London 'most popular destination in strengthening business travel market'

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Travel Management Companies (TMCs) are likely to see a growing number of customers inquiring about business trips to London, according to a new report.

A Business Travel Insights Report compiled by Heathrow Express has indicated that London is the world's most popular business travel destination in an increasingly healthy market, with the finance sector accounting for the biggest share of these trips, followed by lawyers and the energy sector.

Of the 2,424 corporate travellers surveyed, 85 per cent said they had taken a business trip to London, though other cities proved more popular when looking at specific sectors. Paris, for example, was highlighted as the number one business travel destination for journalists over the past 12 months.

The report also showed that the global business travel market is showing signs of health, with spending topping $1.3 trillion (£969.22 billion) in 2016. Although the sector has not fully recovered to the levels seen in 2007, 72 per cent of respondents said the number of international business trips they had taken was either the same or more than last year, rising to 75 per cent for domestic trips.

Conferences are the number one business trip generator, with 39 per cent of responders citing a conference as their reason for travelling, while the finance sector was the most travelled industry, accounting for 18 per cent of all trips.

Additionally, it was revealed that business travellers are becoming increasingly willing to spend their own money during their trips, including expenditure on accommodation, food and drink, attractions and transport.

Of particular note for TMCs was the fact that safety and efficiency were cited as the most important concerns for corporate travellers when making decisions on their transport and accommodation, suggesting these should be key areas of focus when designing services.

Are you looking to improve and automate your mid and back-office systems to capitalise on this trend? Then contact ProCon Solution now to find out how ProTAS can help accomplish this.

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