One third of European travel buyers will have bigger travel budgets in 2019, according to a survey.
The annual survey, by the Business Travel Show, found 33% of buyers have larger budgets this year, though this was down on 40% in 2018. Around a half (53%) will have the same budget and 15% will have smaller budgets, compared to 12% in 2018.
For 43% of buyers travel costs have increased in 2019, compared with 47% in 2018. A tenth (10%) have seen a reduction in costs and for 47% they have stayed the same.
A third of buyers (33%) are managing more trips, 14% fewer and for half (53%) it has remained the same.
In terms of airline spending, 31% of buyers have got a bigger budget, 16% have a smaller budget and for 52% it has stayed the same.
For accommodation, 29% have a larger budget, 14% a smaller one and for 56% it has remained the same.
In 2018, half of buyers (49%) had larger accommodation and air travel budgets compared with 2017.
David Chapple, Business Travel Show group event director, commented: “The wobble shown by these results may reflect the uncertainty and dent in confidence the industry is currently experiencing in the light of Brexit. 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.”
The Business Travel Show’s annual survey assesses the business travel market through a poll of 134 European buyers.
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