April 18, 2024

Travel buyers start 2019 with bigger budgets

One third of buyers will see an increase in corporate travel budgets in 2019 according to the Business Travel Show.

New budgets are on par with 2017 but down from 40% reported last year.

The report suggests buyers will have more trips to manage, fewer than the 45% last year and there was a drop in the number who forecast an increase in travel cost from 47% last year to 43%.

The show’s annual survey also found fewer buyers will see a reduction in their accommodation budgets at 14% compared to 24% year-on year.

The report did find a slight increase in buyers with less to spend on air travel, up to 16% from 11% previously.

“The wobble shown by these results may reflect the uncertainty and dent in confidence the industry is currently experiencing in the light of Brexit”, says David Chapple, Business Travel Show group event director.

“Despite the EU agreeing to the Government’s plan to divorce, how Brexit will affect business travel for the UK and Europe is still very much conjecture and, unsurprisingly, organisations are remaining cautious about spend”, adds Chapple.