Recent research carried out by the Guild of Travel Management Companies (GTMC), the leading professional body representing the UK’s travel management companies, has discovered that Britain’s business community is getting back to making business trips.
The GTMC found that, with 38 of its members, there were 4.5 million business travel transactions made in the second quarter of 2013 in total; 8% more than the same period in 2012.
This healthy rise is a complete turnaround from the first quarter of 2013 when there was a 4% fall year-on-year. Perhaps more importantly, it is a heartening indication of the growing confidence the UK’s business community has in the economic recovery.
Paul Wait, the GTMC’s chief executive, believes this growth in confidence in the business community is key to a sustained, healthy economic recovery.
He claimed that both business travel and the state of the economy in the UK are inextricably linked with each one affecting the other. His main emphasis was on the perception of business travel as an investment rather than an expense with many of the GTMC’s members seeing travel as a way to propel growth and prosperity in the UK. For evidence of this, the GMTC Quarterly Review now has two new charts which analyse stock markets and entrepreneurialism in relation to business travel.
Protecting business travel investments with business travel insurance
More business trips will undoubtedly mean more business travel insurance policies being taken out. Such news will be met warmly by business travel insurers, such as Allianz Global Assistance business travel insurance, who deliver fantastic policies that help businesses to protect the precious investment of business travel.
In a fast-paced, hectic business life, organising business travel insurance may be the last thing that is thought of when taking a business trip. However, business travel insurance not only safeguards against the unexpected but makes for an effective business trip that is as successful as it is fruitful.
Business trips take the businessperson out of their comfort zone, albeit for a short time, and opens up a world of uncertainties. Having business travel insurance helps give peace of mind where this is concerned and leaves the businessperson free of worry and able to get the best out of themselves and the trip.
With GTMC members finding the total number of business travel arrangements growing from 8.76 million to 8.92 million in the first 6 months of 2013 (up 1.9% year-on-year), an end to the economic gloom of the last several years may well have truly arrived.
As Paul Wait said:
“Britain is about to get back to business. It is getting back to business travel too – and not before time.”