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industry report – overview 23
Sector overview:
the only way is up
Despite the inevitable downturn in sectors such as banking and finance, most respondents are
predicting an increase in bookings along with a tendency to downgrade travel and accomodation
he amount of business travel booked by
T
THE agents: state of the market
agents in the past 12 months has increased,
according to 58% of respondents (1:1). Just
DOWNGRADING
1:1. Has the amount of business travel you have booked
21% said bookings had either decreased or
OF CLASS OF
increased or decreased in the past year?
stayed the same. But what is especially good
TRAVEL IS
increased 2007: 86% 2008: 58%
news for the sector is that – despite the economic doom decreased 2007: 14% 2008: 21%
and gloom – more than half of respondents said they
BECOMING
stayed the same 21%
expected their bookings to increase in 2009 – with just
UNIVERSAL
18% predicting bookings would fall (1:2) 1:2. In the next year, do you expect to see
Carlson Wagonlit Travel’s director of public sector and business travel increase or decrease?
industry affairs, Nigel Turner, said CWT had been increase 2007: 82% 2008: 51%
braced for an economic downturn for the past 18 decrease 2007: 3% 2008: 18%
months. “It has been fairly slow to affect the business stay the same 2007: 15% 2008: 31%
travel industry,” said Turner. “This unpredictability
makes forecasting more difficult, whilst we expect to 1:3. Have you been affected by companies
grow our total business next year, we do anticipate a reducing their business travel costs?
decline in demand from our base business.” yes, significantly 11%
Fiona Vandersluys, global sales and marketing yes, slightly 48%
director at Chambers Travel, remarked that most no 41%
respondents had booked an increased amount of travel
and foresaw that continuing. 1:4. If yes, by what methods are they doing this?
However, like Turner, she sounded a note of caution: travel freeze 7%
essential-travel-only policies 24%
downgrading class of travel/accommodation 51%
1.1 and 1.2. WHEN ASKED ABOUT THE STATE OF THE MARKET RESPONDENTS FELT
greater use of virtual/videoconferencing 11%
THAT BOOKINGS LEVELS WOULD CONTINUE TO INCREASE OVER THE NEXT YEAR
other 7%
PRESENT FUTURE 1:5. In which industry sector is this downturn most
pronounced?
IT 4%
21%
manufacturing 9%
banking and finance 29%
31%
SMEs 20%
other 38%
51%
21%
58%
1:6. How long do you expect this situation to last?
18%
3-6 months 11%
6 months to 1 year 50%
1 year+ 39%
■ Increased ■ Decreased ■ Stayed the same
ttgbusiness.com ❖ industry report 2008
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