The corporate divisions of the Flight Centre Travel Group (FCTG), including FCM and Corporate Traveler, achieved a record-breaking total transaction value (TTV) of $2 billion for the first quarter of fiscal year 2024, the company reported at its annual general meeting. The company as a whole reported an increase in first quarter TTV of 20% over 2022 to $3.9 billion, just below the record set four years ago.

The organic growth that has fuelled the rapid recovery to date, according to the company, has continued with FCM securing new contracted accounts with projected annual spending of $367.7 million already this year.

Charlene Leiss, president of the Americas, FCTG, said there has been a strong resurgence in the US as travelers “have returned in a big way throughout the country.” The small-to-medium sized enterprise market in the US, one of the fastest-growing segments within the industry, has particularly been strong of late, she said.

To coincide with the return of normal business operations over the last year, said Leiss, the company has strategically expanded its footprint and strengthened its sales, customer success and operational teams, especially in the east, midwest, and west. Corporate Traveler, she said, reported that Boston, New York, Los Angeles, London, and Chicago have been the top destinations for travelers, while the industries spending the most on travel have been pharmaceutical, finance/banking, charity/non-profit, biotechnology and technology.