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Business travel increases 3 per cent in Q1

GTMC survey reveals its members' bookings outpaced UK GDP in Q1, and says it is cautiously optimistic for 2016

Pictured: Paul Wait, chief executive of GTMC

The Guild of Travel Management Companies (GTMC) says it is "cautiously positive" for the rest of 2016, after its members reported a three per cent increase in bookings for Q1.

In its quarterly survey of its members, who represent 80 per cent of the UK business travel industry, the guild says the positive growth suggests UK companies are investing in business travel. GTMC points out its members' growth outpaces the UK's GDP growth for the same period, which slowed to 0.4 per cent, due to uncertainty surrounding the EU referendum.

GTMC chief executive Paul Wait said: "We remain cautiously positive for business travel transactions this year. While we don’t assume that the levels of growth we have seen in the first quarter of the year will continue to outpace the economy’s performance, TMCs are doing a great job to help their clients get the best value out of their business travel budgets. Ongoing drives for business efficiency being realised by TMCs is helping our members prove their value to clients."

Rail travel bookings had the strongest demand with an increase of 6 per cent, followed by air travel with an increase of 2 per cent.

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