Relocation Volumes & Budgets

RELOCATION VOLUME & BUDGETS

In general, 2019 was positive for the relocation industry; roughly nine out of ten organizations indicate both volumes and budgets either held steady or increased.

More than half of mid-size firms reported budget increases compared to just 43% of smaller and larger firms. Prior to the COVID-19 pandemic, projections for 2020 were similarly optimistic. Roughly four out of ten organizations expected increases in volumes and budgets for 2020, with mid-size firms holding the greatest expectations for growth. Expectations were mostly in line with last year’s experiences across company size; however, small firms hold markedly less optimism for volume increases. Firms of all sizes expected growth or stability for volumes and budgets, and few expected decreases—all before the dramatic events of the spread of coronavirus across the globe.

Among firms relocating employees internationally, 44% saw increases in international volumes last year and 44% expected increases in 2020. Only around one-fifth saw decreased volumes last year and one-sixth expected decreased international activity in 2020. While projected increases outpaced decreases roughly three-to-one, both the pandemic and Brexit create marked uncertainty. One-fourth of firms moving employees internationally are unsure of Brexit’s impact on 2020 volumes, and the global pandemic was not on the radar as a significant global threat until a few months into the new year.

Question 1