Adopting a new global business travel model
Recent data from American Express Global Business Travel has stated that UK business travellers are frequently travelling to cities within emerging economies and technology hubs, including Mumbai and Johannesburg. Not only that but business travellers are also expecting the latest technology and a more flexible approach to corporate travel.
Emerging markets topping the list of business travel destinations
In the first half of 2015, Europe, the USA and the Far East were the most travelled to places by businesses. Traditional hubs such as Rome, New York and Singapore continued to top the list of cities according to American Express Global Business Travel, but the rise of emerging markets, such as Johannesburg, Shanghai and Mumbai, illustrate the attention now being paid to ‘new’ economies - and the importance to UK businesses.
With continued focus in these markets, it's no surprise that emerging economies are making such an impact. At CTM, we expect to see this trend continue, in our destinations list this year Johannesburg, Delhi and Cape Town are all in the top 10.
Technology is shaping the way we travel
Travel management companies (TMCs) all over the world are adapting their business models to be in line with the latest technology. And with clients expecting the very best fares and rates, booking tools and procurement solutions, it's something that can't be ignored. Both Europe and the USA are increasingly competitive markets in which to shop, requiring innovative technology to meet the growing product diversification of the industry.
At CTM, we have seen buying trends change with suppliers unbundling and retailing products that reflect the leisure industry. Our online booking tool has been specially designed with this in mind, allowing users to book their corporate travel within one window - saving time and money. Our range of travel products also enables clients to pick and choose the ones that are best suited to their business needs - giving them flexibility and access to the very latest technology.
Flexible travel at affordable prices
Over the past two years we have seen a shift in business from traditional scheduled airlines towards the low-cost carriers (LCC). Although LCCs are outgrowing general traffic worldwide, Europe still remains the most active market with 250 million passenger trips a year. Smaller businesses rely on TMCs to find cost-effective solutions for their travel programmes and with the likes of easyJet and Ryanair dominating the LCC market, traditional airlines, such as British Airways, are now offering lower-cost/flexible fare options - giving TMCs and travel buyers more choice and availability. This, in turn, has meant that business travel for SMEs has become far more accessible and affordable, therefore having a positive effect on British businesses.
The role of the TMC
As clients shop around for the best deals for global travel, here at CTM we believe it's crucial to find forward-thinking travel solutions that reduce booking time, increase productivity and maintain buyer confidence. Our technology division allows us to create bespoke booking tools and follow the latest trends... Could one window on the market and a generous amount of flexibility be the answer?