BTA reveals UK GDP’s business travel loss of £4.4bn loss in final week of May
The Business Travel Association (BTA), the authoritative voice of business travel in the UK, has revealed the UK has lost £4.4bn in GDP in the final week of May due to the decline of business travel trips following Covid-19.
Data announced 4 June by the association shows that, in the week under review, business travel trips from the UK dropped by 87.77% from 2019 pre-pandemic levels –a reduction of 349,945 business trips in the week.
This decrease in business travel trips across ten key routes has cost the UK government £3.3bn from international business travel and an additional £1.1bn from domestic business travel. The data shows travel restrictions on business travel trips to the following sample countries cost the following respective totals to UK GDP in the week:
- France £594m
- USA £343m
- Republic of Ireland £679m
- Germany £488m
The figures are born out of BTA’s. new partnership with travel data provider Travelogix to develop the Business Travel Tracker, analysing the economic value of business travel. Each week, the tracker will explore the reduction of business travel per week and its effect on GDP from ten of the UK’s top business travel destinations.
The full second edition of the BTA’s Business Travel Tracker can be found here.
Founded in 1967, the BTA has a diverse membership which accounts for over 90% of UK expenditure on managed business travel. The BTA focuses on delivering practical solutions to challenges and market changes, as well as supporting best practice, sustainability and the well-being of travellers.