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Political uncertainties dampen economic growth – business travel especially hard hit

 

Political uncertainties dampen economic growth – business travel especially hard hit

Neu-Isenburg, 12 February 2020

In the run-up to the Munich Security Conference, business leaders view current world politics as having a heavy impact on their companies

From demonstrations to wars and trade conflicts, the geopolitical situation has the business world on edge, with four out of five companies reporting that they see a big impact on their economic situation. That is the result of a recent survey conducted by AirPlus International among more than 400 board members and CEOs from Europe, the United States, and Asia. Italians take an especially critical view of current world politics, with 93 percent seeing the situation as presenting difficulties for their business. Skepticism is also prevalent in France (85 percent) and China (83 percent). German businesses still have the most positive outlook; just under half (42 percent) of them see no impact at all, while one-third of those in the United States say the same.

Sharp reduction in business travel to Hong Kong

Political instability has a negative effect on foreign trade, weighing on business travel as a result. According to figures from the AirPlus Business Travel Index, the ongoing protests in Hong Kong have sharply reduced business travel there, for example. Compared to the second half of 2018, trips from Italy alone to the Chinese special administrative region were down by one-third in 2019, and there were also significant decreases from Switzerland (-24.3 percent), Germany (-18.5 percent), and France (-17.2 percent), as shown by the figures published by AirPlus, a provider of solutions for day-to-day management of business travel. Terrorist attacks have an even more serious impact. After the attack in and around Istanbul’s Atatürk Airport on June 28, 2016, flight bookings by business travelers from European firms to the Turkish city experienced a short but steep drop of nearly two-thirds (62.7 percent).

The AirPlus Business Travel Index is an analysis of the flight bookings handled via AirPlus. AirPlus surveyed a total of 424 top managers in Germany, the USA, China, Italy, and France, including CEOs, CFOs, and heads of sales, for this survey.

About AirPlus International:

AirPlus is a leading international provider of solutions for the daily management of business travel. 50,000 corporate customers rely on AirPlus for the payment and analysis of their business trips. The products and services are marketed worldwide under the AirPlus International brand. The AirPlus Company Account is the most successful billing account within the UATP. More information is available online at www.airplus.com.

Contact AirPlus International:
Marcell Haag
AirPlus International
Phone: +49(0)6102 204-6350
E-Mail: press@airplus.com

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