News

Business travel slump cost £3.18 billion in past week

The UK lost £3.18 billion in GDP this week due to the decline of business travel trips following Covid-19.

The figure was revealed by the Business Travel Association.

The data shows that in the second week of June, business travel trips from the UK dropped by 67.72% from 2019 pre-pandemic levels – with a fall of 366,018 business trips in the past week.

Travel data provider Travelogix found that the decline in business travel trips across ten key routes has cost the UK government £1.85 billion from international business travel and an additional £1.32 billion from domestic business travel, equalling a total of £3.18 billion missing from UK GDP in the past 7 days.

The data shows that as a result of travel restrictions:

·       Republic of Ireland has cost UK GDP £753 million 

·       France has cost UK GDP £579 million 

·       Switzerland has cost UK GDP £438 million

·       US has cost UK GDP £370 million this week

Share article

View Comments

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.