This Key Note Market Update analyses the UK business travel industry, including business travel by UK residents both domestically and internationally, in addition to business travel to the UK by overseas residents. It evaluates the broad market trends and key current issues and drivers which are impacting upon the sector, in addition to examining the financial performance of the market both at present and looking ahead.
Overall, the combined value of the domestic, outbound and inbound business travel market in the UK grew by 11.1% between 2010 and 2014. Over this period, the value of inbound business travel grew by the greatest margin (24.5%), followed by domestic business travel (8.8%) and outbound business travel (0.9%).
In addition, the combined number of domestic, outbound and inbound business trips grew by 3.3% between 2010 and 2014, while the number of bed nights on such trips grew by 3.4%.
In addition to evaluating the financial performance of the business travel market, this report also looks at issues such as general travel trends, alterations to Air Passenger Duty (APD), visa relaxation, the scrapping of data roaming charges in the EU and the rise of technology, which in some instances is mitigating the need for face-to-face business travel meetings. This report also looks at upcoming issues that will impact upon the market, including the potential for airport expansion in the South East and the upcoming construction of high-speed rail lines, which will better connect the UK and offer...