Yahoo Finance Covid hit to business travel cost UK economy £5.4 billion last week, new study suggests
The BTA describes business travel as a crucial economic enabler for the UK
(PA Wire)The slump in business travel due to Covid-19 cost the UK economy £5.4 billion last week, a new study tracking the sector has estimated.
The Business Travel Association (BTA) said there were 90% or 131,449 fewer trips than the same week of May 2019 across ten international and domestic air routes.
It believes the weekly hit to UK GDP from international business travel is £4.4 billion, led by France at £778 million.
A further £1 billion has been lost from domestic trips.
The BTA describes business travel as a crucial economic enabler for the UK, contributing over £220 billion to UK GDP every year.
The route data compiled by travel data provider Travelogix shows the decline in US travel cost £598 million in the past week, with Germany estimated at £720 million.
And despite being on the UK’s green list, business travel to Singapore fell 91% from the same week in 2019.
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