European corporate travel buyers play musical chairs with TMC contracts as over one-quarter switch providers during Covid. 28% of European travel managers have switched TMCs in the last 12 months. 36% plan to switch by summer 2022.
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.
Travel managers and buyers from Accenture, Arsenal FC, Barclays, Burberry, Capgemini, Conde Nast, Fujitsu, Harrods, HSBC, IKEA, Pfizer, Royal Mail, Siemens, Sky, TJX and Warner Music are among the hosted buyers registered to attend the event.
The relationship between travel managers and TMCs features on the Business Travel Show Europe (30 September – 1 October, ExCeL, London) conference programme, including the following sessions:
Thursday 30 September, 1240-1340: Let’s fix the way we pay TMCs
- Jo Lloyd, Partner, Nina & Pinta
- Clive Wratten, Chief Executive, The Business Travel Association
- Kyra Dieteren, Global Travel, Fleet & Supplier Management Manager, ekaterra
- Ben Park, Senior Director Procurement & Travel, Parexel International
Friday 1 October, 1000-1040: Choosing a travel management company and other partners
- Leigh Cowlishaw, Global Supplier Partnership Director, Advantage Travel Partnership
- Hazel Dawson, Commercial Manager, Focus Travel Partnership
- Audrey Muir, Corporate Travel Manager, Baillie Gifford
Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.
She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.