Corporate leaders predict buoyant future for business travel
UK business leaders gave an optimistic indication of their future business travel expenditure in a recent survey[1] by the online private jet hire platform, PrivateFly.com.
CEOs, MDs and Chairmen from some of the UK's top companies were invited to participate in the business travel study, which was undertaken by Clarity, an independent online research group. The research asked participants about their business travel movements and their intended spend levels for 2011.
The vast majority of business leaders (80 per cent) expect to spend at least as much on their own business travel in 2011 as they did in 2010, with just over a quarter (27 per cent) expecting their spend levels to increase by 10 per cent. Almost 1 in 10 respondents (8 per cent) said they intend to spend as much as 25 per cent more this year.
The research suggests the continuing significance of business travel to the UK's top executives, despite advancements in meeting technology. 39 per cent of those surveyed spent between 6 and 10 days travelling on business in an average month last year, with a further 26 per cent away for almost half of the working month or more (11+ days). 95 percent stated that face-to-face meetings are still essential for them.
Commenting on the findings, Adam Twidell, CEO of PrivateFly.com, said: "These findings are an optimistic indicator for the business travel industry and suggest a returning confidence amongst the UK's top executives - who are clearly still travelling for a significant proportion of their working hours."
"However not everything remains unchanged; there is now increased pressure to travel on business as efficiently as possible - both in terms of cost and time. Today's business leader is looking to reach their destination as seamlessly as possible, with the ability to work on the way".
The full results of the study are available in a white paper written by business journalist, Jeremy Skidmore.
Summary of key findings:
- Public transport is failing UK businesses
- Business travel future looks buoyant
- Business leaders mix the old with the new
- The growing allure of private jet travel
- Business travel likes & dislikes
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Notes to editors:
1 The UK Business Leaders 2011 Travel Survey was conducted in March 2011 by Clarity UK (www.clarityuk.net), and commissioned by PrivateFly.com. 105 responses were generated from e-mail target data of UK CEOs, MDs and Chairmen of companies with £100M+ turnover and targeted social media invitations.