Good news for hospitality: more than three quarters (76 per cent) of business travel buyers will have more money to spend in 2014 according to the annual business travel buyer survey carried out by the Business Travel Show. This is despite just 49 per cent of buyers being asked to book more trips.
74% of accommodation budgets to rise
The survey reveals a third consecutive annual rise in the number of buyers enjoying bigger budgets year on year. In 2013, 72 per cent of budgets were higher or the same than in 2012. And in 2012, 67 per cent of budgets were subject to an annual rise. 76 per cent of airline budgets will be the same or greater in 2014, 74 per cent of accommodation budgets will rise, and 83% of buyers will be expected the same or more trips.
183 travel, category and procurement managers took part in the survey for the Business Travel Show, which takes place 4-5 February 2014 in London. The majority of respondents were UK-based, 55 per cent control budgets in excess of £3 million and 65 per cent manage programmes with in excess of 500 business travellers.
When asked about the biggest issues facing them and the industry over the next 12 months, NDC came out on top, followed by travel management 2.0, data, sustainability, meetings management and mobile technology. The top 20 responses are below:
- NDC
- Travel management 2.0
- Data
- Sustainability
- Meetings management
- Mobile apps
- Technological developments
- Free Wi-Fi in hotels and on airlines
- CSR
- Terrorism
- Gamification
- Relaxation of policy
- Airline bankruptcy
- Integration of social and travel tools
- Ancillary fees
- Airline consolidation
- Risk management
- Virtual meetings
- Fuel increases
- Less reliance on TMCs
“The survey results are great news for buyers, who have had faced intense pressure over the last couple of years to cut costs and stretch budgets,” commented David Chapple, event director, Business Travel Show.
“The figures in our survey also support the GBTA’s 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.”
The survey stats:
|
2014 v 2013 |
2013 v 2012 |
2012 v 2011 |
|
| Percentage of business travel buyers with increased budgets |
76% |
72% |
67% |
| Airline budgets |
39% – greater 37% – the same |
|
|
| Accommodation budgets |
38% – greater 36% – the same |
|
|
| Number of trips managed |
More – 49% The same – 34% Fewer – 9% |
More – 57% The same – 22% Fewer – 22% |
|
Business Travel Show, 4-5 February 2014, Earls Court 2, London
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