The GTMC’s membership accounts for over 80 per cent of UK expenditure on managed business travel. The quarterly survey monitors a range of services offered by travel management companies and highlights trends in the business travel sector. The 2014 first quarter comparison against 2013 also revealed that ‘other’ services (ie: consultancy services, ferries, visas, currency exchange and meet and greet, etc.) grew more strongly than any other category between January and March, recording a huge 78 per cent increase year on year.
January to March 2014 saw hotel sales rise by 12 per cent when compared to the same quarter last year; rail saw a ten per cent increase year on year and car hire increased 17 per cent.
GTMC chief executive Paul Wait commented: “The results from the GTMC’s first quarter transaction survey of 2014 are very positive, proving yet again that business travel continues to go from strength to strength, with a significant and surprising increase in business travel add-ons. Business air transactions also continue to rise as business confidence increases and the Chancellor’s recent about turn on APD is part of that. Increased business travel is good news for UK plc, and I’m optimistic that the pace of growth will continue to increase. It’s an exciting time for our sector and a good opportunity for TMC’s to continue to demonstrate their worth.”
However with the economy growing at its fastest rate since 2007, the UK’s Gross Domestic Product (GDP) is increasing at a slightly greater rate than air volumes suggesting that purchasing managers are cautiously increasing their travel spend.
Representing a diverse range of travel management companies – from global companies to small independent specialists and top regional agencies – the Guild of Travel Management Companies (GTMC) is the voice of business travel and acts to lobby those who have an impact on the business travel community, together with promoting the activities of its members as the best in quality and value to the business traveller.