Latest figures show the corporate travel sector defying fears of a fresh downturn in the UK economy.
Guild of Travel Management Company (GTMC) transaction figures for the final quarter of 2012 show a 4% rise in total transactions year on year despite a provisional 0.3% decline in UK GDP during the quarter.
The fourth-quarter figures left transactions for the year also up 4% despite an economy that appears to have stagnated for more than two and a half years.
GTMC members account for about 80% of UK corporate travel business, completing almost 17.5 million air, hotel, rail and other bookings last year.
Corporate air travel bookings in the final quarter were up 3% following a 4% decline year on year during the previous three months which included the London Olympics.
GTMC chief executive Paul Wait hailed the results as confirming “business travel is still buoyant and deals are being done”.
He said: “The GTMC survey proves air travel transactions have remained at a constant level despite the economic performance.
“Business travel should be regarded as an investment and not a cost that is vital to successful company perfomance.”
Speaking yesterday ahead of the GTMC annual lunch in London, Wait rebuked companies which have cut back on corporate travel.
He said: “People who have aggressively cut travel have contributed to the UK’s poor [economic] performance.”