23-26 INDUSTRY agents 2/12/08 15:13 Page 25
industry report – overview 25
agents: sector growth
“This may be different since the dramatic events of
September 15 when Lehmans collapsed but I would 1:7. In which sector have you seen the biggest increase in
hope people are still bullish.” bookings in the past 12 months ?
In terms of travel habits, almost half of respondents air 2007: 60% 2008: 41%
had been affected “slightly” by companies reducing rail 2007: 13% 2008: 27%
their business travel costs, with 11% stating they had hotel 2007: 22% 2008 : 20%
been “significantly” affected. Of the measures put in ancillaries 2007: 5% 2008: 12%
place to curb travel expenditure, the highest number of
responses (51%) were from downgrading travel and 1:8. In which sector do you expect to see the biggest
hotel accommodation (1:4). Just 7% of respondents said ALMOST increase in bookings in the next 12 months?
their clients had put a complete travel freeze in place.
HALF OF
air 2007: 55% 2008: 41%
Vandersluys said: “I would agree that the downgrading rail 2007: 13% 2008: 29%
of class of travel is becoming universal and this may be
RESPONDENTS
hotel 2007: 24% 2008: 15%
something that we will just have to get used to. TMCs, in
HAD BEEN
ancillaries 2007: 8% 2008: 15%
particular, can help a great deal in enforcing policy but
also in being creative in how this issue is approached so
AFFECTED
that it is not perceived as a stick but more as a way of
“SLIGHTLY”
agents: regional activity
contributing to a client company's general wellness in the
BY COMPANIES
sense of stemming the leakage in budgets.”
Unsurprisingly, the sector in which agents have seen
REDUCING THEIR
1:9. Which region are the majority of your bookings to?
travel within the UK 21%
the biggest downturn is banking and finance, with a BUSINESS North America 16%
drop of 29% (1:5). This is followed by SMEs (20%),
TRAVEL COSTS
Latin America 16%
manufacturing (9%) and IT (4%). Western Europe 26%
Turner said: “CWT has clients across a broad spectrum Eastern Europe/Russia 5%
of industry sectors. We have looked for trends across Middle East 3%
these sectors but it becomes clear very quickly that each India 1%
individual client within their sector is responding to the Asia Pacific 7%
needs of their own business circumstances and this Africa 2%
means that some are travelling more, some less.” Australasia 3%
Vandersluys added: “The way that stockmarkets are
bouncing back each day after they dive is an indication 1:10. Which region have you seen the biggest increase in
that there are still economic peaks as well as troughs bookings to in the past 12 months?
and, even in a general downturn, certain sectors will travel within the UK 26%
remain buoyant.” North America 11%
Half of agents felt that the economic downturn Latin America 1%
would last up to a year, with 39% predicting it could Western Europe 12%
last longer. Just 11% expected it to last between three Eastern Europe/Russia 16%
to six months (1:6). Considering that this survey was Middle East 10%
conducted over the summer and into the severe India 10%
downturn from September/October onwards, the Asia Pacific 10%
results are broadly in line with the general consensus Africa 2%
from economic forecasters that the UK will experience Australasia 2%
recession for about a year.
1:11. Which region do you expect to see the biggest
1.5. RESPONDENTS FELT THAT THE DOWNTURN WAS MOST
increase in bookings to in the next 12 months?
PRONOUNCED IN THE BANKING AND FINANCE SECTOR
travel within the UK 21%
4%
North America 8%
■ IT Latin America 1%
■ Manufacturing Western Europe 11%
9%
■ banking and finance Eastern Europe/Russia 13%
■ SMEs Middle East 12%
38%
■ other India 12%
Asia Pacific 17%
29%
Africa 2%
Australasia 3%
20%
ttgbusiness.com ❖ industry report 2008
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56