Infographic: Travel managers expected to book more travel with the same budget
9 Mar 2018 - by Sue van Winsen
Corporate travel managers may find themselves in an impossible situation this year, according to the results of a recent Travel & Meetings Buyer survey.
A total of 200 corporate travel buyers and bookers were asked how big their travel budget for 2018 was compared with last year. The majority (42%) said their budget would remain the same, while 38% expected an increase and 20% a decrease.
Despite this, most respondents (61%) expected to see more business travel by their company this year, while just 23% thought levels would remain steady and 16% predicted a decrease.
Making conditions even more tricky, the vast majority of respondents (85%) said they expected overall travel costs to rise in 2018. Essentially, this means that corporate travel buyers will have less money at their disposal, yet will have to make it go further than before, putting the pressure on to negotiate extremely effectively.
When looking at the various business travel suppliers, respondents felt that accommodation was the most likely to up rates, with 80% predicting an increase, followed by car rental with 76%, and airlines with 70% anticipating price hikes.