Cost of travel for UK executives threatening UK business competitiveness
British companies pay over 70% more for business travel than their European counterparts which is threatening the competitiveness of UK business, according to American Express.
In a study of European flights to North America, a UK-based company was found to pay £275,000 more on average for fares than a company based in Germany, while UK businesses are also paying almost 50% more for direct flights from the UK to New York.
First and Business Class flights have risen by around 3% over the last year and 9% over the last two years while Business Class fares have remained unchanged throughout the rest of Europe.