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Australia’s Travel Industry Predicts Slowdown

March 10, 2017 Business News No Comments Email Email

AirPlus International has published the first part of its International Management Study (ITMS) for 2017, revealing there was an optimistic feeling at the start of the year (pre Trump’s election win), with almost 90 per cent of travel managers across the world expecting stable to growing business in 2017.http://www.banyantree.com/en/ap-thailand-phuket-spa-sanctuary

However, in stark comparison to the rest of the world, the expectations of travel managers in Australia were much more cautious with only 7% expecting positive effects from the current economic effects in 2017 compared to almost a third (29%) globally.

Business travellers in the rest of the world largely agreed with the positive sentiment of travel managers with more than half presuming they will travel just as much as in 2016 and a third thinking they will be packing their suitcases more often than before.

Again however in Australia, business travellers were also less optimistic than in other countries with just 16 per cent expecting an increase in business trips in 2017, compared to 31 per cent globally.

The findings in AirPlus International’s ITMS Part 1 are consistent with the divided view over Australia’s economic outlook for 2017*. It seems recent turbulent affairs both internationally and domestically have impacted on the business travel industry and whatever the future holds, a period of uncertainty appears imminent.

David Newington, Country Manager – Australia for AirPlus International comments:

“In our experience, business travel is one of the first areas of expenditure that global businesses claw back in times of uncertainty. It could be that Australian business travellers sensed a slowdown as they had already seen a reduction in overseas trips being booked for the year ahead.

Travel Managers are also quick to pick up on uncertain times and this is reflected in the research. In times of uncertainty, it is even more crucial for businesses to have transparency over their business travel costs and give travel managers the ability to track compliance and costs.”

Key economic trends such as the effect of Brexit on international travel are also discussed in the first part of the AirPlus International ITMS.

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