A survey by the NBTA Foundation – the research arm of the National Business Travel Association (NBTA) reports that corporate travel managers at major corporations across the globe found that the volcanic ash cloud over Iceland and much of Europe negatively impacted travel for 80 percent of companies, at an average cost of nearly $200,000 per affected company, and highlighted the importance of effectively managing corporate travel.
The 234 survey respondents indicated that on average, more than 160 travelers from each company were stranded away from their homes, costing the company more than $197,000 in unexpected travel expenses. Across the roughly 2,000 companies represented in the survey, the data indicates more than 310,000 travelers experienced travel disruptions, costing the surveyed companies more than $367 million collectively.
The closure of European air space also forced the cancellation of many business trips and meetings before they began. NBTA found that NBTA-affiliated companies cancelled nearly 5,600 scheduled corporate meetings and more than 165,000 total trips that had not yet taken place.
To download the full report for free from the NBTA website click here.
Go Native Comments
Go Native’s Head of Property Management, Samantha McKnight, had this to say about the impact of the ash cloud on our business “we saw an increase in the volume of enquiries particularly from Business Travellers trapped in the Capital unable to get flights home. Hotels either increased their prices or became full so business travellers turned to alternative options such as our Serviced Apartments”.