Flight Centre Travel Group booking data reveals a six per cent uplift in business-class bookings in the year to end of June 2024, with international corporate bookings under the group’s flagship brands, FCM Travel and Corporate Traveller, up 14 per cent for the same period.
Business-class bookings are most common in Europe, followed by North America and Asia.
Year on year, business class bookings to Europe and North America were up nine per cent, and Asia was up eight per cent.
“This data comes in a period of economic uncertainty, and it goes to show that despite many businesses feeling the pinch of the cost of doing business, travel continues to be a necessity for business success and survival,” says Flight Centre Corporate Global COO Melissa Elf.
“Many of our corporate travellers are making the decision to book business or first-class travel so they can get a decent sleep if they’re travelling through the night, or continue to work productively if they’re travelling through the day.
“It can also mean more nutritious meals, and less time lost through the check-in and boarding process.
“It all contributes to general health, wellness and productivity levels so the extra cost of the fare is viewed as worthwhile for corporate travellers who are short of time as it is.”
The three sectors leading business-class bookings in Australia are mining, oil and gas; finance and insurance; and government and not-for-profit.
Australian destinations with the highest rate of corporate business-class bookings are Melbourne, Sydney, Perth, Brisbane and Adelaide.
Internationally, business class demand is highest to London, Singapore, Tokyo, Auckland and Shanghai.
“The figures reveal more than just a homegrown love of travel, but the growing flexible working trend that accommodates ‘bleisure’ feasibility,” says Elf.
Travel luxury and comfort are becoming increasingly important for passengers when booking work flights.
“Business class continues to see a marked growth in bookings as passengers opt for luxury and comfort,” says Flight Centre Travel Group global leisure CEO James Kavanagh.
“It’s an interesting trend considering the challenges presented by the current cost of living, and goes to show that one item people aren’t willing to compromise on is travel.
“For our luxury travel agency, Travel Associates, business-class bookings made up almost half of overall airfare transaction value during the past financial year as clients invest in travelling well.”
For first-class travel, Europe held 73 per cent of booking share in the 2023-2024 financial year, followed by Asia and North America with 13 per cent.
