Signs of 'mild recovery" in business travel: Ascend
Ascend released (01-Mar-2010) its third annual Corporate Travel Survey, finding signs of a mild recovery in the aviation market. The survey respondents:
- Expected a 7.7% increase in the number of business flights planned over 2010 and a 7.6% increase in air travel business budgets;
- 35% of respondents expect to fly more for business and 28% expect an increase in air travel budgets (compared to 10% and 9%, respectively, in 2009 survey);
- 13% expect a decrease in flights, compared to 45% in 2009;
- Only 20% expect a decrease in budgets, compared to 54% in 2009;
- 16% from Europe and 9% from North America expect the number of flights to decrease;
- 27% from Europe and 15% from North America expect a decrease in air travel budgets.
More use of travel agencies:
- An increase in numbers using travel agencies to find better deals: 36% from 29% last year;
- A decrease in numbers using the internet to find cheaper fares: 40% from 48% last year;
- Fewer companies planning to reduce number of staff travelling to conferences: 37% from 55% last year. [more]
Ascend: “A recovery – if only a weak one – is in the air, as both budgets and the number of business flights look set to increase over the next 12 months. Not surprisingly, the sentiment in North America is more positive overall than in Europe, reflecting trends in the wider economies of those regions,” Peter Morris, Chief Economist. Source: Ascend, 01-Mar-2010.