Tag: Business Travel Management

Choosing the Right Business Travel Agency in London

The demand for efficient and reliable business travel services is ever-increasing in London. For businesses, selecting the right travel management agency is crucial to ensuring seamless and cost-effective travel experiences. With numerous options available, how does one choose the perfect business travel agency?

This article will guide you through the essential factors to consider, helping you make an informed decision that will benefit your organisation in the long run.

Understanding your business travel needs

Before embarking on the search for a business travel agency, it is important to understand your company’s specific travel requirements.

Assessing travel frequency and volume

Consider the frequency and volume of travel your business undertakes. Agencies often specialise in handling different scales of operations, so identifying whether your company requires frequent travel arrangements or occasional bookings will narrow down your options.

Budget considerations

Understanding your budget constraints is vital. Business travel can be a significant expense, and selecting an agency that aligns with your financial parameters while offering quality service is essential.

Evaluating the services offered

Not all travel agencies offer the same range of services. It is crucial to assess what each agency provides and how those services align with your business needs.

24/7 support

Travel disruptions can occur at any time. Agencies provide 24/7 support to ensure that your employees have assistance whenever needed, minimising the impact of unexpected changes and ensuring continuity of business activities.

Travel policy compliance

Ensuring compliance with your company’s travel policies is crucial. Select an agency that can customise travel plans to adhere to your specific policies, providing you with control and oversight over travel arrangements.

Leveraging technology

In today’s digital age, technology plays a pivotal role in travel management. Agencies that leverage advanced technology can offer more efficient and user-friendly services.

Data analytics and reporting

Data-driven decision-making is key to optimising travel strategies. Choose an agency that offers robust analytics and reporting tools. These tools provide insights into travel patterns, expenditure, and policy compliance, enabling you to make informed decisions and improve travel efficiency.

Assessing reputation and reliability

The reputation and reliability of a travel agency are significant indicators of the quality of service you can expect.

Industry experience

Experience in the industry matters. Agencies with a long-standing presence and a track record of handling business travel for reputable clients are likely to offer dependable and proficient services.

Accreditation and memberships

Agencies accredited by recognised industry bodies and members of travel associations demonstrate a commitment to maintaining high standards. Accreditation can provide additional assurance of the agency’s credibility and professionalism.

Making the final decision

After a thorough evaluation, it’s time to make the final decision. Consider all the factors discussed, weigh the pros and cons, and select an agency that best meets your business needs.

Find a travel agency in London that’s right for you

Choosing the right business travel agency in London requires careful consideration of your travel needs, the services offered, the technology utilised, and the agency’s reputation. By taking a systematic approach, you can select a partner that will streamline your business travel, enhance efficiency, and control costs.

Speak to our team today to learn how we can provide tailored travel management solutions that meet your specific needs in London.

How do I choose a travel management company?

Choosing a travel management company (TMC) can significantly impact your organisation’s travel efficiency, cost-effectiveness, and overall traveller satisfaction. 

With numerous options available, identifying the right partner involves careful consideration and a thorough evaluation process. This guide outlines the essential factors to consider, so you can make an informed decision.

Understanding your travel needs

Before delving into the specifics of selecting a TMC, it is crucial to understand your organisation’s travel needs. Begin by analysing your current travel patterns and expenditures. Assess the volume of travel, common destinations, and the types of services frequently required. 

Identify any unique needs or preferences your organisation may have, such as sustainability goals or special accommodations. This foundational understanding will guide your evaluation process and help you identify a TMC that aligns with your requirements.

Evaluating industry experience and expertise

A key factor in choosing a TMC is their experience and expertise in the travel industry. Look for companies with a proven track record of managing corporate travel. Their longevity in the market often indicates reliability and stability. 

Furthermore, evaluate their expertise in handling travel for organisations similar to yours in size and industry. This expertise ensures that the TMC understands the specific challenges and requirements of your sector.

Technology and innovation

In today’s digital age, technology plays a pivotal role in travel management. Investigate the technological capabilities of prospective TMCs. Do they offer a user-friendly online booking platform? Additionally, consider their use of advanced technologies such as AI for personalised travel recommendations and data analytics for insightful travel reporting. 

A TMC that embraces innovation can streamline your travel processes and provide a seamless experience for your travellers.

Take the NDC (New Distribution Capability) software for example. Developed by the International Air Transport Association (IATA), NDC enhances communication between airlines and travel management companies, providing access to rich air content and offering more transparency when it comes to buying fares. 

By choosing a TMC with access to technology like NDC, you’ll experience a much smoother business travel experience because you can make informed decisions on fares based on what’s best for you and your business. 

When you choose a TMC with access to technology like NDC, you’ll experience a much smoother business travel experience because they can provide better last-minute travel disruption support and more transparency throughout your travel management journey.

Comprehensive service offerings

A reliable TMC should offer a wide range of services to meet all your travel needs. These services typically include booking flights, hotels, and ground transportation. However, the best TMCs go beyond basic offerings. They provide visa and consultation services on policies, travel risk and sustainability. 

Consider whether they offer 24/7 support to address any issues that may arise during travel. A comprehensive suite of services ensures that all aspects of your travel are efficiently managed under one roof.

Cost management and savings

Cost efficiency is a critical consideration for any organisation. When evaluating TMCs, scrutinise their ability to manage travel costs and deliver savings. Inquire about their relationships with airlines, hotels, and other travel service providers. Strong partnerships can translate to better rates and discounts for your organisation. 

Examine their fee structure. Transparent pricing without hidden costs is essential. A TMC that demonstrates a commitment to cost savings can significantly impact your travel budget.

Traveller safety and security

Traveller safety and security should be a top priority for any TMC. Investigate their protocols for managing travel risks and emergencies. Do they provide real-time updates on travel disruptions or security threats? Is there a dedicated team for emergency support? 

Furthermore, consider their ability to track travellers and communicate effectively during emergencies. A robust safety and security framework ensures the well-being of your travellers and minimises risks associated with corporate travel.

Customer service and support

Excellent customer service is a hallmark of a reputable TMC. Evaluate their responsiveness and availability. Can they provide round-the-clock support? How quickly do they resolve issues? 

Consider the quality of their customer service team. Are they knowledgeable and capable of handling complex travel requests? Superior customer service ensures that your travellers receive timely assistance and support, enhancing their overall travel experience.

Customisation and flexibility

Every organisation has unique travel requirements, and a one-size-fits-all approach may not be suitable. Assess the TMC’s ability to offer customised travel solutions tailored to your needs. Can they accommodate specific travel policies and preferences? 

Furthermore, evaluate their flexibility in adapting to changes in your travel requirements. A TMC that offers bespoke solutions and demonstrates flexibility can provide a more personalised and efficient travel management experience.

Reputation and references

Finally, consider the reputation of the TMC in the market. Research their client testimonials and case studies. Positive feedback from other organisations can provide valuable insights into their reliability and service quality. 

Additionally, request references from the TMC and speak to their existing clients. Direct feedback from other organisations can help you gauge their performance and client satisfaction.

Optimise your travel operations today

Choosing the right travel management company is a strategic decision that can enhance your organisation’s travel operations and traveller satisfaction. By understanding your travel needs, evaluating industry expertise, and considering factors such as technology, cost management, and customer service, you can identify a TMC that aligns with your objectives. Prioritising these aspects will ensure a successful partnership and a seamless travel experience for your organisation.

Beyond Booking Flights: Unveiling The Hidden Value Of A Small Business Travel Agency

In an environment where global operations are the norm, small business travel agencies are increasingly proving their worth beyond merely booking flights and hotels. These agencies, sometimes overshadowed by larger corporate players, offer a suite of invaluable services that cater specifically to the needs of small and medium-sized enterprises (SMEs). 

From cost management to emergency support and environmentally conscious practices, they provide a level of personalised service to small businesses that is often overlooked in the hustle of corporate travel management.

Cost Management: Maximising Value For SMEs

Typically, a small business travel agency excels in navigating the complexities of cost management for SMEs. Unlike large corporations with substantial travel budgets, SMEs need to maximise every penny spent on travel. These agencies leverage their expertise to secure competitive rates on flights, accommodation, and transportation, ensuring that every trip aligns with the client’s budgetary constraints without compromising on comfort or convenience. 

Being a part of global groups like ATG Travel provides access to discounted rates, making business trips more feasible and cost-effective for SMEs.

Convenient User Experiences: Tailored Solutions At Your Fingertips

One of the key advantages of small business travel agencies is their commitment to delivering convenient user experiences. Unlike online booking platforms that offer standardised solutions, these agencies provide personalised service that caters directly to the unique needs of their clients. 

From customised itineraries to round-the-clock support, they ensure a seamless travel experience from start to finish. This personalised approach not only saves time but also enhances productivity, allowing SMEs to focus on their core business objectives without the hassle of managing travel logistics.

Emergency Support: Ensuring Peace Of Mind

In the unpredictable realm of business travel, emergencies can arise at any moment. An agile small business travel agency recognises this reality and offers dedicated emergency support services to its clients. Whether it’s rebooking flights due to unforeseen circumstances or providing on-the-ground assistance during crises, these agencies act as a reliable lifeline for SMEs. 

Their prompt response and proactive problem-solving capabilities ensure that business travellers receive the assistance they need, regardless of the situation, minimising disruptions and safeguarding all interests, personal or business.

Carbon Footprint Tracking: Promoting Sustainability

With growing awareness of environmental sustainability, small business travel agencies are pioneering initiatives to track and mitigate the carbon footprint of business travel. By partnering with sustainable suppliers and offering carbon offset programmes, these agencies enable businesses of all sizes to make responsible choices when planning their travel itineraries.

This commitment to sustainability not only aligns with corporate social responsibility goals but also resonates with environmentally conscious clients who seek to reduce their environmental impact. Through innovative solutions and proactive measures, the average small business travel agency is paving the way towards a more sustainable future for business travel.

Embracing The Hidden Value

Small business travel agencies play a pivotal role in the realm of corporate travel management, offering far more than just flight bookings. Through its expertise in a number of areas, from emergency support to smoother user experiences, a small business travel agency can provide a lot of bang for their buck. 

By leveraging their personalised service and industry insights, they empower SMEs to navigate the complexities of business travel with ease, efficiency, and peace of mind. As the landscape of business travel continues to evolve, the hidden value of small business travel agencies becomes increasingly apparent, highlighting their essential role in supporting the growth and success of all kinds of businesses in a globalised economy.

At ACE Travel, we’ve worked with businesses of all sizes since 1992, helping them save money and have more productive business trips. Get in touch with the ACE team if you want to learn more about how we can optimise your business trips.

ACE Travel Management ATG UK named Employer of the Year at the London Chamber of Commerce SME London Business Awards 2024

We’re proud to announce that we have been awarded Employer of the Year at the prestigious London Chamber of Commerce SME London Business Awards 2024. 

With over three decades of experience, our dedication to employee growth and satisfaction has created an environment where team members across all levels flourish, develop skills, and deliver exemplary service to clients.

Sarah Wilson, our CEO here at ACE Travel Management, stated, “Being given this award is an incredible honour. It is a testament to the top-down commitment our leadership team has made to create a workplace where our employees are motivated, engaged, and empowered.” 

“This recognition reflects our unrelenting commitment to supporting our employees so they can, in turn, drive our business and service our clients at the highest levels.”

We attribute our recognition to industry-leading professional development programs, employee recognition initiatives, work-life balance policies, competitive benefits packages, and regular team-building activities that contribute to its supportive company culture.

The London Chamber of Commerce SME London Business Awards event was held on 8th February at the stunning Park Plaza London Riverbank. Our team enjoyed a wonderful night celebrating enterprises that have made significant contributions across various sectors to London’s economic landscape.

If you want to learn more about what we do here at ACE Travel Management, take a look at our story and values here. 

Business Travel Reporting: What to Expect

In today’s fast-paced business landscape, efficient travel management is crucial for companies. Managing business travel effectively involves more than just booking flights and accommodations; it requires comprehensive reporting and analytics to optimise expenses, improve traveller experience, and enhance decision-making. 

Streamlined expense reporting

One of the primary aspects of business travel reporting is expense management. A reputable travel management service will provide you with streamlined expense reporting tools that simplify the process for your employees. These tools typically include automated expense tracking, digital receipts, and integration with popular accounting software. By leveraging these features, you can ensure accurate expense reporting, reduce administrative burdens, and enable better financial planning.

Travel policy compliance tracking

Business travel reporting tools can monitor compliance by tracking preferred airlines, accommodation options, and maximum allowable expenses. These reports provide insights into policy adherence, enabling you to identify trends, address non-compliance issues, and refine your travel policies as necessary.

By analysing the compliance reports, you can identify any instances of policy violations or areas where the policies may need to be updated. This data-driven approach helps create a culture of compliance and supports efficient decision-making regarding travel policy improvements.

Traveller safety and risk management

A robust business travel management service offers reporting and analytics capabilities that focus on traveller safety and risk management. This includes providing real-time travel updates, emergency contact information, and access to traveller tracking. By analysing travel data, the service can identify potential risks, facilitate emergency response, and support duty of care obligations.

Through the reporting and analytics features, you can proactively assess any risks associated with travel. For instance, the service can provide real-time updates on travel advisories, security alerts, and weather conditions. By having access to such information, you can make informed decisions regarding travel plans and take necessary precautions.

Performance metrics and key performance indicators (KPIs)

A reliable travel management service can provide reports that analyse various KPIs, including travel spend, savings achieved, traveller satisfaction, and supplier performance. By measuring these metrics, you can identify areas for improvement, negotiate better contracts, and make data-driven decisions to enhance overall travel program performance.

These performance metrics and KPIs help you evaluate the effectiveness of your travel program and identify areas where cost savings can be achieved. For example, by analysing travel spend reports, you can identify patterns of excessive spending and take steps to address them. Furthermore, tracking traveller satisfaction metrics allows you to gauge the quality of the travel experience and make necessary adjustments to improve it.

Forecasting and budgeting

By analysing trends and patterns, you can anticipate costs, allocate budgets effectively, and align your travel program with the organisation’s financial goals.

By utilising the forecasting and budgeting features, you can project the anticipated costs for your business travel program. Historical travel data, combined with other relevant factors such as anticipated business growth and market conditions, can help you determine the appropriate budget allocation. This data-driven approach enables you to set realistic targets and allocate resources efficiently.

Data visualisation and dashboards

Visualising data is crucial for understanding complex travel information quickly. A comprehensive reporting and analytics service should offer user-friendly dashboards and data visualisation tools. These features allow you to view travel data in a visually appealing and easy-to-understand format. Through interactive charts, graphs, and maps, you can gain actionable insights, track performance, and identify trends effortlessly.

The data visualisation and dashboard capabilities provide an intuitive way to explore and interpret your travel data. By presenting the information in visually appealing formats, such as interactive charts or heatmaps, you can easily identify patterns and trends that might be hidden in raw data. This visual representation of data empowers you to make data-driven decisions more effectively.

Supplier negotiations and benchmarking

Business travel reporting tools often include benchmarking capabilities to compare your company’s travel spend and performance against industry standards. This data empowers you to negotiate better contracts with suppliers and identify potential cost-saving opportunities. By leveraging these insights, you can strengthen your supplier relationships, optimise your travel budget, and secure the best possible deals.

By accessing benchmarking reports, you can gauge how your company’s travel spend compares to industry averages. This information can be invaluable during negotiations with airlines, hotels, and other travel service providers. Armed with accurate benchmarking data, you can leverage your negotiating power and secure preferential rates or discounts, leading to cost savings for your business.

Business travel reporting and analytics is a non-negotiable

When choosing a business travel management service, robust reporting and analytics capabilities should be high on your priority list. The ability to access comprehensive reports, expense tracking, compliance monitoring, performance metrics, and data visualisation ensures that you have a clear understanding of your travel program’s effectiveness and can make informed decisions. By partnering with a reliable service, you can optimise your business travel, enhance traveller experience, and achieve significant cost savings while driving your organisation toward success.

If you want your business travels to be tracked and broken down, get in touch with travel consultants at ACE Travel to see what we can do for you.

Founder Sarah Wilson shares thoughts on LCCI Report: ‘Green skies – Supporting the Aviation Sector to Decarbonise’

London Chamber of Commerce has released its report: ‘Green skies – Supporting the Aviation Sector to Decarbonise’, and our very own founder Sarah Wilson has shared her insights.

The report highlights the contributions of the aviation industry to the local, London and national economies – as well as an insight into the efforts being made to decarbonise the sector, and the steps needed to further accelerate the transition to a more sustainable aviation industry.

“According to Sustainable Aviation, SAF can reduce lifecycle carbon emissions by at least 70% compared to fossil fuels. It presents an opportunity to start having an immediate impact on UK aviation emissions by the mid-2020s and reduce aviation emissions by at least 32% in 2050.”

As a leading business travel management company in the UK, ACE Travel Management is passionate about making travel more sustainable. We work closely with our clients to help make their travel programmes more environmentally responsible. Reports like this are valuable resources to gain new insight from and understand how stakeholders across the industry can help build a better future for travel.

Sarah Wilson offered her thoughts “Off-setting is all very well but we must now heed advice of the experts for the future of decarbonisation of travel, simply saying, don’t travel is not an option that is either desirable or economically viable”.


Dive into the report here.

Bleisure Travel: 10 Tips to Manage Compliance

Bleisure travel, the blending of business and leisure trips, has become a popular trend among employees. While it can be a great way for your staff to unwind and recharge during work-related travel, it also presents compliance challenges. 

Whether you are a small business owner booking travel or a key decision-maker within a larger corporation, in this guide we’ll explore how you can ensure your employees stay compliant with your company’s travel policy when embarking on bleisure trips. From navigating pre-travel processes to checking business travel insurance coverage, here are our top 10 tips to keep your staff safe and compliant when travelling.

1. Clear Travel Policy Communication

The foundation of compliance begins with a well-communicated travel policy. Make sure your business travel policy is comprehensive and clearly articulated. Ensure that your staff understands the policy’s nuances, especially as they pertain to bleisure travel. The document should address areas such as allowable expenses, reimbursement procedures, and compliance expectations. Even for small businesses, having a robust travel policy in place is crucial for bleisure travel success.

2. Pre-Travel Approval Process

Implement a pre-travel approval process specifically designed for bleisure trips. Ask employees to submit their travel itineraries in advance, clearly indicating the business and leisure segments. This allows you to review and approve their plans, ensuring that business obligations are not compromised and that leisure activities adhere to your policy.

3. Review Business Travel Insurance

Business travel insurance is a linchpin of bleisure travel compliance. It’s essential to review your company’s insurance policy to make sure it adequately covers bleisure travel scenarios. Pay particular attention to aspects such as coverage during leisure activities and liability concerns that may arise when employees mix business and leisure. Consider offering supplementary insurance for leisure activities that fall outside the policy’s scope.

4. Emphasise Compliance Benefits

Educate your employees about the benefits of compliance. Make it clear that adhering to the travel policy, even during bleisure trips, safeguards their interests. Compliance ensures they are covered in case of emergencies, reduces liability risks, and simplifies expense reporting and reimbursement procedures.

5. Documentation and Reporting

Stress the importance of thorough documentation and reporting. Encourage employees to maintain detailed travel logs that clearly delineate business-related activities from leisure ones. This documentation serves as valuable evidence of compliance and streamlines the reimbursement process.

6. Regular Compliance Audits

Implement periodic compliance audits to ensure that employees are adhering to the travel policy during bleisure trips. These audits can be random or scheduled, and can include expense report reviews and discussions with travellers about their experiences. Audits not only help identify areas of non-compliance, but also demonstrate your commitment to enforcing the policy.

7. Incentivise Compliance

Consider introducing incentives for compliance. Recognise and reward employees who consistently adhere to the travel policy during bleisure trips. This can be in the form of bonuses, extra annual leave days, or other perks. Incentives provide a positive reinforcement mechanism that encourages compliance.

8. Foster Open Communication

Promote a culture of open communication between employees and the travel management team. Encourage staff to discuss their bleisure travel plans and seek guidance when unsure about compliance matters. By fostering a transparent environment, you can address concerns and potential issues proactively.

9. Leverage Travel Management Software

Invest in travel management software that can facilitate compliance monitoring. These tools can help track expenses, generate reports, and provide insights into employee travel patterns. They streamline the process of ensuring that business objectives are met during bleisure trips. With the right technology, you can keep all your travel policy records in one secure, easy-to-access place.

10. Conduct Training and Workshops

Regularly conduct training and workshops on travel policy compliance. Equip your employees with the knowledge and resources they need to understand and adhere to the policy, especially in the context of bleisure travel. These sessions can clarify policy nuances and address any questions or concerns.

Finding the right balance

Bleisure travel can be a win-win for both your employees and your business. However, maintaining compliance is essential to mitigate risks and uphold company policies. By effectively communicating your travel policy, implementing approval processes, reviewing business travel insurance, and incentivising compliance, you can strike a balance between employee satisfaction and policy adherence. Regular audits, open communication, and the use of travel management software further enhance your ability to ensure compliance during bleisure trips. Ultimately, a well-managed bleisure travel program can boost employee morale and productivity while safeguarding your company’s interests.Want to discuss your business travel compliance with an expert? Contact us today and one of our friendly team members will be happy to help.

Travel Booking for Small Businesses: The Dos and Don’ts

In the world of small businesses, every expense matters, and that includes business travel. Managing travel bookings effectively can optimise your operations, maximise your budget, and streamline your travel policies. 

In this guide, we’ll explore the dos and don’ts of travel booking for small businesses, helping you make the most of your business journeys.

Do Consider More Sustainable Travel

Sustainability is no longer a buzzword; it’s a business imperative. When booking travel for your small business, think about the environmental impact:

Is there a way to combine multiple meetings within one trip? 

Frequent short trips can be costly and disruptive. Instead, consider consolidating travel into longer, more purposeful trips. This reduces travel-related expenses and minimises disruptions to your business operations.

Can travellers reach their destination via train instead of flying? 

Whilst the industry is making positive steps towards using sustainable aviation fuel (SAF), train travel is still the number one choice for eco-friendly transport. It’s often the more comfortable and convenient choice too, so do consider train travel when booking national and short-haul trips.

What sustainability policies does the hotel uphold? 

The accommodation your business travellers stay at is just as important as the transport you use to get them there. These days, most hotels will have clearly defined sustainability policies and best practices to help reduce their carbon footprint, so be sure to ask for these ahead of booking. 

Don’t Assume Your Staff Understand Your Travel Policies

Clear communication is key. Your travel policies may be well-documented, but don’t assume your staff knows them inside out. Ensure your employees are aware of your travel policies and understand their importance. Hold training sessions if needed and provide easily accessible policy documents.

Don’t Neglect Business Travel Compliance

Compliance with regulations and business travel policies is essential in mitigating risk, optimising costs and operations, and also for ensuring proper management of your business’ reputation. Non-compliance can lead to hefty fines and other legal issues, which can pose significant challenges, especially for small businesses.

To ensure compliance, be sure to research the latest rules and requirements for travel in the destination country, make your business travel policy easy to access for all travellers and get comprehensive coverage for business travel insurance. Travel always comes with its share of uncertainties. As such, it’s vital to have good business travel insurance in place to safeguard your business from unexpected disruptions and ensure your operations continue smoothly even when things go awry.

Do Create Clear Guidelines Around Bleisure Travel

Bleisure travel, combining business and leisure, is a growing trend. To manage it effectively, set clear guidelines. Define what is and isn’t permissible during bleisure trips to maintain professionalism while allowing employees to enjoy some downtime.

Don’t Forget About Traveller Well-being and Safety

Your employees’ well-being and safety should always be a top priority, especially as duty of care is a legal and moral obligation for all businesses. Incorporating safety measures into your travel policies ensures your staff are well-prepared for their journeys, keeping them safe but also protecting your business. Make sure to also provide resources to support your employees in case of emergencies.

Do Consider Partnering with a TMC (Travel Management Company)

Small businesses can benefit greatly from partnering with a reputable TMC that can offer expertise, cost-saving strategies, and technology solutions that simplify travel management and reduce expenses.

From travel booking systems to traveller dashboards, the digital tools that TMCs can provide are particularly effective at optimising travel booking for small businesses. These solutions help track expenses, ensure policy compliance, and provide insights that empower travel bookers to make informed decisions.

Travel with confidence

Efficient travel booking is crucial for small businesses looking to maximise budgets and streamline operations. By following the dos and don’ts outlined here, you can ensure your business travel is cost-effective, compliant, and safe. 

If you’d like to understand how to manage your small business travel booking, speak to our team today. We’re here to help you make the most of your business journeys.

3 Ways Business Travel Is Still Being Affected By 2020

From virtual meetings to remote work – it’s no surprise that the business travel landscape has changed dramatically in recent years.

As the industry continues to grow and evolve, so does the way we travel. Whilst this knock-on effect may at first seem negative, with higher average fare costs and fewer business travel opportunities – It’s important to look at the data and see what’s really going on in the world of business travel. 

Thanks to data recorded by the Advantage Travel Partnership, we can examine just how much business travel has changed in the past three years – including the steep rise in business travel fares. 

Here are three ways that business travel is still being affected by 2020:

Average transaction value

After a reduction in schedules in 2020, resulting in airlines retiring planes early and ending routes altogether in 2021, the return of travel has seen added costs for planes and new pilot training. This, along with the general rise in price for both necessities and energy, has resulted in steeper fares when it comes to business travel. This can be seen when we compare the average transaction value for the period 01 January 2023 to 31 May 2023 (£432.35) with the same 5-month period in 2022 (£298.47). This shows fares to be 44.9% higher in 2023, and 6.5% higher than the whole-year average for 2022 (£406.12)

It’s clear then, as a result of 2020, business travel fares are seeing a steep rise. But this isn’t the only interesting metric to arise from the study – we’re also seeing two key behavioural changes in businesses that stem directly from this increase.

Average advanced purchase

From the period of 01 January 2023 to 31 May 2023, we have seen an average advanced purchase of 31.6 days, exceeding the 2019 total average by 8.2 days. This means that, as travellers take heed of getting better prices by booking in advance, they are starting to optimise their travel programmes. Gaining lower fares and guaranteed places for hotels and transfers. 

Average trip duration

As well as the increase in average advanced purchases, we are also experiencing higher average trip duration. In fact, the average trip duration has increased by 15.6% since last year alone, seeing an all-time high of 8.2 days. This is due to businesses being more purposeful with their travel – exchanging one-meeting trips for longer trips that better suit their business strategies. 

What does this mean?

The driving force of these changes comes from business travellers realising the potential of more purposeful travel. By booking early and staying longer, business trips can be optimised. Hosting several meetings across the duration of one trip can generate higher ROI, drive cost efficiency and, overall, balance out the costs of higher fares. Best of all – optimising travel in this way can see some wonderful benefits to sustainability practices overall. 

Business travel has seen many changes as a result of 2020

From rising business travel fares, higher advance purchases and longer average trip durations, it is clear that the travel industry is still seeing significant effects from 2020. However, we are also seeing companies become more efficient with their business travel programmes. Data shows that we’re saying goodbye to single-meeting trips, and leaving last-minute planning in the past. 

Amongst the many uncertainties that the future of travel may bring, one thing is for certain – becoming more purposeful in our planning is the future. Empowering us all to be more sustainable, cost-effective, and overall more in control of our travel strategies.

If you have further questions or want to learn more about purposeful travel, get in touch with our team.