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UK economy loses £4.5 billion in one week from drop in business travel

Business
Rob Gill
6 August 2021

Covid-19 travel restrictions have cost the UK economy £4.45 billion in just one week due to the huge reduction in business trips.

Older travellers face higher price rises for insurance and car hire

Figures released by the Business Travel Association (BTA) revealed the loss of GDP to the nation during the final week of July, as international business trip were down by 86% on 2019 levels meaning nearly 340,000 fewer corporate journeys.

The data also showed that travel restrictions to the US cost the UK £528 million in lost GDP during the week, while this figure was even higher for France at £547 million as the country was on the “amber plus” list forcing all travellers to quarantine on their return to the UK, regardless of vaccination status.