The UK has lost £4.4 billion in GDP this week due to the decline of business travel trips following Covid-19, latest date reveals.
Corporate travel from the UK fell by 87.77% from 2019 pre-pandemic levels – with a reduction of 349,945 business trips in the past week, according to the Business Travel Association.
The slump across ten key routes has cost the UK government £3.3 billion from international business travel and an additional £1.1 billion from domestic business trips, equalling a total of £4.4 billion missing from UK GDP in the past 7 days.
The data shows travel restrictions from the decline of business travel trips to:
- France cost UK GDP £594 million this week
- US cost UK GDP £343 million
- Ireland cost UK GDP £679 million
- Germany cost UK GDP £488 million
The BTA last week revealed a partnership with travel data provider Travelogix to develop the Business Travel Tracker, analysing the economic value of business travel.
The tracker will explore the reduction of business travel per week and its effect on GDP from ten of the top business travel destinations.