Travelogix has reported a 15.5 percent increase in business travel transactions handled by its 90 UK-based TMC partners in 2024, compared to the previous year. However, both the average transaction value (ATV) and average trip duration showed a decline.
According to Travelogix’s latest Global Business Travel Review, created in partnership with the Advantage Travel Partnership, monthly transactions in 2024 surpassed those in 2023, except for June. The drop in June was attributed to the impact of industrial action and the UK’s general election.
The average transaction value in 2024 was £399.81, a 6.88 percent decrease from £429.35 in 2023, and also lower than £406.12 in 2022. Despite the overall decline, January and February saw a strong start, with the ATV rising by 7.14 percent and 4.45 percent, reaching £466.05 and £454.19, respectively. However, the ATV dropped to £385.70 in May and remained below £400 for the rest of the year.
The report suggested that economic uncertainty and caution following the UK’s general election likely played a role in the reduced business travel spending.
