Corporate travel payments specialist AirPlus International has recently released a report detailing the trends in business travel spend and trip frequency for the first half of 2024. According to the report, European companies saw a slight increase in both air travel expenditure and the number of tickets booked compared to the same period in 2023. The data revealed a 1.7 per cent rise in business travel spend and a 1.6 per cent increase in the number of trips taken.
Despite these marginal increases, AirPlus noted that there were no significant changes in overall travel behavior among European companies. Interestingly, the report highlighted that the UEFA Euro 2024 football tournament held in Germany had little impact on business travel activity during the first half of the year.
One of the notable shifts observed in the report was a change in advance booking behavior. On average, travelers purchased flights 28.8 days before departure, an increase from 26.3 days in 2023. Additionally, female travelers tended to book their trips almost five days earlier than male travelers, with an average of 32 days before departure compared to 27.2 days.
The average duration of business trips in the first half of 2024 was 5.8 days, slightly lower than the 5.9 days recorded in the previous year. The proportion of one-day trips also saw a slight decrease from 6.8 per cent to 6.7 per cent.
Mads Krumhardt Enggren, CEO of AirPlus International, commented on the findings, stating, “Despite adversities such as strikes and cancellations, especially at the beginning of the year, European business travelers were in the air more frequently in the first half of the year than in the previous year.” The report also highlighted a 16 per cent increase in business trips commencing on weekends, indicating a growing trend of combining business and leisure travel.
In terms of travel class preferences, the report revealed an increase in the proportion of business class flights taken, rising from 10.8 per cent to 11.1 per cent. Premium economy bookings also saw growth, increasing from 1.8 per cent to 2 per cent, while economy trips decreased slightly from 87.2 per cent to 86.8 per cent. AirPlus suggested that these changes could be attributed to an increase in long-haul trips, with a slight decrease in trips within Europe and a rise in flights to other continents.
Despite these shifts in travel behavior, the report noted minimal movement in airfares, with the average economy class ticket price increasing by 1.5 per cent to €526. In contrast, the average business class fare decreased by 2.1 per cent to €3,784.
Overall, the data provided by AirPlus International offers valuable insights into the evolving landscape of business travel in Europe, highlighting changing booking patterns, trip durations, and class preferences among corporate travelers. As companies continue to navigate the challenges of the post-pandemic world, understanding these trends can help optimize travel policies and enhance the overall travel experience for employees.
