TMG says Far East and South America boom helped with 25% turnover leap

TMG Corporate has reported a 25% increase in turnover for 2010, citing an increase in business travel to the Far East and South America as a key driver.

TMG predicts strong 2011 after 25% turnover leap
TMG predicts strong 2011 after 25% turnover leap

The Leamington-based event agency said the results were a positive sign for the economy as a whole.

TMG Corporate director Guy Dunwoody said: "In the past, the business travel sector has acted as a barometer for the economy and we are hopeful this will again be the case.

"We were the first sector to feel the effects of the recession, and were also the first to come out of it, so we are hopeful our strong finish to 2010 is an indication that 2011 will be more positive for business."

TMG is now planning to appoint five new travel consultants in the next few months.

"We have noticed a considerable increase in bookings on scheduled airlines and a move away from the no-frills carrier. Likewise, the long haul routes are proving increasingly popular and the emphasis on the Far East and to South American countries such as Brazil, would indicate to us that export markets are opening up again," added Dunwoody.

He warned, however, that the recent VAT increase could cause problems for travel companies.

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