BRITISH BUSINESS IS ON THE MOVE AGAIN
NEW TRAVEL MANAGEMENT SURVEY REVEALS
Latest figures from the influential Guild of Business Travel Agents confirm that British companies are stepping up their business trips worldwide.
The numbers of trips by air (primarily international) and by rail (primarily within the UK) were both eight per cent higher in the final quarter of 2003 compared with the same period in 2002.
“This is particularly reassuring for the British economy as a whole,” says GBTA chief executive Philip Carlisle. “Any growth in business travel reflects growth in economic activity. These people are travelling for a purpose, not for the fun of it, and that can only be good news for UK plc.”
The positive indicators come from the new GBTA Quarterly Transaction Survey . The Guild's 34 member travel management companies – who between them account for around 80 per cent of the travel undertaken by British businesses – are being asked to submit quarterly figures so that the organisation can monitor market trends.
The first results show significant increases in air and rail travel, and a massive 20 per cent leap in the number of “other” transactions, covering such travel elements as passport and visa applications, travel insurance and the like.
There was a small two per cent decline in the number of hotel transactions, but Carlisle points out that accommodation bills are often paid direct by the traveller, and so would not show up in the GBTA research.
“Overall, GBTA members have reported a seven per cent increase in travel transactions, confirming reports that the recovery is well under way,” says Carlisle. “It is important to remember, too, that the fourth quarter is a comparatively quiet time for business travel – we confidently expect our next Quarterly Transaction Survey to show an accelerating growth pattern.”
QUARTERLY TRANSACTION SURVEY RESULTS
| Transactions | Q4/02 | Q4/03 | +/- |
|---|---|---|---|
Air |
1,126,397 |
1,211,935 |
+8% |
Hotels |
320,915 |
315,873 |
-2% |
Rail |
421,832 |
457,371 |
+8% |
Car hire |
52,765 |
52,126 |
-1% |
Others* |
202,866 | 243,681 |
+20% |
Totals |
2,124,775 |
2,280,986 |
+7% |
Note: * = “Others” includes such transactions as passport and visa services and travel insurance.
Source: GBTA Quarterly Transaction Survey.
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