Table of Contents
Issues in the Market
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- Key issues
- Definitions
- Abbreviations
Future Opportunities
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- Gender agenda
- ‘Bleisure’ travel
Market in Brief
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- Recession hits business travel hardest...
- ...but rail travel bucks the trend
- Cautious recovery – but not business as usual
- Long-haul (but not US) more resilient
- Mixing business and pleasure
- TMCs adapt to survive
Internal Market Environment
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- Key points
- Decline in air travel transactions
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- Figure 1: GTMC business travel transactions, 2006-09
- Rail transactions defy downturn
- Volatility at the pump
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- Figure 2: Unleaded 95 Octane price per litre (pence) – UK average, August 2009-July 2010
- High Speed Two planned
- Quarter of fliers go on business
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- Figure 3: Trips undertaken by air, by purpose, 2009
- Figure 4: Number of trips undertaken by air, by purpose, 2009
- Frequency of rail use
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- Figure 5: Frequency of rail use for work/business, 2009
- Frequency of car hire
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- Figure 6: Frequency of car hire for business use, 2009
- Frequency of hotel stay
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- Figure 7: Frequency of stay in hotels for business, 2009
- Virtual travel boosted by recession
- Security issues
Broader Market Environment
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- Key points
- Economy back in growth but doubts remain
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- Figure 8: GDP, PDI, consumer expenditure and savings, at current prices, 2005-15
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- Figure 9: GfK NOP Consumer Confidence Index, July 2009-June 2010
- Business confidence picking up
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- Figure 10: ICAEW UK Business Confidence Monitor, Q3 2007-Q2 2010
- Visible exports rise
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- Figure 11: UK export performance, 2005-09
- eurozone risks
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- Figure 12: Top ten UK visible export markets, 2009
- Future AB growth to boost business travel
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- Figure 13: Forecast adult population trends, by socio-economic group, 2005-15
- Ageing business travellers
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- Figure 14: Trends in the age structure of the UK population, 2005-15
- Eight in ten ABC1s have broadband
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- Figure 15: Broadband penetration, by demographics, 2004-09
- TMC advantages
- Pound stays weak
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- Figure 16: Sterling exchange rates against currencies used in leading business travel destinations at 13 July each year, 2005-10
Competitive Context
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- Key points
- Niche but high-value market
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- Figure 17: Overseas and domestic travel volumes and expenditure, by purpose, 2009
- Domestic holiday bounce
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- Figure 18: Domestic travel volumes, by purpose, 2005-09
- Business travel suffers the most
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- Figure 19: Overseas travel volumes, by purpose, 2005-09
Strengths and Weaknesses in the Market
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- Strengths
- Weaknesses
Who’s Innovating?
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- Key points
- Making rail booking easier
- Premium economy alternatives
- Greening business travel
- Business travel networking
- On the move
Market Size and Forecast
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- Key points
- Business travel volume
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- Figure 20: Business travel market, by volume, 2005-15
- Business travel spend
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- Figure 21: Business travel market, by value, 2005-15
- Future – gradual pick-up
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- Figure 22: Year-on-year quarterly overseas business travel volume trends, 2009 and 2010
- The new normal
Segment Performance
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- Key points
- Europe and North America bear the brunt of recession
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- Figure 23: Overseas business travel volume – trips, by destination area, 2005-09
- Figure 24: Overseas business travel – expenditure, by destination area, 2005-09
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- Figure 25: Overseas business travel – average spend per trip, by destination area, 2005-09
- France and Germany account for a quarter of trips
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- Figure 26: Overseas business travel volume, top 20 destinations and percentage share of overseas business travel market, 2005-09
- China, India and UAE lead rest of world
- Move towards longer stays
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- Figure 27: Overseas business travel volume, by duration of trip and percentage share of market, 2005-09
- Shift from air to Tunnel...
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- Figure 28: Overseas business travel volume, by travel mode and percentage share of market, 2005-09
- ...but destinations restricted
- New rail horizons
- Domestic business travel segmentation
- Three in ten trips are to London/South East
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- Figure 29: Estimated regional share of UK business trips, by destination, 2009
Market Share
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- Key points
- Big three still dominant
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- Figure 30: Top 20 TMCs in the UK, by gross sales, 2007-09
- Supply structure altered little by recession
Companies and Products
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- American Express Business Travel (Amex BT)
- BCD Travel
- Carlson Wagonlit Travel (CWT)
- Egencia
- FCm Travel Solutions
- Hogg Robinson Group (HRG)
- Portman Travel
Who Travels on Business?
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- Key points
- A third have travelled on business
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- Figure 31: Types of business trips taken in the last 12 months, 2006-10
- Conference decline
- Gender gap
- AB peak
Business Transport
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- Key points
- Modal shift from plane to train
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- Figure 32: Modes of travel used for business trips in the last 12 months, April 2008 and May 2010
- ABs go economy
Booking Business Trips
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- Key points
- Online channels dominate
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- Figure 33: Business trip booking methods, May 2010
- Below the radar
Attitudes Towards Business Travel
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- Key points
- Desire for control
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- Figure 34: Attitudes towards business travel, May 2010
- Trading down impacts hotels primarily
- Train is now most popular mode
- No-frills combination
- ‘Bleisure’ travellers
- Behavioural changes
- Green concerns slip down business agenda
Targeting Opportunities
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- Key points
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- Figure 35: Business travel target groups, May 2010
- Frequent fliers
- Budget focused
- On a shoestring
Appendix – Who Travels on Business?
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- Figure 36: Most popular types of business trips taken in the last 12 months, by demographics, May 2010
- Figure 37: Next most popular types of business trips taken in the last 12 months, by demographics, May 2010
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Appendix – Business Transport
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- Figure 38: Modes of travel used for business trips in the last 12 months, by most popular types of business trips taken in the last 12 months, May 2010
- Figure 39: Modes of travel used for business trips in the last 12 months, by next most popular types of business trips taken in the last 12 months, May 2010
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- Figure 40: Most popular modes of travel used for business trips in the last 12 months, by demographics, May 2010
- Figure 41: Next most popular modes of travel used for business trips in the last 12 months, by demographics, May 2010
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Appendix – Booking Business Trips
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- Figure 42: Business trip booking methods, by most popular types of business trips taken in the last 12 months, May 2010
- Figure 43: Business trip booking methods, by next most popular types of business trips taken in the last 12 months, May 2010
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- Figure 44: Business trip booking methods, by most popular modes of travel used for business trips in the last 12 months, May 2010
- Figure 45: Business trip booking methods, by next most popular modes of travel used for business trips in the last 12 months, May 2010
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- Figure 46: Most popular business trip booking methods, by demographics, May 2010
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Appendix – Attitudes Towards Business Travel
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- Figure 47: Attitudes towards business travel, by most popular types of business trips taken in the last 12 months, May 2010
- Figure 48: Attitudes towards business travel, by next most popular types of business trips taken in the last 12 months, May 2010
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- Figure 49: Attitudes towards business travel, by most popular modes of travel used for business trips in the last 12 months, May 2010
- Figure 50: Attitudes towards business travel, by next most popular modes of travel used for business trips in the last 12 months, May 2010
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- Figure 51: Attitudes towards business travel, by most popular business trip booking methods, May 2010
- Figure 52: Most popular attitudes towards business travel, by demographics, May 2010
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- Figure 53: Next most popular attitudes towards business travel, by demographics, May 2010
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Appendix – Targeting Opportunities
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- Figure 54: Attitudes towards business travel, by target groups, May 2010
- Figure 55: Types of business trips taken in the last 12 months, by target groups, May 2010
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- Figure 56: Modes of travel used for business trips in the last 12 months, by target groups, May 2010
- Figure 57: Business trip booking methods, by target groups, May 2010
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- Figure 58: Target groups, by demographics, May 2010
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