GTMC Announces Increase in Business Travel Spending

The Guild of Travel Management Companies, a UK-based professional association for travel companies, has announced an increase in business travel transactions in the first quarter of 2012, compared to the first quarter of 2011.

Business travel transactions have registered a growth of 6 percent during the first three months of the year, according to the Association’s report.

Total transactions made by GTMC members were 4.93 million for the quarter ending on March 31, 2012, from 4.66 million transactions for the same period in 2011.

Flight and hotel reservations have increased by 1 percent and 3 percent respectively, in the 2012 first quarter compared to 2011 first quarter. Rail has reported a growth of 14 percent, while car rentals have increased by 10 percent in the 2012 first quarter, compared to the same period in 2011. The other categories of consultancy services, ferries, visas, currency exchange, and meet & greet services, have also registered a growth of 10 percent in the 2012 first quarter.

Transactions through the association members are up by 4 percent to 16.4 million for the year ending in March 2012, compared with 15.7 million for the earlier year.

The association chief executive officer, Anne Godfrey, said, ‘This is the strongest performance for 12 months. Air transactions – in line with BSP (Billing and Settlement Plan) figures – remain flat although sales and average transactions values are both up. These first quarter figures are solid if unspectacular. However they contrast with trends in leisure travel and recent GDP data, which hints at a double dip recession. Is business travel bucking the trend?’