Business travel rebound

MANUFACTURING is on track to be the fastest-growing industry for business travel bookings over the next year, according to new data from Corporate Traveller.

The Flight Centre Travel Group business saw a 51% increase in bookings out of the manufacturing sector during Jan-Apr this year compared to the same period last year, followed closely by the healthcare and social assistance industry, up 50%.

Also in the top-five ranking are the mining, oil and gas industry (up 49%), professional services (up 47%) and construction (up 43%), which the latter expected to remain the leading industry for travel spend, having increased its spend by 98% this year.

Healthcare was the second highest-spending industry, with a growth of 106%, followed by professional services, which overtook mining, oil and gas as the third-highest spending industry.

“More people in these industries are travelling for work or travelling more often,” Corporate Traveller’s Australian-based Global MD Tom Walley said.

“In fact, we expect these rate of bookings to increase more in FY24, with govts committing to large infrastructure spends.”

Among those projects are Sydney’s WestConnex and the Vic and Qld Inland Rail project, which will continue their crossstate and intercity developments throughout 2023 and into 2024.

Walley forecasts a strong financial year ahead for business travel, saying, “a combination of Australians’ confidence in air travel, international conferences taking place locally and overseas, and generational projects nearing completion will help to keep travel at the top of business agendas at least for the near future.”