The second week of March saw the biggest drop in domestic and international business travel since the start of 2022, latest data reveals.
The Business Travel Association reported that corporate travel trips fell by 49.64% compared to the same period in pre-pandemic 2019.
This compared to a reduction of 42.44% in the first week of the month.
Data shows that there has been an overall £3.41 billion GDP loss associated to domestic and international travel compared to the same week in 2019.
This is the biggest loss seen since the start of the year and comes against the backdrop of the Russian invasion of Ukraine and soaring fuel costs.
BTA chief executive Clive Wratten said: “At a time of increased uncertainty across the world and rising fuel prices threatening our industry, it is disheartening to see a reduction in business travel.”
He warned: “If this trend continues, we will be in the sad position of needing further government support.”
The data from Travelogix shows that in the second week of March, the lower levels of business travel to:
- Ireland have cost UK GDP £527 million
- Germany have cost UK GDP £487 million
- Singapore have cost UK GDP £465 million
- France have cost UK GDP £401 million, and
- US have cost UK GDP £281 million.