SYDNEY, 30 July 2024 – Despite reports of tightened travel budgets, recent data from Flight Centre’s corporate division reveals a notable increase in business travel across Australia’s key cities. The volume of flight bookings between Sydney, Melbourne, and Brisbane—collectively known as the ‘Golden Triangle’—rose by 12% in the first half of 2024 compared to the same period in 2023.
Exclusive figures from Flight Centre Corporate’s FCM Travel and Corporate Traveller indicate that Melbourne has seen a significant rise in business arrivals. In the first half of 2024, 38% of corporate flights landed in Melbourne, up from 36% in 2023, while Sydney saw a slight decrease, with 39% of arrivals, compared to 40% last year. Brisbane maintained a steady 23% share of the arrivals in both periods.
The top industries contributing to the increased travel between these major business hubs were services, finance and insurance, construction, arts, entertainment and recreation, and health and social services.
Melissa Elf, COO of Flight Centre Corporate, attributed the growth in travel to the increased capacity of airlines and the full reopening of state borders. “The rise in business travel between Sydney, Melbourne, and Brisbane is a positive sign amidst ongoing economic pressures. Melbourne is gaining ground, partly due to significant events such as the Australian Open, Taylor Swift concerts, the Melbourne Cup, and the Formula One,” Elf noted.
Elf added that Melbourne’s appeal has been bolstered by ‘bleisure’ travel, where business travelers combine work with leisure. “Despite the busy event schedule, we observed a significant influx of corporate travelers eager to participate in these events while managing their business commitments,” she said.
Brisbane, meanwhile, continues to grow as a business hub, making up 23% of the total bookings between the cities. “Brisbane’s development is expected to accelerate with increased investment leading up to the 2032 Games. The city’s resource-rich Queensland region also drives substantial travel from sectors such as mining, oil, gas, and construction,” Elf added.
According to BITRE’s Air Passenger Movement Report, Brisbane Airport is forecasted to see an average annual growth rate of 4.5% in passenger movements over the next decade, while Sydney and Melbourne airports are expected to grow at 4% annually. By 2026, a combined total of 38 million passengers is projected to pass through these airports.
The Global Business Travel Association has predicted a 27% increase in business travel in Australia for 2024. The association also revealed that businesses could see a US$145 return in sales for every US$1 spent on business travel.
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