UK companies to increase business travel spend over 2013

Britain is one of the many parts of Europe that will witness an increase in business travel spend over the course of 2013, according to new forecasts.

Predictions from The Global Business Travel Association’s (GBTA) latest report suggest that UK firms will spend 1.9 per cent more on corporate travel over the next year, bringing the total amount to £27.2 billion.

The report claimed a rise in expenditure will be fuelled by domestic business travel, meaning UK-based venues for hire could benefit hugely from the growth. However, it might be a case of pulling out all the stops this year, as GBTA believes most of the growth for Western Europe in 2014 will be underpinned by more international outbound travel.

Even so, Britain is still expected to see spend on both international and domestic outbound travel accelerate in 2014. Meetpie.com says trips abroad will grow three per cent to reach £9 billion, while domestic travel will rise 4.4 per cent to hit £18.8 billion.

This is far from the case around other parts of Europe, as France, Spain and Italy are all braced for declines of -1.4 per cent, -6.2 per cent and -2.9 per cent respectively.  

Cited by travelagentcentral.com, GBTA regional director Catherine McGavock said: “There are signs of recovery in Germany and the UK, with both expected to experience growth in business travel spending this year.

“We believe that this is the beginning of a wider trend in the region and expect growth in business travel spending to accelerate in 2014 to the levels we saw before the Eurozone crisis.”