Domestic business travel has almost recovered to 2019 levels, according to the latest Global Business Travel Review published by the Advantage Travel Partnership.
Transaction volumes for the period from January 1 to May 31 were 90.8% of 2019 figures, the report found.
Advantage global business travel director Guy Snelgar (pictured) said: “The headline that the travel recovery remains strong, despite current global economic uncertainty and high travel prices, is great news.”
More: Advantage Travel Partnership reports 25% growth in membership
The fourth edition of the report, produced in collaboration with Travelogix, is based on an analysis of 14.83 million records stretching between January 1, 2019, and May 31, 2023.
This year, for the period from January 1 to May 31, the average transaction value was £432.35. This was 44.9% higher than the value for the same five-month period in 2022 (£298.47) and 6.5% higher than the whole-year average for 2022 (£406.12).
The average trip duration has lengthened by 1.1 days (or 15.6%) in 2023 to date compared with the total 2022 average of 7.1 days, taking the average duration to an all-time high of 8.2 days.
For the period from January 1 to May 31, there was an average advanced purchase of 31.6 days, which exceeds the total 2019 average by around 8.2 days.
Business-class travel has seen the largest growth across the cabin classes and when compared with previous years. In the first five months of the year, 18.7% of bookings were business class. The proportion was 15.5% in the same period in 2019, and 15.1% in 2022.
First-class bookings also outperformed figures for 2019 and 2022, according to the report.
Snelgar said the findings match feedback from Advantage members, who have spoken about a “buoyant business travel market, particularly in the SME space”.
He added: “Shifting priorities and cost challenges are driving changes in many companies’ behaviour, with 68% of Advantage member travel management companies seeing approaches from new customers who previously booked business travel themselves but are now recognising the need for a professional travel management company.”
Travelogix founder and chief executive Chris Lewis said: “With most global travel markets rebounding well from the pandemic, and many surpassing the volumes seen in 2019, we’re delighted to be able to present many more positive metrics herein.
“To be almost back in line with 2019 figures is a testament to the strength and endurance of our industry, which is driven by our human need to connect with people face-to-face.
“The travel behaviour metrics for 2023 to date show us that people are booking further in advance, travelling for longer and spending more on travel than ever before, which is incredibly positive news to report and confirms the value that our industry brings to the global economy.”
The latest Global Business Travel Review features insights from industry leaders including Jyrney chief executive and co-founder Daniel Price, Rail Delivery Group chief executive Jacqueline Starr and Advantage chief executive Julia Lo Bue-Said.
Travelogix, founded in 2011, is a travel technology and data analyst specialist, while the Advantage Travel Partnership is the UK’s largest independent travel agent and travel management company partnership.