Expatriate Insurance News: Business travel sector 'a mixed picture'
17/09/10 17:58
Expatriate medical insurance policyholders are among those boosting the business travel sector, research has shown.
The Guild of Travel Management Companies (GTMC) revealed that six-month growth to June 2010 was witnessed in air travel, hotel booking, rail transport and car rental compared with the same period last year.
GTMC chief executive Anne Godfrey explained that while the figures are positive, the business travel sector is likely to experience further economic problems before the situation gets better.
Countries that are undergoing public spending cuts, such as the UK, are likely to see a decline in their corporate travel industry as companies try to slash expenditure.
"If we take the public sector, it's going to get really ugly and a lot of the TMCs (travel management companies) who service local and central government, quangos and the public sector are not going to be in a good place for the next two years," she pointed out.
Her comments come as travel firm Egencia's research reveals that expatriate health insurance customers and other business employees are likely to face higher airline ticket prices to corporate travel destinations in Canada next year.
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