BCD Travel aims to double its UK business by 2030 after identifying the country, along with India, as an ¡°extraordinarily important¡± opportunity in the company¡¯s five-year growth strategy.

In plans described to BTN Europe today by BCD¡¯s global CEO, Stephan Baars, and managing director for the UK and Ireland, Claudia Jackson, the company intends to ¡°double-down¡± on the sectors in which it already excels, including life sciences, financial and professional services, and media and entertainment, as well as automotive, retail, food and SMEs.

The travel management company posted UK sales of ?860 million in 2024 and is now targeting ?1.72 billion by 2030. BCD currently has around 500 customers in the UK, 700 employees, and a client retention rate of 98.98 per cent year-to-date.

¡°The UK is core to the company¡¯s overall growth strategy. The market is vibrant, there is an entrepreneurial spirit, lots of SMEs, and lots of multinational companies [are] headquartered here,¡± said Jackson. ¡°It¡¯s also a very sophisticated market, a mature market, with lots of long-haul travel, and clients have well-constructed views on what they want from us. We believe we have the right people and technology and the right global backing, and an opportunity to double in size by 2030.¡±

Jackson also conceded that the travel management company has been ¡°a little bit low key in this market¡± and needed to be ¡°at the top of the list¡± when corporates go out to RFP. ¡°We are on a great foundational footing to grow in the UK. There is headroom for growth here and the way we¡¯re going to do it is to live out our ¡®faster, bolder, stronger¡¯ mantra.¡±

¡°We know that clients who know us really value our trustworthy, open, honest, flexible approach. But we also know that for some clients, particularly those who maybe aren't immersed in the travel industry, BCD may not be the name that comes to their mind first. And that's a change for us, to make sure that we go out there loud and are thought of.¡±?

Baars did not rule out acquisitions as a means of achieving its growth ambitions, indicating only that its M&A strategy in the UK must be aligned with that of the wider company. ¡°There is acquisition potential overall as BCD ¨C we have the financial strength and the support of our shareholders. So we are definitely looking into opportunities that will fit our strategy,¡± he said. Jackson added: ¡°We will do it if it adds value to what we can offer to our clients ¨C we won't do it to simply grow.¡±

BCD also stands to benefit from the impact of other industry mergers and acquisitions, said Baars. ¡°We are attractive for a lot of customers that might be part of other consolidations right now as well,¡± he added. ¡°When consolidation has happened in the past, customers were looking for alternatives and there we believe BCD plays a very important role.¡±?

Baars also noted that while RFP activity is already picking up since the completion of American Express Global Business Travel¡¯s acquisition of CWT, he does not believe the UK market necessarily presents a greater opportunity than any other in which to win business as corporates determine their next move. Nevertheless, ¡°the UK pipeline is as full as we've seen it in recent years,¡± he said.

Although the company has onboarded some 1,600 employees globally in the last ten months, a UK recruitment drive is not currently planned.

Meanwhile, Baars said the company sees ¡°huge potential¡± for growth in India as the country moves from a service-based economy to a production industry, with a TMC landscape occupied by ¡°lots of smaller, local players¡±.?Additional countries that ¡°aren't quite ready yet¡± could be added to BCD's list of significant opportunities in the future, he added.

Baars described the company¡¯s five-year plan as a ¡°vision of where the industry needs to go and where BCD needs to invest¡­ and is driven by what clients are telling us,¡± but declined to share the company's overall 2030 objectives.?

He added: ¡°We wanted to put that in a long-term plan with the flexibility of a family company. We are not driven by quarterly results. We can look long-term into what we need as a company. We need to have a North Star which is driven by engaged employees and by outstanding technology which will support our growth.¡±

BCD Travel achieved global sales of $22.9 billion in 2024 and in Europe recorded €6.41 billion in sales, putting it second only to American Express Global Business Travel in BTN¡¯s annual ranking of the continent¡¯s largest travel management companies. The UK was its second-largest market in Europe last year, behind Germany where it recorded sales of €1.57 billion.

? Stephan Baars also spoke exclusively with BTN Europe about recent industry developments, including Amex GBT and Concur¡¯s new partnership and its implications for BCD Travel. That interview will be published by BTN Europe shortly.