Investment in business travel in Spain stands at 12.5 billion in 2018

Published
21/03/2019

A study by Gebta and Braintrust reveals that the figure will evolve to 15.2 billion in 2025 in a moderate scenario.

The market volume of business travel in Spain has reached 15,200 million euros in 2018 and will evolve to 15,200 million in 2025 in a moderate scenario, according to data from the study '2025, a look at the future of business travel' by Gebta and Braintrust.

This market size could be increased, in an optimistic scenario, reaching a potential ceiling of up to 15,600 million euros.

These figures represent an accumulated growth of 22% in investment in business travel for the same period of time (2019-2025) and confirm that it will remain in parameters similar to the growth recorded in recent years out of the crisis, which have moved between 3.5% and 4% annually, in terms of volume of expenditure.

The study, which captures the context in which the business will develop in the medium term, notes the high concentration of travel spending in companies with more than 20 employees, representing 83% of total investment in travel in Spain.

Growth opportunity for SMEs

On the other hand, this same indicator shows, as already stated in a study by Gebta in 2013, that although there has been a progressive incorporation of SMEs and micro-SMEs into business trips, their presence is still reduced in relative terms and suggests opportunities for future growth.

This market growth will also be accompanied in the MICE investment section (meeting tourism, incentives, congresses and exhibitions), the current weight of which would increase from 20% to 25%-30% in the overall travel of Spanish companies.

Among the reasons behind these research forecasts is the need - or greater difficulty - on the part of companies to replace these events with technology, the greater concern for people, and the need to organise meetings and events to compensate for the relocation of work itself and the globalisation of the market.

Scenarios, catalysts and risks

The study detects and anticipates other possible business scenarios and establishes as key factors in the transformation of the management of business trips the greater or lesser speed of the levels of technological adoption by the demand in companies, the speed of integration of the processes associated with the trip, and the impact or influence that the regulator may have in relation to the implementation of disruptive technologies currently existing.

To the extent that they will not be able to compete in a much more complex context than the current one, this scenario could leave out of the market those who are not able to adapt to the speed of the changes that will occur, and who do not have the technology and expertise required to face them both in companies and agencies.

For Juan Carlos González, president of Gebta, "the study shows the solidity of business travel, which will continue to play a key role in the growth and development of the Spanish economy in the coming years.

"This projection represents a significant change in the scenario due to the confluence of various factors, which will lead to an acceleration in the pace of integration and digitalisation of processes, with the aim of guaranteeing maximum efficiencies, while at the same time making it easier to operate in a predictably concentrated context", adds González.

For Marcel Forns, general manager of GEBTA, "from the point of view of the Spanish company, the study shows the convenience of increasing levels of digital adoption, as a strategy to continue maximizing the return on investment in business travel.

"The path towards greater use of technology is also an essential factor to increase productivity and optimize export activities, an absolutely necessary element in an increasingly fragmented, complex and uncertain as the current environment," concludes Forns.

Créditos http://www.agenttravel.es/noticia-033526_La-inversion-en-viajes-de-negocio-en-Espana-se-situa-en-12.500-millones-en-2018.html