Wings Travel Management: Business Travel Growth Sways

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04 September 2018 10:05pm
Wings Travel Management: Business Travel Growth Sways

Wings Travel Management has reported a 15 percent increase in business travel by its UK energy sector clients, but uncertainty around Brexit has caused slower growth in the corporate sector.

Since the beginning of 2018, Wings’ energy sector clients have made more trips, particularly to Iraq and the Gulf states, with a rise in oil prices reigniting investment in oil and gas exploration. However, it’s not all good news across the board.

There’s also been a 10 percent increase in travel to the Far East, particularly Singapore, Hong Kong, Japan and Vietnam as companies explore new business opportunities in a bid to prepare for an unfavorable Brexit trade deal.

Additionally, booking patterns in the financial services sector are shifting, with companies increasingly opening new offices in the Netherlands and Belgium while retaining a London base in post-Brexit preparations.

According to Wings, geopolitical instability is continuing to add to the complexities of business travel and may be deterring companies from moving into certain markets.

Source: Buying Business Travel

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