Four out of ten (40 per cent) buyers are set to have bigger travel budgets in 2018, compared to 32 per cent 12 months ago.
According to new research by the Business Travel Show, 49 per cent will have more to spend on air travel and accommodation, while 45 per cent expect to have more trips to manage next year.
Of the 243 buyers surveyed, 47 per cent also believe that total travel costs will rise throughout the New Year.
“From what I have noticed here in the Netherlands, business is booming and, along with that, travel. The need and financial ability for corporate travel is increasing, as are the budgets to do so,” said Carrie Nederpel, Business Travel Show advisory board member and travel specialist in the Netherlands.
“The challenge for a travel buyer is how to spend our increase in money wisely and ‘shop around’, as it were. For me, the Business Travel Show is the perfect venue to do this.”
David Chapple, event director for the Business Travel Show, added: “This time last year, geopolitical events such as Brexit and the imminent inauguration of President Trump left many concerned for the economy and the widespread feeling of uncertainty about what the future holds undoubtedly leaked in to the corporate travel market.
“The results of our survey, however, indicate that caution in business travel was short-lived and budgets and growth appear to be healthier than ever. In fact, some commentators have even suggested corporate travel may do better than other industries, as companies invest more in travel to explore alternative trade avenues outside of Europe following the Brexit vote.”
The Business Travel Show will take place at Olympia London from February 21 to 22, 2018.