Q2 levels this year are 1.4% up on the previous year’s Q2
New data from Amex GBT has found that overall cost of business travel rose by 2.6% in Q2 after some of the biggest airline price hikes seen this century.
Amex GBT’s quarterly Business Travel Pulse analysed a basket of fares (weighted according to typical travel programmes) to track the evolving global cost of business travel, and reports that Q2 is the fifth straight quarter where costs have risen YoY.
This was driven in part by a 30.2% spike in air fares between June and July, the biggest jump for that period since the ONS began collecting monthly data in 2001.
It found that with the summer holiday season coming to a close, business travel bookings historically see a surge post the August Bank Holiday as people return to work.
This will increase competition for premium seats, rooms and rental cars for the remainder of the year.
Brussels–Helsinki was the fastest-growing international route with Helsinki–Paris also in the top five, pointing to the Finnish city’s growing presence in Europe.
Hyperbad-Pune and Madrid-Vigo also emerged as top routes.
Sara Andell, director of consulting strategy at Amex GBT, said: “This price growth mirrors a shift in mindset. After a cautious start to the year, businesses are no longer waiting for economic certainty – they’re moving forward, recognising travel as an essential part of growth, even in unpredictable times.
“With rising demand and fares pushing costs up, securing value from travel programmes will depend on strategy, negotiation and the right partnerships.”
You can find Amex GBT’s latest Business Travel Pulse linked here [IA1] [CR2] (including the methodology), and if you’d like to speak to Sara about the findings, I’d be happy to connect you.
