Business travel 'restoring in confidence'
Business travel may not see a full recovery to pre-recession levels any time soon – but it will get “close” – that is the cautiously optimistic prediction from Mike Sherrard, managing director, Centaur Travel Group, organisers of the Business Travel Show Middle East, which is set to take place in Dubai next month.
“From my perspective, it’s difficult to see a full return to the halcyon days gone by where First/Business Class travel seats were always full,” said Sherrard. “Indeed airlines have recognised this by reconfiguring their aircrafts’ layouts. However, I am a born optimist, and I believe we will get close.”
While companies slashed their business travel budgets by up to 40 percent in 2009, this year has seen a slight loosening of the purse strings – a trend which is set to continue as corporates emerge from the grips of recession.
He added that business travel was returning to growth as corporates recognised the value of face to face meetings.
“In my view business is always better conducted face-to-face as human interaction produces stronger commercial bonds and lasting business transactions.
Trust and belief is much enhanced, and products better illustrated, injecting customer confidence and hence enhanced retention - old school beliefs perhaps, but in this light I do expect to see steady growth back to, or at least, close to pre-recession levels.”
According to Sherrard the general trend is of an “industry restoring confidence”. There was graphic evidence of this following the Business Travel and Meetings Show held in London in February, he said.
“There were many more exhibitors at the event than in 2009, and audience figures showed a healthy increase. Most importantly, exhibitors reported that visitors to the show had increased budgets and were more ready to spend – a significant difference to post-show reports in 2009 when confidence - and travel budgets – was a scarcity.”
However, Sherrard warned that it was still too early to measure the true pace of recovery of the business travel market following the recession.
“The speed of this recovery can only be judged on an individual basis, and there is no definitive trend data available at present to back up the anecdotal impressions given by the travel management buyers.”
Business travel show middle East
The Business Travel Show Middle East (BTSME) brings together the leading suppliers of business travel solutions and the high-spending buyers of the Middle East.
Airlines, travel management companies, hotels and accommodation groups, ground transportation and technology suppliers will find a platform to meet professionals who buy and arrange business travel and meetings - including PAs, managers and company directors from SMEs and larger corporations from across the trade and industry spectrum.
Alongside the show is a two-day seminar programme, offering practical solutions for all levels of travel bookers and buyers from leading industry experts.
What: Business Travel Show Middle East
When: 25-26 October 2010
Where: Madinat Arena, Dubai
Contact: www.businesstravelshowmiddleeast.com