Flight Centre’s Corporate Traveller shows 123% spike in early business bookings to the Paris Games – expects 200% growth
17 July 2024
Corporate travel bookings to Paris are surging throughout during the Olympic Games period, with data showing Australian businesses are capitalising on the quadrennial event despite the increasing cost of travel.
We revealed flight bookings from Australia to Paris between Monday 22 July and Monday 12 August 2024 are 123 per cent higher than the same time last year – a spike that underscores the Games’ pulling power on the business world. With bookings to Paris still going strong, we forecast this growth to climb to 200 per cent.
While the Games will predominately be held in the French capital from Friday 26 July to Sunday 11 August, Corporate Traveller figures also show a rise in flight bookings Rome around those key dates, pointing to a trend among Australian travellers to blend business and leisure. Flights to Rome from Australia are 16 per cent higher from 22 July to 12 August 2024 year on year.
Accor, preparing for the influx, reports that 71 per cent of its hotel rooms in the Games host cities, including Paris, are already booked, with occupancy expected to reach 85 per cent during the event. Among Accor's 650 hotels across France, a significant number are in Paris and other cities hosting the Games, ensuring a good selection of accommodations is still available for attendees.
The Games are expected to generate between Euro 6.7 and 11.1 billion (AUD $10.86 and $18 billion) in net economic benefits to the Paris region. An estimated 10,500 athletes are set to compete in 329 events with more than 15 million tourists expected to attend over the course of the event. At the 2020 Tokyo Games, by comparison, heavy COVID-19 restrictions meant the event was virtually spectator-free.
Tom says: “For corporates, the Games are one of the globe’s best networking opportunities, as they enable thousands of businesses from all corners to come together and foster key connections and partnerships.
“With the Tokyo Games delayed by a year, only to kick off to empty stadiums due to the pandemic, our high corporate flight bookings suggest a pent-up demand among foreign audiences.
“The fact that Corporate Traveller has already seen a 123 per cent hike in bookings for the Paris Games period amid an economic pinch also shows Australian businesses see the value in attending and investing in major events such as these.
“And with booking demand remaining high as corporates take advantage of still available flights and hotels, we expect our final figures around the two key weeks of the Games to double the year-on-year average.”
Tom further attributes the surge in corporate bookings to the nation’s personal vested interest in the Games. “With Brisbane hosting the 2032 Games, it’s likely that Australian businesses and corporates are looking to lay a strong foundational network for when the Queensland capital hosts the event in eight years.”
The Brisbane Games are forecast to drive $8.1 billion in benefits for Queensland and $17.61 billion across Australia.
Despite the escalating cost of doing business, Tom says that Australians are increasingly seeing the value in ’bleisure’ travel, alongside a swelling trend of corporate hospitality around major Australian sporting events.
Tom adds that Australians have an insatiable appetite for ‘bleisure’ travel, with recent Corporate Traveller flight figures revealing Aussie business travellers spend almost double the global average of nights away on work trips.
About Flight Centre Travel Group
The Flight Centre Travel Group is one of the world’s largest travel retailers and corporate travel managers. The company, which is headquartered in Brisbane, Australia, has company-owned leisure and corporate travel business in dozens of countries, spanning Australia, New Zealand, the Americas, Europe, the United Kingdom, South Africa, the United Arab Emirates, and Asia. ASX listed Flight Centre Travel Group (FLT) also operates the global FCM corporate travel management network, which extends to more than 100 countries through company-owned businesses and independent licensees, along with Corporate Traveller, the flagship business specific to the small-to-medium-sized enterprise sector. For more information, visit fctgl.com.
