Travel buyers expecting bigger budgets in 2020

7 January 2020

The number of travel buyers forecasting bigger budgets for the year ahead has hit a five-year high, according to a survey.

The annual survey, by the Business Travel Show, found 41% of buyers said they would have more money to spend on travel in 2020, compared with 33% last year.

However, almost half of buyers (49%) expect an increase in travel costs, compared to 33% in 2019.

Travel budgets are expected to increase in all areas, including flights, accommodation and travel, found the survey, which polled 114 European travel buyers.

More than half (52%) expected to manage more trips in 2020, compared to 33% last year.

David Chapple, group event director at the Business Travel Show, said: “Last year’s survey showed a downturn in numbers across the board with fewer buyers predicting airline, accommodation and overall budget increases.

“This was unsurprising with Brexit on the horizon and businesses holding back on both decision-making and spending. 

“These figures appear to show a return to form and are back on par (if not slightly above) 2018’s statistics, which is very encouraging news for the industry.”

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