28% of corporates switch TMCs during pandemic
A new study of 313 European business travel managers by Business Travel Show Europe (30 September – 1 October) has revealed that over one -quarter (28%) of buyers have switched travel management companies (TMCs) over the last 12 months. A further 36% plan to move their business by summer 2022.
When asked why they decided to change their TMC:
- 52%: TMC hadn’t provided them with enough support during the pandemic
- 28%: They had been meaning to for some time, and the travel downtime had given them time to review their supplier relationships
- 6%: Wanted a TMC partner with better technology
- 5%: Needed to cut costs
- 5%: Wanted better Covid-support for travellers
- 3%: Concerned by the prospect of consolidation
“We’ve seen some TMCs reporting their most successful new business revenues for years because so many organisations are switching partners and, once travel returns in earnest, those wins will really come into fruition,” said Louis Magliaro, Executive VP, BTN Group.
“But for those who are not picking up new business, now is the time to get out there, meet buyers face to face and really understand what you need to be offering them to replenish that pipeline. The volatility in the market when it comes to supplier negotiations is only going to heat up as buyers start demanding more value across technology, pandemic support, sustainability, duty of care and savings.”
Over 125 world-class suppliers will be exhibiting at Business Travel Show Europe, which takes place in person at ExCeL London from 30 September – 1 October and online via Swapcard. Exhibiting TMCs include agiito, American Express GBT, BCD Travel, Clarity, ClickTravel, CTM, Corporate Traveller, CWT, Direct ATPI, Diversity Travel, Egencia, FCM, Focus Travel Partnership, Inntel, JTP Business Travel, Omega World Travel, Reed & Mackay, Selective Travel Management, TAG, Trailfinders, Travel Counsellors, Travel Planet and TripActions.
