Brexit forces prices up for UK corporate travel buyers

UK business travel buyers are facing higher prices thanks to Brexit. A Business Travel Show poll has revealed that prices have already increased for 16% of corporate travel buyers in Britain. This compares to just 6% across continental Europe.

A total of 178 travel buyers – 61% of whom work in the UK – were asked: “What impact will Brexit have on client confidence and buying behaviours?” 11% of buyers in mainland Europe are playing the waiting game and holding off from investing in travel. This compares to just 4% in the UK. Some 80% of British buyers believe it’s a case of ‘business as usual, slightly fewer than the 83% in the rest of Europe.

Poll results

  % across Europe % across UK % across continental Europe
Business as usual

 

81% 80% 83%
We are holding off from investing in travel

 

8% 4% 11%
Our prices have increased

 

10% 16% 6%
Our prices have decreased

 

0% 0% 0%

The Business Travel Show is hosting a panel session on Brexit next month to help buyers understand what it could mean for their travel programme. Panellists include:

  • Rohitesh Dhawan, director – Brexit Global Centre of Excellence, KPMG
  • Mark Cuschieri, chairman, Institute of Travel Management
  • Mark Tanzer, chief executive, ABTA

Rosy Burnie, travel advisor and former Global HQ office manager at Luvata said: “Currently, it’s business as usual. The world is bigger than Brexit. However, the uncertainty means that future investment projects go on hold.”

Shaun Hinds, managing director, EMEA & APAC, Bridge Street Apartments added: “The extended stay sector was built on, among other things, projects as a mainstay of its customer base. Brexit is the biggest project we are likely to see in a generation and so can only be an opportunity – some reports cite up to 30,000 jobs being required to deliver Brexit. The chief Brexit officers and their teams will need somewhere to stay.”

David Chapple, event director, Business Travel Show, concluded by saying: “The UK’s decision to leave the EU has created many questions about the future, and corporate travel is no exception. Our panel of thought leaders will spell out potential changes to prepare for, both for travel managers based in the UK and those whose companies visit on business.”

Martin Fullard

Author

Martin Fullard

Martin Fullard: journalist, presenter, producer. Martin is the Deputy Editor at Conference News and Conference & Meetings World magazines. He leads the digital channels on Mash Media’s Conference Division as well as heading up Mash TV. He is formerly a web editor at a national newspaper in the Middle East and motoring journalist.

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