19-06-2020

Business travel optimism begins to grow

Business travel optimism begins to grow - C&M Travel Recruitment
Half of all business travel companies plan to resume domestic trips with the next three months, according to a new poll.

A total of 49 per cent intend to travel domestically with work in the near future, with one in five (22 per cent) also planning to resume business travel overseas.

Encouragingly, the number of companies allowing some essential travel has also increased from 37 per cent last month to 44 per cent in June.

The results were found in a new study by the Global Business Travel Association (GBTA) which found that four in ten (40 per cent) suppliers felt more optimistic than in the previous week, which was up from 28 per cent in the last poll. Only one in ten (10 per cent) felt increasingly pessimistic about the business travel outlook.

Almost half (46 per cent) of all travel suppliers and travel management companies reported an increase in bookings over the previous week.

However, a third of companies (31 per cent) believe that the worst is yet to come in terms of business travel job layoffs or furloughs, with 34 per cent expecting revenue losses to escalate.

Speaking about the findings, Scott Solombrino, Chief Executive Officer at GBTA, said: "For the first time since the start of the pandemic, supplier members are starting to see some uplift in bookings. This positive trend is supported by the slight increase in member companies looking to restart travel in the short term (one to three months).

"To continue this trend there is strong support from GBTA member companies who want consistent health and safety measures for every travel vertical. This is critical, and GBTA has been lobbying intensely on behalf of members, we have already seen great collaborative progress in the hotel and airline sectors."

In other news, the latest statistics from The Recruitment and Employment Confederation (REC) show that the number of jobs listed across the UK has begun to rise.

During the first week of June, 112,000 new jobs were advertised, which was up 64 per cent from the previous week.

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