UK business travel market heading for strong performance in 2014

Despite having to focus on stretching budgets and cutting corners in recent years, new research indicates that business travel managers will enjoy a much more fruitful year in 2014.

Britain’s own business travel market has been tipped to experience a great deal of growth this year as companies start to react to the improved economic outlook.

According to a survey of 183 professionals from the Business Travel Show, 76 per cent of corporate travel buyers will have more money at their disposal over 2014, compared to their budgets last year.

Meetpie.com says this marks a four per cent increase on the total in 2013 and the third consecutive year that budgets have increased.

The research noted that 76 per cent of airline budgets will either rise or stay the same this year, while 74 per cent of accommodation budgets will increase.

David Chapple, director of the Business Travel Show, told internationalmeetingsreview.com the survey is “great news” for buyers in the UK.

“The figures in our survey also support the Global Business Travel Association’s (GBTA) 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.”