by 0.3%, the equivalent of £100 million. A return to pre-crisis levels of ... increases trade by 0.0 9%, or around £60
Business travel: the secret to unlocking £6.5 billion UK trade boost New Oxford Economics research reveals the economic growth potential of greater business travel
Economic Impact - if business travel returns to pre 2008 levels £
£6.5bn
£
£ £
£
this would equate to 1% of the UK’s total trade
£
£
£
Foreign Direct Investment £
£
£ £
+£1.6bn
+£100m
International business travel attracts inward FDI
A return to pre-crisis levels of business travel
A 1% increase in business travel grows FDI by 0.3%, the equivalent of £100 million.
could grow inward FDI by £1.6 billionequates to 5%of total FDI in 2012
Trade Business travel boosts trade
Business travel drives exports
A 1% increase in air business travel will boost all trade by around £400million
A 1% increase in air business travel increases exports by £160 million, and imports by £125 million
+£160m
+£400m Greater air connectivity generates trade A 1% increase in air connectivity increases trade by 0.0 9%, or around £600 million
+£125m
+£600m £
£
There is strong evidence that greater trade and FDI provide a boost to productivity
Each business travel trip triggers a 1% increase in business travel would increase UK GDP by
£390 million
£34,000
contribution to GDP
Source: Oxford Economics, The Value of International Business Travel, May 2016
