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Business Traveller - UK - July 2017

"The business travel market is facing uncertain times. The Pound is weak and inflation has risen since the UK voted to leave the EU. Companies will be looking to cut back on unnecessary spending, which opens the door for premium economy options in accommodation and travel. It also opens the door for companies that can incentivise business travellers to be clever with their spending, in a similar fashion to the RocketTrip app.”
– Fergal McGivney, Travel Analyst

This Report looks at the following areas:

  • British Airways steering clear of budget strategies 
  • The move towards premium economy can help save money while still maintaining employee satisfaction 
  • The sharing economy is turning its attention towards business accommodation

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Table of contents

  1. Overview

    • What you need to know
      • Scope of this Report
      • Executive Summary

          • The market
            • Companies expected to cut back on business trips
              • Domestic has suffered a sharp decline but Brexit worries may boost domestic travel
                • Figure 1: Forecast volume of domestic business trips taken by UK residents, 2011-22
              • Companies likely to cut back on overseas trip expenditure
                • Figure 2: Forecast volume of overseas business trips taken by UK residents, 2011-22
              • The consumer
                • Two in five employees have been on a business trip
                  • Figure 3: Business trips taken, May 2017
                • British Airways steering clear of budget carrier strategies
                  • Figure 4: Transport methods for business trips, May 2016
                • Companies looking to cut costs opt for premium economy
                  • Figure 5: Transport classes travelled, May 2017
                • Budget accommodation brands favoured for business travel
                  • Figure 6: Accommodation used on business trip, May 2017
                • The sharing economy is turning its attention towards business accommodation
                  • Figure 7: Business travel behaviours, willingness to use Airbnb for business travel, May 2017
                • The majority of 16-34-year-old business travellers often forget to claim expenses
                  • Figure 8: Business travel behaviours, May 2017
                • Younger employees likely to respond well to ‘bleisure’ privileges over traditional workplace rewards
                  • What we think
                  • Issues and Insights

                    • British Airways steering clear of budget strategies
                      • The facts
                        • The implications
                          • The move towards premium economy can help save money while still maintaining employee satisfaction
                            • The facts
                              • The implications
                                • The sharing economy is turning its attention towards business accommodation
                                  • The facts
                                    • The implications
                                    • The Market – What You Need to Know

                                      • Total volume of business trips negatively affected by Brexit and the weak pound
                                        • However, employees believe that business trips are better for their company than conference calls
                                          • Domestic business travel has suffered a sharp decline
                                            • Companies likely to cut back on overseas trip expenditure
                                            • Market Size and Forecast

                                              • Companies expected to cut back on business trips
                                                • Figure 9: Total (domestic and overseas) volume and value of business trips taken by UK residents, 2011-22
                                                • Figure 10: Business travel attitudes, May 2017
                                                • Figure 11: Forecast volume of total (domestic and overseas) business trips taken by UK residents, 2011-22
                                                • Figure 12: Forecast value of total (domestic and overseas) business trips taken by UK residents, 2011-22
                                              • Domestic business travel has suffered a sharp decline
                                                • Figure 13: Volume and value of domestic business trips taken by UK residents, 2011-22
                                                • Figure 14: Forecast volume of domestic business trips taken by UK residents, 2011-22
                                                • Figure 15: Forecast value of domestic business trips taken by UK residents, 2011-22
                                              • Companies likely to cut back on overseas trip expenditure
                                                • Figure 16: Volume and value of overseas business trips taken by UK residents, 2011-22
                                                • Figure 17: Forecast volume of overseas business trips taken by UK residents, 2011-22
                                                • Figure 18: Forecast value* of overseas business trips taken by UK residents, 2011-22
                                              • Over a third of business travellers say their companies have cut back since the Brexit vote
                                                • Figure 19: Business travel attitudes, May 2017
                                              • Forecast methodology
                                              • Segment Performance

                                                • Businesses cut back on spending following the Brexit vote
                                                  • Figure 20: Business visits by quarter, 2015-16
                                                • Economic recovery in Spain fuels growth in business travel
                                                  • Figure 21: Volume of overseas business trips taken by UK residents, by top 10 countries visited, 2015 and 2016
                                                • Overseas segment – Access to the European Common Aviation Area needs to be addressed in Brexit talks
                                                  • Overseas segment – Denied Boarding Regulation could be called into question
                                                  • Market Background

                                                    • The weak Pound – Positives and negatives for businesses
                                                      • Figure 22: Pound sterling vs the US Dollar and Euro, 1 June 2016-26 July 2017
                                                      • Figure 23: Pound sterling vs the Japanese Yen, 1 June 2016-26 July 2017
                                                      • Figure 24: Pound sterling vs the Swiss Franc, 1 June 2016-26 July 2017
                                                    • UK overseas trading – Weak Pound hurts imports but benefits exports
                                                      • Figure 25: UK top 10 trading partners, value of imports at current prices, 2014-15
                                                      • Figure 26: UK top 10 trading partners, value of exports at current prices, 2014-15
                                                    • New EU data roaming laws makes phone bills cheaper for travellers
                                                      • Low oil prices should help keep airfares low
                                                        • Figure 27: Europe Brent Spot Price FOB* (Dollars per Barrel), May 2012-May 2017
                                                    • Launch Activity and Innovation

                                                      • Angie – Voice based guestroom technology
                                                        • Figure 28: Angie – The voice controlled interactive guest room assistant, June 2017
                                                      • Claire automates corporate travel arrangements via messaging services
                                                        • Figure 29: Claire, a corporate travel management app by 30SecondsToFly, June 2017
                                                      • Airbnb launch its new Business Travel Ready service
                                                        • RocketTrip incentivises business travellers to choose cheaper options
                                                        • The Consumer – What You Need to Know

                                                          • Two in five employees have been on a business trip
                                                            • Most business travellers go on 1-4 trips per year
                                                              • More female employees are going on domestic business trips
                                                                • Rising rail fares presents opportunism for domestic budget carriers
                                                                  • Companies looking to cut costs opt for premium economy
                                                                    • Budget accommodation brands favoured for business travel
                                                                      • The sharing economy is turning its attention towards business accommodation
                                                                      • Business Trips Taken

                                                                        • Two in five employees have been on a business trip
                                                                          • Figure 30: Business trips taken, May 2017
                                                                        • Rising rail fairs put a strain on business travel expenses
                                                                          • Figure 31: Business trips taken, May 2017
                                                                        • Most business travellers go on 1-4 trips per year
                                                                          • Figure 32: Frequency of business trips taken in the UK, May 2016
                                                                      • Profile of the Business Traveller

                                                                        • More female employees are going on domestic business trips…
                                                                          • Figure 33: Business trips taken by UK employees, by gender, May 2017
                                                                        • …but gender gap in business travel is still prevalent
                                                                          • Figure 34: Gender composition of business travellers, May 2017
                                                                        • 25-34s are most likely to travel domestically and overseas for business
                                                                          • Figure 35: Business trips taken by UK employees, by age group, May 2017
                                                                        • Demographic composition of the business traveller
                                                                          • Figure 36: Age composition of business travellers, May 2017
                                                                          • Figure 37: Business traveller’s household income, May 2017
                                                                      • Control Over Business Travel Bookings

                                                                        • Most business trips are self-booked
                                                                            • Figure 38: Business trip bookings, May 2017
                                                                        • Business Travel Transport

                                                                          • British Airways steering clear of budget carrier strategies
                                                                              • Figure 39: Transport methods for business trips, May 2016
                                                                            • easyJet aims to give passengers a luxury option at Luton
                                                                              • Figure 40: Volume of overseas business trips taken by UK residents, by transport method, 2012-16
                                                                            • Companies looking to cut costs opt for premium economy
                                                                              • Figure 41: Transport classes travelled, May 2017
                                                                              • Figure 42: Price difference for a flight from London Heathrow to New York on Tuesday 18 July 2017, by Economy, Premium Economy, and Business Class
                                                                              • Figure 43: British Airways Premium Economy vs Ryanair Business Plus
                                                                              • Figure 44: A comparison between Premium Economy on a Boeing 787-9, full-service carrier British Airways versus low-cost long-haul carrier Norwegian, May 2017
                                                                          • Accommodation Used for Business Travel

                                                                            • Budget accommodation brands favoured for business travel
                                                                              • Figure 45: Accommodation used on business trip, May 2017
                                                                            • Premier Inn is the most popular accommodation brand for business travellers
                                                                              • Figure 46: Usage of Premier Inn for business trips, domestic vs overseas, May 2017
                                                                            • Holiday Inn can position itself as an affordable upscale option
                                                                              • Figure 47: Usage of Holiday Inn for business trips, domestic vs overseas, May 2017
                                                                            • Hilton most popular for overseas travel
                                                                              • Figure 48: Usage of Hilton for business trips, domestic vs overseas, May 2017
                                                                            • Travelodge aims to move away from its ‘motorway image’
                                                                              • Figure 49: Usage of Travelodge for business trips, domestic vs overseas, May 2017
                                                                            • Marriott aims to boost reputation with the launch of Moxy
                                                                              • Figure 50: Usage of Marriott for business trips, domestic vs overseas, May 2017
                                                                          • Business Travel Behaviour

                                                                            • The sharing economy is turning its attention towards business accommodation
                                                                              • Figure 51: Business travel behaviours, willingness to use Airbnb for business travel, May 2107
                                                                            • The majority of 16-34-year-old business travellers often forget to claim expenses
                                                                              • Figure 52: Business travel behaviours, May 2017
                                                                            • Younger employees likely to respond well to ‘bleisure’ privileges over traditional workplace rewards
                                                                              • Most business travellers are put off by security entering the US
                                                                              • Appendix – Data Sources, Abbreviations and Supporting Information

                                                                                  • Abbreviations
                                                                                    • Consumer research methodology
                                                                                    • Appendix – Market Size and Forecast

                                                                                      • Forecast methodology
                                                                                          • Figure 53: Best- and worst-case forecast for total business travel volume (domestic and overseas), 2017-22
                                                                                          • Figure 54: Best- and worst-case forecast for total business travel value (domestic and overseas), 2017-22
                                                                                          • Figure 55: Best- and worst-case forecast for domestic business travel volume, 2017-22
                                                                                          • Figure 56: Best- and worst-case forecast for domestic business travel value, 2017-22
                                                                                          • Figure 57: Best- and worst-case forecast for overseas business travel volume, 2017-22
                                                                                          • Figure 58: Best- and worst-case forecast for overseas business travel value, 2017-22

                                                                                      Companies Covered

                                                                                      To learn more about the companies covered in this report please contact us.

                                                                                      Business Traveller - UK - July 2017

                                                                                      US $2,672.70 (Excl.Tax)