More than three quarters (76%) of business travel buyers will have bigger budgets to spend in 2014, a new poll shows.
This is despite just 49% of buyers being asked to book more trips, according to the annual business travel buyer survey carried out by the Business Travel Show ahead of the event in London next month.
The study shows a third consecutive annual rise in the number of buyers enjoying bigger budgets.
Last year 72% of budgets were higher or the same than in 2012. And in 2012, 67% of budgets were subject to an annual rise.
The latest study found that 76% of airline budgets and 74% of accommodation budgets will be the same or greater in 2014, and 83% of buyers will be expected to book the same or more trips.
When asked about the biggest issues facing them and the industry over the next 12 months, Iata’s NDC came out on top, followed by travel management 2.0, data, sustainability, meetings management and mobile technology.
A total of 183 travel, category and procurement managers took part in the survey, with the majority based in the UK.
Business Travel Show event manager Dvaid Chapple said: “The survey results are great news for buyers, who have faced intense pressure over the last couple of years to cut costs and stretch budgets.
“The figures in our survey also support the GBTA’s own predictions that the UK business travel industry is heading for very strong growth in 2014 and 2015 and, following a trying few years, western Europe’s major markets should see a bounce back over the next five years.”