Table of Contents
Executive Summary
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- The market
- Market volume down 7.4% in 2014
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- Figure 1: Total business travel market, by volume, 2009-19
- Figure 2: Total business travel market, by value, 2009-19
- Underperforming domestic segment will continue to depress wider market
- Market factors
- GTMC figures show transactions increased 2.7% in 2013
- In-flight Wi-Fi in Europe could become mainstream by 2016
- European roaming charges could be eliminated by 2015
- Ryanair and easyJet make moves to attract business travellers
- Lufthansa/Turkish Airlines deal could boost travel to the Far East
- Hybrid engines and telematics could defuse high pump prices
- Jet fuel price remains high but new plans boost fuel efficiency
- Rail fares have increased but investments and Wi-Fi could improve travel
- The consumer
- Penetration of overseas trips has grown, despite a contracting market
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- Figure 3: Business trips taken in the last 12 months, April 2013 and May 2014
- Use of flights has increased, while personal car use has fallen
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- Figure 4: Modes of travel used, April 2013 and May 2014
- 68% of overnight trips booked less than a month in advance
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- Figure 5: Booking lead time, May 2014
- Business travellers are twice as likely to have booked themselves
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- Figure 6: Booking method, May 2014
- Over two thirds of self-bookers paid using their own money
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- Figure 7: Payment method for personal booking, May 2014
- Online is the dominant channel for self-bookings
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- Figure 8: Booking channel for personal booking, May 2014
- The share of travel management companies is low
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- Figure 9: Booking channel for company booking, May 2014
- Networking opportunities provide support for the market
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- Figure 10: Attitudes towards business travel, May 2014
- Facilitating cashback and loyalty points would boost employee morale
- There is demand for gamification and rewards
- What we think
Issues and Insights
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- What is the future for business travel management companies?
- The facts
- The implications
- How is customer loyalty evolving in the business travel market?
- The facts
- The implications
Trend Application
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- Click and Connect
- Moral Brands
- Mintel futures: Generation Next
Market Drivers
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- Key points
- GTMC figures show transactions increased 2.7% in 2013
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- Figure 11: GTMC business travel transactions, 2008-13
- In-flight Wi-Fi in Europe could become mainstream by 2016
- European roaming charges could be eliminated by 2015
- Ryanair and easyJet make moves to attract business travellers
- Lufthansa/Turkish Airlines deal could boost travel to the Far East
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- Figure 12: Top 20 UK trade partners in 2013
- Hybrid engines and telematics could defuse high pump prices
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- Figure 13: Petrol and diesel pump price, January 2010-June 2014
- Jet fuel price remains high but new plans boost fuel efficiency
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- Figure 14: Jet fuel prices, Pound Sterling per gallon, January 2010-May 2014
- Rail fares have increased but investments and Wi-Fi could improve travel
- Sterling performs well against key business travel destination currencies
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- Figure 15: Index of Pound Sterling against key business travel destination currencies, January 2012-June 2014
Who’s Innovating?
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- Key points
- Rocketrip rewards employees for spending under budget
- Rocketmiles lets users earn air miles for hotel stays
- Odyssey and La Compagnie to launch business-only transatlantic services
- CWT and Amex use gamification to boost loyalty and compliance
Market Size and Forecast
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- Key points
- Market volume contracted an estimated 7.4% in 2014
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- Figure 16: Volume and value of business trips taken by UK residents, 2009-14
- Figure 17: Volume of business trips taken by UK residents, domestic vs overseas, 2009-14
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- Figure 18: Value of business trips taken by UK residents, domestic vs overseas, 2009-14
- Underperforming domestic segment will continue to depress wider market
- Fan charts
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- Figure 19: Total business travel market, by volume, 2009-19
- Figure 20: Total business travel market, by value, 2009-19
- Forecast methodology
Segment Performance
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- Key points
- Long-haul market has suffered a less marked decline
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- Figure 21: Volume of overseas business trips taken by UK residents, short-haul vs long-haul, 2008-13
- Overseas business trips by sea increased 8.2% in 2013
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- Figure 22: Volume of overseas business trips taken by UK residents, by transport method, 2008-13
- France retains its position as the most popular overseas destination
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- Figure 23: Top 10 overseas business travel destinations, by volume of trips taken, 2012 and 2013
- Netherlands and Spain were the worst-performing destinations in 2013
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- Figure 24: Best- and worst-performing overseas business travel destinations, by volume change, 2012 and 2013
- London and the South East cement their dominance of the domestic market
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- Figure 25: Volume of domestic business trips taken by UK residents, by region visited, 2008-13
Companies and Products
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- Carlson Wagonlit Travel
- Background
- Financial performance
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- Figure 26: Financial performance of Carlson Wagonlit UK Ltd, 2012 and 2013
- Recent updates
- Hogg Robinson Group
- Background
- Financial performance
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- Figure 27: Financial performance of Hogg Robinson Group PLC, 2013 and 2014
- Recent updates
- American Express Global Business Travel
- Background
- Financial performance
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- Figure 28: Financial performance of American Express Company, 2012 and 2013
- Recent updates
- Capita Travel and Events
- Background
- Financial performance
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- Figure 29: Financial performance of Capita Travel and Events, 2011 and 2012
- Recent updates
- BCD Travel
- Background
- Financial performance
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- Figure 30: Financial performance of BCD Travel UK Limited, 2012 and 2013
- Recent updates
The Consumer – Business Trips Taken in the Last 12 Months
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- Key points
- Penetration of overseas trips has grown, despite a contracting market
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- Figure 31: Business trips taken in the last 12 months, April 2013 and May 2014
- Market continues to be dominated by men, under-35s, ABs and Londoners
The Consumer – Modes of Travel Used
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- Key points
- Use of flights has increased, while personal car use has fallen
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- Figure 32: Modes of travel used, April 2013 and May 2014
- Improved fuel efficiency could see a resurgence in travel by car
The Consumer – Booking Lead Time
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- Key points
- 68% of overnight trips booked less than a month in advance
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- Figure 33: Booking lead time, May 2014
- One to two weeks is the most popular booking window for air travel
The Consumer – Booking Method
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- Key points
- Business travellers are twice as likely to have booked themselves
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- Figure 34: Booking method, May 2014
- Over two thirds of self-bookers paid using their own money
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- Figure 35: Payment method for personal booking, May 2014
- Online is the dominant channel for self-bookings
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- Figure 36: Booking channel for personal booking, May 2014
- The share of travel management companies is low
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- Figure 37: Booking channel for company booking, May 2014
The Consumer – Attitudes towards Business Travel
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- Key points
- Networking opportunities provide support for the market
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- Figure 38: Attitudes towards business travel, May 2014
- Facilitating cashback and loyalty points would boost employee morale
- Demand for gamification and rewards
- Travellers prefer to relax in transit
Appendix – Market Size and Forecast
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- Figure 39: Total business travel market, by volume, 2014-19
- Figure 40: Total business travel market, by value, 2014-19
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Appendix – The Consumer – Business Trips Taken in the Last 12 Months
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- Figure 41: Business trips taken in the last 12 months, May 2014
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- Figure 42: Business trips taken in the last 12 months, by demographics, May 2014
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- Figure 43: Business trips taken in the last 12 months, by demographics, May 2014 (continued)
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- Figure 44: Business trips taken in the last 12 months, by demographics, May 2014 (continued)
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Appendix – The Consumer – Modes of Travel Used
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- Figure 45: Modes of travel used, May 2014
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- Figure 46: Modes of travel used, by demographics, May 2014
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- Figure 47: Modes of travel used, by demographics, May 2014 (continued)
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- Figure 48: Modes of travel used, by demographics, May 2014 (continued)
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- Figure 49: Modes of travel used, by business trips taken in the last 12 months, May 2014
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- Figure 50: Modes of travel used, by business trips taken in the last 12 months, May 2014 (continued)
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- Figure 51: Modes of travel used, by booking lead time, May 2014
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Appendix – The Consumer – Booking Lead Time
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- Figure 52: Booking lead time, May 2014
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- Figure 53: Booking lead time – Any business trip, by demographics, May 2014
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- Figure 54: Booking lead time – Any business trip, by demographics, May 2014 (continued)
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- Figure 55: Booking lead time – Most recent day trip, by demographics, May 2014
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- Figure 56: Booking lead time – Most recent day trip, by demographics, May 2014 (continued)
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- Figure 57: Booking lead time – Most recent overnight trip, by demographics, May 2014
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- Figure 58: Booking lead time – Most recent overnight trip, by demographics, May 2014 (continued)
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Appendix – The Consumer – Booking Method
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- Figure 59: Booking method, May 2014
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- Figure 60: Booking method, by demographics, May 2014
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- Figure 61: Payment method for personal booking, May 2014
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- Figure 62: Payment method for personal booking, by demographics, May 2014
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- Figure 63: Booking channel for personal booking, May 2014
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- Figure 64: Booking channel for personal booking, by demographics, May 2014
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- Figure 65: Booking channel for company booking, May 2014
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Appendix – The Consumer – Attitudes towards Business Travel
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- Figure 66: Attitudes towards business travel, May 2014
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- Figure 67: Attitudes towards business travel, by demographics, May 2014
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- Figure 68: Attitudes towards business travel, by demographics, May 2014 (continued)
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- Figure 69: Attitudes towards business travel, by business trips taken in the last 12 months, May 2014
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- Figure 70: Attitudes towards business travel, by business trips taken in the last 12 months, May 2014 (continued)
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- Figure 71: Attitudes towards business travel, by modes of travel used, May 2014
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- Figure 72: Attitudes towards business travel, by modes of travel used, May 2014 (continued)
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- Figure 73: Attitudes towards business travel, by booking method, May 2014
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