" The trip is a very seasonal activity, but the divergence between business and leisure observed in the first half of this year has been more marked than in the past . The finding is signed by Aurélien Nolf, finance director of NavanThis falls within the scope of the Navan Business Travel Benchmark (BTB) publication, which surveyed the travel market during the first half of the year.
In this report, Aurélien Nolf continues: " Although tourism as a whole has stagnated, businesses have continued to invest in face-to-face interactions because of their vital role in growth, customer service and team-building. In line with our expectations, BTB grew by 13.5 % year-on-year, driven by the strength and resilience of business travel ".
More specifically, Navan’s business travel index stands at 189.1 points, its highest level on record according to the report’s authors. The gap with the TSA Passenger Index (121.1) thus stands at 68 points. This, too, is “an all-time high” according to TMC. Navan estimates that domestic spending rose by 21.5 % year-on-year, whilst volume increased by 8.8 %. Furthermore, the volume of hotel bookings surged by 11.1 % in the domestic market and by 9.8 % internationally, according to the report. Despite a significant rise (14.4 %) in the average ticket price (ATP) across all classes, business travellers favoured the front classes. The volume of journeys in business and first class thus rose by 17 % on the domestic market and by 19.3 % internationally.
For Phil Mackintosh, Chief Economist at Nasdaq, " This latest barometer shows that companies continue to invest to conquer new markets and stimulate their growth, and that they are absorbing higher costs as a sign of confidence in the continuation of business. ".
