Defy Recession, Fly Business

It’s May. It’s grey. We’ve double-dipped and everyone hates economics again.

And the underlying message from business leaders and leisure-seekers alike? Get out now.

It seems the recession-busting industry is that which is removing people, albeit temporarily, from the turbulence of our green and not-so-pleasant land. Last year the travel industry grew by 4.1% – five times the growth rate of our economy – according to figures from the World Travel & Tourism Council (WTTC).

Defying decline

Moreover, we need the businessmen to be doing business. In other places.

Earlier this year a survey by corporate card provider Airplus noted that travel managers, despite a resounding reluctance to spend anything on business travel during the previous dip, now agree they cannot afford not to go places.

The boon of this being that business travel has fast become one of the country’s most reliable economic growth drivers. While ebbs and flows of the corporate travel market for the most part resembles that of the wider economy, a 6% rise in business travel bookings over the first quarter of last year has defied a concurrent 1% fall in GDP, according to figures released last week by the Guild of Travel Management Companies (GTMC).

Suits up

Though it should be noted corporate air travel only rose about 1% on last year, nevertheless particular criticism of the UK Border Force’s recent hold-ups has been levied on its Fast Track scheme, seen more or less as the same old queue with a dapper suit on.

In a press statement, Anne Godfrey, GTMC Chief Executive, said: “We are especially concerned of the effect these delays are having on the [corporate travel] sector.

“Business travellers may choose to avoid Heathrow and UK plc will again be the loser.”

In other words the GTMC argues the one thing putting the brakes on this potential economic goldmine, is the ability for entrepreneurs to get on or off the plane in the first place.

This will inevitably exacerbate over the Olympics, though the Border Force maintains it will not compromise on safety or security to alleviate a long queue. Incidentally many big corporates are limiting employee travel over this period to the very urgent, while incoming international businessmen will be resigned to staying in Milton Keynes. Or Scotland.

That business travel has seen perpetual growth of late has pushed up hotel prices and airfares by 4% and 5%, respectively. This is nevertheless a good indicator of economic growth since spending, by consumers and businesses alike, apparently has defied worldwide political, environmental and economic instability.

Meanwhile, George Osbourne’s Budget hiked air tax by a sizeable 8%. It was calculated a holiday to Florida for a family of four could rise by about £260 – a make-or-break figure for a clan teetering in the black.

Drip, not drop from April’s showers

You’d think all this would be cause for uproar, yet perversely it has deterred no one. Quite the opposite in fact.

Booking agents’ numbers for a now-certified “wettest April for 100 years” went through the roof, significantly higher than the previous April.

Essentially Britain came to a sudden, sodden realisation that summer has been indefinitely rescheduled for a fortnight sometime in March.

Record bookings for January meanwhile increased by nearly half. This, by the way, was when people were particularly depressed. The first Monday after New Year –which is awarded “most depressing day of the year” – invariably gets a surge of inquiries into how to flee the agony of yet another tumultuous 12 months. This year we actually had some cash to follow through.

It seems that just as the businessmen decided to get their anti-DVT socks on, so too did looming storm clouds and a generally soggy mood give everyone else much the same call to arms.

So by booking a holiday to the Caribbean and getting ourselves the hell outta Dodge, we may have just done the country an even bigger favour. Onwards, soldiers, we have only borders to negotiate. That is, after the borders are done negotiating.