Business travel transactions are up 5% over last year, according to figures from the Guild of Travel Management Companies (GTMC).
Based on third quarter figures from the 39 business travel agent members of the GTMC, transactions are 13% up on the same quarter in 2012.
Hotel bookings have climbed 17% over quarter three last year, while rail has jumped 16%.
"Business travel has long been a bell weather of economic and business confidence and our quarterly review shows clearly that the tide has started to turn," said GTMC chief executive Paul Wait.
"It is vital now that UK Plc keeps focused on recovery and the best way to do this is to approach business travel as an investment in growth."
The GTMC’s Quarterly Review also found:
– UK purchasing managers market outlook rising sharply during the past six months with business air transactions similarly up – an increase of 8% from quarter three 2012.
– Investment into Britain and abroad by Britons beginning to rise in the first half 2013, followed by a growth in business air trips.
– The change in exports on a seasonally adjusted basis and that of air transactions are exhibiting almost identical upward trends.
– Both measures of business confidence used by the Quarterly Review are moving in correlation with movement in business air transactions.
– A modest but consistent increase in GDP is being supported by an increase in business travel.
– The average transaction value or yield of both business air and rail tickets is rising which suggests that demand for business travel is increasing.
