Business travel buyers believe travel budget will increase next year, survey finds

Business Travel Show Europe revealed through its latest survey that one in ten travel buyers in Europe expect their organization’s travel spending to increase in 2022 from levels in the pre-pandemic period in 2019.

Business travel buyers are the people responsible for hiring and contracting travel purchases for their business. As such, since travel involves much more than airline ticket purchases, including checks, hotel contracts, and other travel-related issues, business travel buyers plan to make the budget run smarter in 2022 and beyond, reports SchengenVisaInfo.com.

According to the survey, which had 313 participants, it was shown that the majority of companies were anticipating budget cuts. However, there were still a number of those who claimed that it would not be necessary to take such steps.

Currently, around 39 percent of travel buyers face budget cuts, which reach up to 50 percent, while 25 percent will have a reduced budget.

BTN Group’s executive vice president Louis Magliaro said everyone expected business travel spending to be hit hard by the COVID-19 pandemic. Nevertheless, according to Magliaro, it is very reassuring to know that 13% of buyers think their budget will increase or stay the same in 2022.

“A quarter of buyers said they felt pressured to cut costs. With over 150 suppliers exhibiting at the Business Travel Show Europe this year, and conference sessions highlighting how to negotiate with suppliers and more, the event will support buyers’ efforts to make budgets work smarter in 2022 and beyond. “, added Magliaro.

In addition, the same pointed out that it is very encouraging for the industry to know that approximately 25 percent of buyers believe their organization’s business travel will be 80 percent or more in the next two years. compared to the period before the pandemic. levels.

Previously, SchengenVisaInfo.com reported that a third of some 5,300 Europeans still did not feel safe traveling during the COVID-19 pandemic.

A survey by Oliver Wyman in nine major markets such as Germany, France, Spain, Italy and other non-EU countries found that although international and domestic travel has started to increase, the restrictions imposed in most countries are somehow stopping the travel activity.

As a result, the survey found that French respondents were the most interested in traveling again. In contrast, participants from other countries such as Spain, Germany and Italy showed less interest.

>> Explanation of travel restrictions in the EU in mid-September