According to the 2023 Cvent Travel Managers Report for Europe, rising costs in airfares, hotels, transportation, and amenities are the foremost concern for European corporate travel managers, with 65% of respondents citing it as a major issue. In the UK and France, this concern is even more pronounced, with 73% expressing worries about costs.
The report reveals that 80% of business travel managers in the UK, France, Germany, Spain, Italy, and the Netherlands have become more creative to stretch their budgets. Strategies include combining business trips with existing meetings (40%), reducing the number of employees allowed to travel (37%), and scheduling fewer trips but with extended stays (22%).
Sustainability programs are gaining importance, with 19% considering them the most influential factor in submitting a Request for Proposal (RFP) to a hotel for corporate travel programs. Despite these challenges, 80% of respondents express positivity about the current state of business travel activity.
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