buyers said that the biggest issue for them over the next year would be the introduction of IATA’s New Distribution Capability (NDC), which is set to change the way airfares are distributed through TMCs, followed by travel management 2.0, data, sustainability and meetings management.
David Chapple, event director of the Business Travel Show, said: “The survey results are great news for buyers, who have faced intense pressure over the last couple of years to cut costs and stretch budgets.
“The figures in our survey also support the GBTA’s own predictions that the UK business travel industry is heading for very strong growth in 2014 and 2015 and, following a trying few years, western Europe’s major markets should see a bounce back over the next five years.”