Press releases
Bookings through travel management companies increase
Online bookings still number one method for business travellers
Although over half (51%) of business travel is booked via the web, new research from Barclaycard Business shows that the amount of bookings made through travel management companies (TMCs) rose to 41% in 2005/6, up 9% on the previous year.
The 2005/6 Barclaycard Business Travel Survey, in conjunction with The Future Foundation, predicts that the number of people booking online will continue to increase, reaching approximately 70% by 2015.
Furthermore, the number of professionals who are required under company policy to book business travel online is forecasted to grow from 28% in 2004 to approximately 50% by 2015.
However, a ceiling on this growth is expected after ten years as a proportion of needs will continue to be met by travel management companies. The combination of longer, less frequent trips and an increased desire for premium travel will ensure the services of TMCs will continue to be required during the next ten years.
Respondents were also asked how far in advance they book their business travel on average. The results were:
- Over 1 month (9%)
- 2 - 4 weeks (18%)
- 1 - 2 weeks (34%)
- 1 - 6 days (31%)
- Less than 24 hours (3%)
- Purchase on departure / arrival (4%)
- Not stated (1%)
When business travellers choose to book their tickets in advance they are more likely to be able to purchase discounted tickets. Currently one in three business travellers (33%) choose discounted tickets compared to 21% who choose fully flexible.
Tim Carlier of Barclaycard Business comments, "The popularity of the internet is undeniable, however it will never replace the traditional travel management company as it cannot match the level of service. Today's professionals are time poor and need to tailor business trips to meet their individual needs. Thanks to the advances in business travel booking, they can choose whether to deal-seek online or utilise the expertise of the TMC whilst also being able to choose from a variety of ticket types."
When asked how the majority of travel was booked in 2005/6:
- 37% self-book online
- 31% have an external travel management company
- 14% use an intranet facility
- 10% use an internal business travel agent
- 2% buy direct on day of travel
