New insight from Business Travel Show Europe, has revealed nearly one third (32%) of corporates are unhappy with their travel management companies (TMCs) with 15% planning to change suppliers this year.
A further 3% of respondents not currently using a TMC are also planning to go to RFP with the hope of making an appointment before spring 2026.
95 corporate travel professionals responded to Business Travel Show Europe’s annual buyer survey. On the upside, 59% of respondents are happy with their TMCs, slightly higher than voting at the most recent ITM conference, which claimed just 50% of attendees thought TMCs were fit for the future.
Respondents were also asked, ‘What do you think about TMC consolidation?’
- 52%: It will reduce competition and be bad for buyers
- 32%: It will make the market more competitive and be good for buyers
- 16%: Don’t know
Business Travel Show Europe marketing director Jonathon Carter-Champman, said: “Cost is very much still king among corporates – they need to know their TMC can optimise ROI from their budgets, deliver the best supplier rates and value adds, all while providing a tech stack that helps them achieve sustainability targets, reduce compliance and leakage, and keep their travellers safe.”
Business Travel News Europe’s 29th annual guide to ‘Europe’s Leading TMCs’, featuring more than 120 travel management companies from across the continent. There was little change among the five largest TMCs operating in Europe, but there was plenty of movement further down the rankings as well as new entries.
The top five in Europe are:
- American Express Global Business Travel
- BCD Travel
- CWT
- FCM Travel
- Navan Group
Andy Hoskins, Business Travel News Europe editor in chief, commented: “Now in its 29th year, Europe’s Leading TMCs is an indispensable reference point for the business travel industry. It offers unparalleled insight into the continent’s top agencies and the changing dynamics of the travel management sector. Whether you’re a travel buyer assessing your options or a supplier tracking the market, this trusted annual guide continues to set the standard.”
Mark Frary, editor of Business Travel News Europe’s Leading TMCs ranking, said: “The 2025 Leading TMCs contains more information about the largest number of travel management companies across Europe than ever before. Our research for this must-read resource for travel managers and others in the business travel sector shows TMCs are growing fast, investing heavily in technology, particularly artificial intelligence, and recognise the importance of a greater focus on corporate customers.”
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