The UK governed by a single party will benefit the UK economy and bring greater stability to the business travel sector, the GTMC has said.
As it publishes results from its first quarter transaction survey, the GTMC said a one-party government will bring an end to the “uncertainty” that faced the industry under a Conservative-Lib Dem coalition.
The survey showed that members’ air transactions are up for the eighth quarter in a row, while rail bookings increased sharply with a 15 per cent jump.
Hotel bookings and car hire transactions also increased, 7 per cent and 3 per cent respectively, compared with the same quarter last year.
GTMC CEO Paul Wait said the continued increase in transactions and GDP demonstrates the value of business travel growth and importance of political stability.
“As the pound continues to remain strong and UK competitiveness in the global market is challenged as a result, the onus is on business owners to invest in air travel to international markets to support the growth effort overseas,” said Wait.
“These results reflect the transactions made during January-March this year, the final full quarter of trading during the Conservative–Liberal Democrat coalition government and a period of uncertainty about the future. As we enter into a new government under the Conservatives we anticipate the effects this will bring to the UK economy.
“In their election manifesto the Conservatives confirmed their commitment to improving transport facilities and infrastructure in a number of areas relevant to business travel: support for high speed rail, action to reduce rail fares and investment in additional motorway construction.
“These all have critical roles to play in laying solid foundations from which UK plc can increase business travel and therefore grow the economy,” Wait said.
The GTMC’s quarterly survey monitors a range of services offered by TMCs and highlights trends in the business travel sector.