There are signs that companies in Scandinavia will soon begin to increase their business travel budgets again. According to the travel research firm Resegeometri’s latest quarterly measurement of economic activity with a business travel perspective, the proportion of companies planning to increase business travel in the coming three months is up from 18% in Q4 2011 to 24% in Q1 2012. In a twelve-month horizon, the share of companies planning to travel more has gone from 24% to 27%. Demand remains strongest in Norway and weakest in Finland.
“It is some time since we saw such a strong signal of growth in demand for business travel services,” Resegeometri’s vice president Jan Borg commented. “For the first time in six quarters our Nordic Demand Index […] indicates an increase in demand, thereby indicating a trend reversal.”
He continued: “We have lived with global uncertainties for several years now, but the Nordic region has withstood them a lot better than many other European economies. […] You could say that we have a ‘stable uncertain’ situation, and that the market has a growing confidence that politicians are in control of the situation, all of which is crucial for the growing optimism we see.”
The next quarterly measurement will determine the trend's durability.
[photo courtesy Singapore Airlines]