New research points to recovery for business travel market

Despite concerns over the rising price of corporate trips, the business travel market is still firmly on the path to recovery following the onset of the recession.

That’s according to the latest ‘International Travel Management Study’ from AirPlus, which sought feedback from 958 travel managers across 24 different countries to provide an accurate review of the market at present.

The report highlighted some unrest towards the cost to send delegates out on trips, with 40 per cent of travel managers expecting this to rise over 2014. However, the general consensus is that things are looking up for what has grown to become a huge contributor to the global economy.

Cited by supplymanagement.com, notes from the report said the strength of the market was being counterbalanced by activity in countries like Spain that are still beset by the economic crisis.

Patrick Diemer, chairman of the management board at AirPlus, said this still wasn’t a cause for concern.

“Despite major regional differences, this trend from previous years remains stable, and points to sustained recovery of the business travel market,” he told eturbonews.com.

“If we look at the development in travel spend. We can see the growing importance of professional travel management to control travel costs.”

Travel managers in Turkey reported the highest level of confidence, with 73 per cent expecting the number of trips to rise over the course of the year. At the other end of the scale, India and South Africa reported levels of 53 per cent and 47 per cent respectively.