PRIVATEFLY.COM SURVEY REVEALS PUBLIC TRANSPORT IS STIFLING UK BUSINESS
Public transport is failing UK business
Nearly two thirds (64 percent) of business leaders believe a lack of investment in transport and its supporting infrastructure is stifling UK businesses, according to a survey¹ by the online private jet booking platform, PrivateFly.com.
CEOs, MDs and Chairmen from some of the UK's top companies were invited to participate in the study undertaken by Clarity, an independent online survey company. The results indicated that UK business leaders believe this lack of investment has had a bigger influence on business travel than anything else in the last decade.
Many business leaders will abandon trains if fares continue to rise
Over a quarter (28 percent), said they would use trains less frequently for business if fares continue to rise above inflation.
Commenting on this finding, Adam Twidell, CEO of PrivateFly.com, said: "The UK's rail companies should take note of this as business travel accounts for a large portion of their income. And, as the government has announced that from 2012 rail fares may rise by three percent above inflation many business executives will be choosing alternative transport methods."
Time wasted through travel inefficiency
The research also found that business leaders waste almost one week per month as a result of ineffective and unproductive travel. It found that, on average, executives are unable to work for 34 hours and four minutes each month while on the move.
- Train travel - 6 hours and 27 minutes are wasted
- Air travel - 11 hours and 48 minutes are wasted
- Car travel - 15 hours and 49 minutes are wasted
When it came to scoring the different transport in terms of work productivity, the Underground and local trains were deemed to be the worst - scoring 1.48 out of 5. This was closely followed by the car - unsurprisingly scoring 1.71. National rail services scored 3.3, with business and first class travel only rating slightly higher at 3.06. Private aviation was considered the top form of travel for work productivity - standing at 3.54.
In terms of the daily commute, the car is the favoured form of transport for the majority of the UK's business leaders (70 percent).
Adam Twidell added: "It seems the UK's business leaders are steering away from public transport for their daily commute. But are they consciously avoiding trains and buses or is it simply because the car offers greater convenience and comfort? And, I wonder how London's transport network will fare during the London 2012 Olympics, when we are going to see a real influx of both business executives and tourists.
"For top business people, efficiency in travel is key, including the ability to work while on the move. It's clear that enormous amounts of highly-paid working hours are wasted by unproductive business transport. Private aviation offers a flexible - and often cost effective - option for business travel, particularly where there are multi-leg journeys or indirect routes involved."
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
Receive a copy of the full White Paper by email by entering your name and email address.
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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.