European buyers set to increase travel budgets in 2019

One-third of buyers will have bigger corporate travel budgets in 2019, according to research by the Business Travel Show.

Bigger travel budgets for 30 per cent of European buyers are expected this year according to research by the Business Travel Show. The poll of 134 European buyers also showed a slight increase in the number of budgets on the downturn – from 13 per cent in 2018 to 15 per cent this year. The show’s annual survey also revealed that fewer buyers will see a reduction in their accommodation budgets – 14 per cent compared to 24 per cent year-on-year, although there is a slight rise in buyers with less to spend on air travel – 16 per cent compared to 11 per cent.

One-third of buyers will have more trips to manage, significantly fewer than the 45 per cent last year. Plus there was a drop in the number who forecast an increase in travel costs – from 47 per cent last year to 43 per cent.

“The wobble shown by these results may reflect the uncertainty and dent in confidence the industry is currently experiencing in the light of Brexit,” said David Chapple, Business Travel Show group event director.

“Despite the EU agreeing to the Government’s plan to divorce, how Brexit will affect business travel for the UK and Europe is still very much conjecture and, unsurprisingly, organisations are remaining cautious about spend.”

Business travel forecast 2019

Travel budgets: One-third of buyers will have bigger corporate travel budgets in 2019, which is on par with 2017 but down from 40 per cent last year.

Accommodation Budgets: Fewer buyers will see a reduction in their accommodation budgets – 14 per cent compared to 24 per cent year-on-year.

Air Travel Budgets: There is a slight rise in the number of buyers with less to spend on air travel – 16 per cent compared to 11 per cent.

Trip Volumes: One-third of buyers will have more trips to manage, significantly fewer than the 45 per cent last year.

Travel Costs: The number of buyers who forecast an increase in travel costs dropped from 47 per cent last year to 43 per cent.