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NBTA Survey Reflects Slight Growth in Travel

Business Home Internet The National Business Travel Association (NBTA) has released the results of its 2004 mid-year survey, confirming recent indicators of recovery in the travel industry and underscoring the value corporate travel managers bring to their companies.

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Business Mlm Opportunity More than 60 percent of travel managers surveyed said that their companies are spending more on travel in 2004 than in 2003, indicating a level of recovery in the travel industry, said NBTA President and CEO Carol A. Devine, CCTE. More than three-quarters of those reporting higher travel spend indicated increases of 10 percent or less, showing that corporate travel managers are mitigating price increases and containing costs for their companies.

The DfT report also found that light van traffic is continuing to grow faster than overall traffic. Small van traffic rose 4.6% from 2006 to 2007. "This reflects the growth of the service economy although we would expect this growth to slow in the current economic climate, " said Edward King, president of the AA, quoted in the Times. Business travel, Car, Van.

Based Business Home Income Travel manager respondents expect prices in each segment of the industry to rise slightly for the remainder of 2004. Nearly 70 percent of respondents foresee increases in air travel prices. Nearly three quarters said that hotel rates will increase. Almost 60 percent expect car rental prices to rise. More than 65 percent said meetings & conventions costs will grow.

Survey Shows Group Travel Growth "The PhoCusWright " Market Opportunity Redefined" survey identifies the groups and meetings market as one of the key competitive areas for online travel that will represent $175 billion by 2008...The group travel market is an untapped market because most group travelers don't recognize that they're part of a group and don't take advantage of the discounts and services they qualify for, according to Mike Stacey, CEO of Groople, an online group travel site"

Based Business Home Internet At the same time, the volume of corporate travel purchased is growing. More than 70 percent of corporate travel managers expect their companies to use a higher number of hotel room nights in 2004 than last year. Nearly one in five indicated they are responding to changes in the hotel industry by increasing the number of meetings.

A survey designed to discover "the problems small businesses face" was unveiled by the Federation of Small Businesses (FSB) yesterday. Lifting the Barriers to Growth 2006 showed that crime, overly bureaucratic government regulations and a shortage of skills were the main factors small companies felt were inhibiting their business growth. Over half of the survey's respondents said they had been victim to a crime and that they had been forced to spend more time working through red tape, while over a quarter revealed that they were struggling to find staff with the skills they required.

Business Homebased Opportunity Travel is one of the top three controllable costs corporations incur, and travel managers are proving their importance by managing expenditures as travel costs and travel volume increase, said Devine. As the industry continues to recover, demand and pricing will continue to grow, and having a professionally managed travel program will become even more important.

According to the survey, small travel and tourism businesses said the average summer vacation lasts one to two weeks (52 percent). Businesses surveyed also noted that families (56 percent) next largest was retired couples at 19 percent. In addition, small travel and tourism business owners revealed that while summer (48 percent) and winter (23 percent) are their busiest seasons, fall and spring ranked as having the greatest impact for 15 percent and 14 percent, respectively, of businesses.

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