Despite the mounting fears over the credit crisis, business travel remains a growth sector, according to research released from the annual Barclaycard Business Travel Survey.
Interviews with more than 3,000 business travellers across the country, show 44% travelled more in 2007 than they did in 2006 while a third plan to travel more in 2008 than they did in 2007.
Seventy seven per cent of business travellers surveyed anticipate travelling the same amount or more in 2008, with 36 per cent citing business expansion in the UK as the main reason, and 31 per cent citing overseas expansion.
While business travel may be on the rise, however, spending is under closer scrutiny, with business travel no longer meaning ‘business class’ travel, the research found.
More businesses are focused on managing and minimising costs with 55% said they would be most likely to fly economy class when travelling for business. This compares with 46% in the previous year.