Vehicle hire excess and travel insurance specialist Questor Insurance looks at figures which show that business travel transactions in the UK leapt by 8%* during the second quarter of the year.
The survey of 38 members of the Guild of Travel Management Companies (GTMC) revealed that business travel transactions had increased by a staggering 4.5 million in the three months to June in a year-on-year comparison.
Recently revised figures from the Organisation for Economic Co-operation and Development (OECD) show that UK’s economy expanded by a figure of 1.5% in 2013**, up from a previous forecast of 0.8%, may be just one the reasons behind a boost to business travel figures.
The GMTC also pointed to an upswing in business confidence, and the performance of the London Stock Exchange as further potential reasons behind the increase in business travel.
When the figures were broken down, rises were seen across all modes of transport including increases to rail bookings (up 7% to 1.36 million), air bookings (up 4% to 1.83 million). Hotel transactions also shot up by a staggering 16% to 1.14 million, compared to 2012.
The research also revealed an increase in car hire during the second quarter amongst business travellers; up by 9% to 94,000.
Commenting, Questor Insurance CEO Andrew Lawrence, said: “With UK economy improving and ever greater links being established between the UK and emerging economies, business travel may remain strong for months or even years to come.
“Organising business travel insurance in advance will mean that you are covered for any business equipment you take on your trip, as well for the loss of business money you take on your trip to a pre-specified limit.”
Buy your business travel insurance at Questor today.
Questor Insurance’s ‘Be Holiday Savvy’ campaign is running from June to September and will provide travellers with a wealth of handy hints and tips to make the process of planning and executing their foreign holiday that much smoother.