Table of Contents
Introduction
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- Definition
- Abbreviations
Executive Summary
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- The market
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- Figure 1: Volume forecast of business travel (overseas & domestic), 2006-16
- Figure 2: Value forecast of business travel (overseas & domestic), 2006-16
- Overseas trend positive…
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- Figure 3: Trend in year on year quarterly overseas business travel volume, Q1 2009-Q1 2011
- …as is domestic
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- Figure 4: Trend in year on year monthly domestic business travel volume, May 2010-May 2011
- TMCs succeed
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- Figure 5: GTMC business travel transactions, 2006-10
- Market factors
- Business confidence stronger
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- Figure 6: ICAEW UK Business Confidence Monitor, Q3 2007-Q2 2011
- Exports and destinations
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- Figure 7: UK export performance, 2005-10
- Low comparative volume, high comparative value
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- Figure 8: Overseas and domestic travel volumes, by purpose, 2010
- Companies, brands and innovation
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- Figure 9: Top 10 TMCs (Travel Management Companies) in the UK by gross sales, 2010
- Innovations
- The consumer
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- Figure 10: Business travel in the last 12 months, 2006-11
- Rail rise
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- Figure 11: Business travel mode used, 2010 vs 2011
- Choice, ‘bleisure’ and budget constraints
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- Figure 12: Selected attitudes towards business travel, 2011
- What we think
Issues in the Market
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- What will rising flight prices mean for business travel?
- What can operators do to adapt to the growing older working population?
- Will international rail travel continue to prove attractive for business travellers?
- How can operators best capture the ‘bleisure’ (business plus leisure) pound?
Future Opportunities
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- Trend: Prepare for the Worst
- Trend: Retired for Hire
Internal Market Environment
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- Key points
- Transactions up
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- Figure 13: GTMC business travel transactions, 2006-10
- Rail’s continued rise
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- Figure 14: Frequency of rail use for work/business, 2010
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- Figure 15: Oil, diesel and petrol prices, Jan 2009-May 2011
- Flying along…
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- Figure 16: Trips undertaken by air, by purpose, 2010
- Figure 17: Number of trips undertaken by air, by purpose, 2010
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- Figure 18: Trends in number of business trips taken in the last 12 months, 2007-10
- … but climbing costs could further boost trains
- Car hire has harder ride
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- Figure 19: Frequency of car hire for business use, 2010
- Hotel business
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- Figure 20: Frequency of stay in hotels for business, 2010
- To travel or not?
Broader Market Environment
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- Key points
- GDP growth and consumer confidence struggle
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- Figure 21: GDP quarterly percentage change, Q1 2006-Q2 2011
- Figure 22: GFK NOP Consumer Confidence Index, January 1988-July 2011
- Business outpaces consumer
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- Figure 23: ICAEW UK Business Confidence Monitor, Q3 2007-Q2 2011
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- Figure 24: Employment and unemployment, by gender, 2006-16
- Export growth since 2005
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- Figure 25: UK export performance, 2005-10
- Figure 26: Top ten UK visible export markets and popularity for business travel, 2009-10
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- Figure 27: Annual average exchange rates for sterling, 2007-11
- Ageing – but not retiring?
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- Figure 28: Trends in the age structure of the UK population, 2006-16
- Figure 29: Forecast adult population trends, by lifestage, 2006-16
- ABs, internet and smartphones
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- Figure 30: Forecast adult population trends, by socio-economic group, 2006-16
- Figure 31: Broadband penetration, by demographics, 2004-10
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- Figure 32: Trends in mobile phone features owned and used, 2005-10
Competitive Context
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- Key points
- Holidays, VFR then business
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- Figure 33: Overseas and domestic travel volumes and expenditure, by purpose, 2010
- ‘Staycations’ sustained
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- Figure 34: Domestic travel volumes, by purpose, 2005-10
- Down to 12% of overseas trips
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- Figure 35: Overseas travel volumes, by purpose, 2005-10
Who's Innovating?
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- Key points
- Egencia joins app race
- Travel providers improve business offer…
- …as do accommodation providers
- Online – social, specific and free
- Non-economy perks
- Long-haul low cost expansion looms
Market Size and Forecast
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- Key points
- Domestic and overseas segments suffer
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- Figure 36: Business travel market, by volume, 2006-16
- UK average spend falls, overseas average spend grows
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- Figure 37: Business travel market, by value, 2006-16
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- Figure 38: Year on year percentage change, volume vs value of domestic business travel, 2007-10
- Figure 39: Year on year percentage change, volume vs value of overseas business travel, 2007-10
- 2011 business
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- Figure 40: Year on year quarterly overseas business travel volume trends, Q1 2009 – Q2 2011
- Figure 41: Trend in year on year quarterly overseas business travel volume, Q1 2009 – Q2 2011
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- Figure 42: Year on year monthly domestic business travel volume trends, May 2010-April 2011
- Figure 43: Trend in year on year monthly domestic business travel volume, May 2010-April 2011
- Forecast
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- Figure 44: Volume forecast of business travel (overseas & domestic), 2006-16
- Figure 45: Value forecast of business travel (overseas & domestic), 2006-16
- Figure 46: Volume forecast of domestic business travel, 2006-16
- Figure 47: Value forecast of domestic business travel, 2006-16
- Figure 48: Volume forecast of overseas business travel, 2006-16
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- Figure 49: Value forecast of overseas business travel, 2006-16
- Forecast methodology
Segment Performance
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- Key points
- European business
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- Figure 50: Overseas business travel volume, by destination area, 2005-10
- Figure 51: Overseas business travel expenditure*, by destination area, 2005-10
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- Figure 52: Overseas business travel – average spend per trip*, by destination area, 2005-10
- Figure 53: Overseas business travel volume, by duration of trip and percentage share of market, 2005-10
- Ease of access
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- Figure 54: Overseas business travel volume, top 20 destinations and percentage share of total overseas business travel market, 2005-10
- Figure 55: Overseas business travel volume, by travel mode and percentage share of market, 2005-10
- Car top in UK, but falling faster than rail
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- Figure 56: Domestic business travel volume, by travel mode and percentage share of market, 2006-09
- Three in four are hotel stays in UK
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- Figure 57: Domestic business travel volume, by accommodation type and percentage share of market, 2006-09
- Domestic short stays increase
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- Figure 58: Domestic business travel volume, by length of stay and percentage share of market, 2006-09
Market Share
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- Key points
- CWT takes top spot
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- Figure 59: Top 20 Travel Management Companies in the UK by gross sales, 2007-10
Companies and Products
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- American Express Business Travel
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- Figure 60: Key financials and performance indicators, American Express, 2009-10
- ATPI
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- Figure 61: Key financials, ATPI Limited, 2009-10
- BCD Travel
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- Figure 62: Key financials, BCD UK Ltd, 2008-09
- Carlson Wagonlit Travel
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- Figure 63: Key financials, Carlson Wagonlit UK Ltd, 2009-10
- Egencia
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- Figure 64: Key financials, Egencia, 2008-09
- Expotel
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- Figure 65: Key financials, Expotel Hotel Reservations, 2009-10
- FCm Travel Solutions
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- Figure 66: Key financials, Flight Centre, 2009-10
- Hillgate Travel
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- Figure 67: Key financials, Hillgate Travel, 2008-09
- Hogg Robinson Group (HRG)
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- Figure 68: Key financials, Hogg Robinson Group Plc, 2010-11
- Portman Travel
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- Figure 69: Key financials, Portman Travel Ltd, 2008-09
The Business Traveller
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- Key points
- Business travel bounce
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- Figure 70: Business travel in the last 12 months, 2006-11
- Males more likely
- The business traveller
Business Travel Modes
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- Key points
- Rail use continues to grow
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- Figure 71: Business travel modes, 2008-11
- Cost of travel
- Male bias
Business Travel Booking Methods
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- Key points
- Online on the up
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- Figure 72: Business travel booking methods, 2010-11
- Direct booking drops
- Companies and overseas
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- Figure 73: Business travel booking methods by type of business travel undertaken in the last 12 months, May 2011
Attitudes Towards Business Travel
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- Key points
- Little change year on year
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- Figure 74: Attitudes towards business travel, 2010-11
- Planes, trains and automobiles
- ‘Bleisure’ travellers
- Cost-saving continues, but some reasons for cheer
- Green growth?
- Attitudes abroad
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- Figure 75: Attitudes towards business travel by domestic and overseas trips in the last 12 months, May 2011
Targeting Opportunities
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- Key points
- Target groups
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- Figure 76: Business target groups, May 2011
- Heavy Travellers
- Demographic profile
- Marketing message
- Domestic Business
- Demographic profile
- Marketing message
- Home and Away
- Demographic profile
- Marketing message
Appendix – Internal Market Environment
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- Figure 77: Trends in mobile phone features owned and used, 2005-10
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Appendix – Market Size and Forecast
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- Figure 78: Total business travel market volume and forecast, best and worst case scenarios, 2011-16
- Figure 79: Total business travel market value and forecast, best and worst case scenarios, 2011-16
- Figure 80: Domestic business travel market volume and forecast, best and worst case scenarios, 2011-16
- Figure 81: Domestic business travel market value and forecast, best and worst case scenarios, 2011-16
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- Figure 82: Overseas business travel market volume and forecast, best and worst case scenarios, 2011-16
- Figure 83: Overseas business travel market value and forecast, best and worst case scenarios, 2011-16
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Appendix – The Business Traveller
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- Figure 84: Most popular business travel in the last 12 months, by demographics, May 2011
- Figure 85: Next most popular business travel in the last 12 months, by demographics, May 2011
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- Figure 86: Other business travel in the last 12 months, by demographics, May 2011
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Appendix – Business Travel Modes
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- Figure 87: Business travel modes, by most popular business travel in the last 12 months, May 2011
- Figure 88: Business travel modes, by next most popular business travel in the last 12 months, May 2011
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- Figure 89: Business travel modes, by other business travel in the last 12 months, May 2011
- Figure 90: Most popular business travel modes, by demographics, May 2011
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- Figure 91: Next most popular business travel modes, by demographics, May 2011
- Figure 92: Other business travel modes, by demographics, May 2011
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Appendix – Business Travel Booking Methods
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- Figure 93: Business travel booking methods, by most popular business travel in the last 12 months, May 2011
- Figure 94: Business travel booking methods, by next most popular business travel in the last 12 months, May 2011
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- Figure 95: Business travel booking methods, by other business travel in the last 12 months, May 2011
- Figure 96: Business travel booking methods, by most popular business travel modes, May 2011
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- Figure 97: Business travel booking methods, by next most popular business travel modes, May 2011
- Figure 98: Business travel booking methods, by other business travel modes, May 2011
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- Figure 99: Business travel booking methods, by demographics, May 2011
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Appendix – Attitudes Towards Business Travel
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- Figure 100: Attitudes towards business travel, by most popular business travel in the last 12 months, May 2011
- Figure 101: Attitudes towards business travel, by next most popular business travel in the last 12 months, May 2011
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- Figure 102: Attitudes towards business travel, by other business travel in the last 12 months, May 2011
- Figure 103: Attitudes towards business travel, by most popular business travel modes, May 2011
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- Figure 104: Attitudes towards business travel, by next most popular business travel modes, May 2011
- Figure 105: Attitudes towards business travel, by other business travel modes, May 2011
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- Figure 106: Attitudes towards business travel, by business travel booking methods, May 2011
- Figure 107: Most popular attitudes towards business travel, by demographics, May 2011
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- Figure 108: Next most popular attitudes towards business travel, by demographics, May 2011
- Figure 109: Most popular attitudes towards business travel, by demographics, May 2011
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Appendix – Targeting Opportunities
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- Figure 110: Attitudes towards business travel, by target groups, May 2011
- Figure 111: Business travel in the last 12 months, by target groups, May 2011
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- Figure 112: Business travel modes, by target groups, May 2011
- Figure 113: Business travel booking methods, by target groups, May 2011
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- Figure 114: Target groups, by demographics, May 2011
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