Two-thirds of UK companies plan to increase spending on business travel by at least 50 per cent over the next year, according to research from corporate card company American Express. A survey of business leaders and travellers also found that 42 per cent of SMEs were looking to take more business trips in the next 12 months.
More than 80 per cent of companies believed that travel played a key role in increasing revenue, with 60 per cent planning to expand around the UK and 35 per cent wanting to enter new international markets.
Hana Lear, vice president, corporate, UK card services at American Express, said: “Businesses had no choice but to press pause on a lot of travel over the last two years and lean on virtual alternatives to build relationships with customers and colleagues. “Our research shows that business travel and the value of in-person connections in driving growth go hand in hand. “However, there’s clearly a renewed focus on the entire business travel experience to ensure both companies and employees maximise the value of trips.”
Part of the increase in travel is coming from the need to connect remote teams following the pandemic, with 73 per cent saying this was now a major reason for business travel and one-fifth already doing more to bring their teams together.
Other trends included the rise of “bleisure” travel post-Covid, with 31 per cent of employees bringing their partner or a family member on a business trip.
Most companies (79 per cent) have also increased their focus on traveller wellbeing when on the road, which is just as well because this is becoming more important for employees – 71 per cent said they would leave their job if their employer did not prioritise their wellbeing during trips.
Sustainability is becoming a bigger issue for travellers with 71 per cent worrying about the environmental impact of their trips and 78 per cent becoming more conscious of their carbon footprint when on the road. Around one-third of companies would like their business travel to be “greener” but are not sure how to achieve this.
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