Home Travel & Adventure Growing Apprehension Among European Travel Buyers as Costs Continue to Escalate

Growing Apprehension Among European Travel Buyers as Costs Continue to Escalate

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A new survey has revealed that about two-thirds of European-based travel buyers expect the travel business of their organization to be higher in 2023 than last year and have expressed their concern about rising costs.

According to data provided in the survey carried out by events technology specialist Cvent, 80 per cent of around 600 European travel buyers from major markets such as France, Germany, and the UK, said that they felt positive about the business travel activity of their organization.

As BTN Europe explains, of these, 64 per cent said that there would be more business travel throughout this year, and 19 per cent said that the increase in travel would be very significant.

However, despite expecting travel activity to increase, travel buyers expressed their concern about the rising costs of all types of travel products, with around 30 per cent of them anticipating the ground transport cost to increase the most.

According to the survey, minimizing the cost of travel is a priority for around 65 per cent of the buyers, with them saying that this is their top concern.

Moreover, as BTN Europe reveals, in order to fight the rising costs, travel buyers have said that they are using several tactics, with one of the most popular being to combine their business-related travel with other existing events that employees will attend.

In addition to the above-mentioned, it has been noted that 37 per cent of buyers are reducing the number of their colleagues traveling. Furthermore, 22 per cent of buyers said that these kinds of trips are now tending to have a longer duration period.

Moreover, 70 per cent of buyers based in Europe said that they are also expecting a higher average budget per trip this year, saying that the increase in costs calls for an increase in the budget within their organizations.

Commenting on the matter, the vice president of international sales at Cvent, Graham Pope, said that corporate travel managers are trying to work with hotels so that travel buyers do not have to deal with high costs.

“After the strong return of leisure and MICE travel, corporate travel managers are eager to get their teams back on the road but are keen to work with hotels that understand their needs and can be flexible given budget constraints,” the statement of Pope reads.

Among the priorities among travel buyers are also locations where they will be staying as well as sustainability.

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Monte OZ is a highly accomplished and respected international freelance journalist, travel and active adventure reporter, and leading entertainment & lifestyle blogger based in Africa. With a passion for storytelling, a sense of adventure, and an eye for all things captivating, Monte has become a prominent figure in the world of travel, entertainment, and lifestyle journalism. Born and raised in Africa, Monte developed a deep appreciation for the continent's diverse cultures, rich heritage, and vibrant entertainment scene. His upbringing fueled his desire to share Africa's untold stories and showcase its dynamic lifestyle to a global audience. Monte's extensive experience and expertise have made him a sought-after authority on all things related to travel, adventure, entertainment, and lifestyle in Africa. As an international freelance journalist, Monte has made significant contributions to various prestigious publications worldwide. His captivating articles, insightful interviews, and engaging features have graced the pages of leading entertainment magazines, lifestyle publications, and reputable news outlets. Monte's unique ability to capture the essence of Africa's entertainment and lifestyle scene has garnered widespread acclaim and recognition. With a love for exploration and a thirst for adrenaline, Monte also thrives as an active adventure reporter. He has embarked on daring expeditions, immersing himself in Africa's wild landscapes, and documenting his adrenaline-pumping experiences. Whether it's conquering treacherous peaks, exploring remote jungles, or engaging in heart-pounding activities, Monte's adventurous spirit and daring escapades inspire readers to embrace their own sense of adventure. In addition to his work in journalism and adventure reporting, Monte is a leading entertainment & lifestyle blogger in Africa. Through his influential blog, he offers readers an insider's view of the continent's vibrant entertainment scene, trendy hotspots, fashion trends, culinary delights, and cultural experiences. Monte's unique blend of storytelling, personal insights, and expert recommendations has made his blog a go-to resource for entertainment and lifestyle enthusiasts seeking the pulse of Africa's dynamic culture. Beyond his professional pursuits, Monte is a passionate advocate for promoting Africa's talent, creativity, and cultural diversity. He actively supports and champions emerging artists, musicians, designers, and entrepreneurs, helping to showcase their work to a broader audience. Monte's dedication to promoting Africa's vibrant entertainment and lifestyle industry has positioned him as a respected influencer and tastemaker within the African and global entertainment communities. With a commitment to excellence, a passion for exploration, and a talent for captivating storytelling, Monte Oz continues to captivate audiences worldwide. As an international freelance journalist, travel and active adventure reporter, and leading entertainment & lifestyle blogger, his work has left an indelible mark on the world of journalism, travel, and entertainment, solidifying his position as a trusted authority and go-to resource for all things related to African travel, adventure, and lifestyle.