Europe*s Leading TMCs 2025


The essential guide to the continent*s top travel management companies


Published: 23 June 2025


As new names rise up the rankings and others disappear, Europe*s diverse TMC ecosystem proves there*s no one-size-fits-all in corporate travel. Now in its 29th year, this latest edition of Europe's Leading TMCs provides an indispensable rundown of the leading agencies in Benelux, France, Germany, Italy, the Nordics, Spain and the UK 每 together with an overall ranking of the continent's 50 largest travel management companies 每 and extensive analysis of each of these key markets. It features profiles of more than 130 organisations, as well the findings of a survey into TMCs' hopes and expectations for the year ahead. Explore the report via the articles below.


Introduction & Methodology
Introduction & Methodology

SMOOTH SAILING? Turnover's up for many travel management companies and technology is transforming operations, but geopolitics and policy shifts could yet rock the boat

Europe's Leading TMCs 2025
Europe's Leading TMCs 2025

NEXT GENERATION As new names rise up the rankings and others disappear, Europe*s diverse TMC ecosystem proves there*s no one-size-fits-all in corporate travel

Benelux's Leading TMCs 2025
Benelux's Leading TMCs 2025

MAKING HEADWAY International rail is booming and economies are growing 每 albeit modestly 每 as Benelux business travel maintains a positive, if measured, trajectory

France's Leading TMCs 2025
France's Leading TMCs 2025

OPPORTUNITY BECKONS From Olympic peaks to fragmented content, France's business travel sector is bedding down following a busy 2024

Germany's Leading TMCs 2025
Germany's Leading TMCs 2025

LESS IS MORE Fewer trips but higher prices 每 Germany's business travel market adjusts to economic stagnation as trade tensions and weak GDP take their tool

Italy's Leading TMCs 2025
Italy's Leading TMCs 2025

BACK ON TRACK Italy's travel management companies see growing demand and rail gains, but margins, talent and geopolitics remain hurdles

The Nordics' Leading TMCs 2025
The Nordics' Leading TMCs 2025

UP IN THE AIR Nordic travel management companies face economic jitters, geopolitical tension and possible merger fallout, but the sector is holding firm

Spain's Leading TMCs 2025
Spain's Leading TMCs 2025

MIXED PICTURE Spain's economy has been outperforming much of Europe's, but business travel spending and trip volumes have slipped while regulatory clouds hang over a handful of TMCs

The UK's Leading TMCs 2025
The UK's Leading TMCs 2025

MOVING THROUGH THE GEARS After a bumper year for business travel spend, UK TMCs face new tech expectations, geopolitical uncertainty and some lingering staffing concerns

Europe's Leading TMC Networks 2025
Europe's Leading TMC Networks 2025

BETTER TOGETHER Small and mid-market travel management companies are increasingly recognising the benefits and opportunities of network membership


Shortcuts to all TMCs featured in Europe's Leading TMCs 2025 (A-Z)



Take a look at previous years


Europe's Leading TMCs 2024
Europe's Leading TMCs 2024

Business Travel News Europe's annual ranking of the leading corporate travel management companies in the UK, Germany, France, Spain, Italy and more... KEEP READING

Europe's Leading TMCs 2023
Europe's Leading TMCs 2023

Business Travel News Europe's annual ranking of the leading corporate travel management companies in the UK, Germany, France, Spain, Italy and more... KEEP READING

Europe's Leading TMCs 2022
Europe's Leading TMCs 2022

Business Travel News Europe's annual ranking of the leading corporate travel management companies in the UK, Germany, France, Spain, Italy and more.... KEEP READING

Europe's Leading TMCs 2021
Europe's Leading TMCs 2021

Discover the background to Europe's multinational TMCs whose presence span the continent, read analysis of the UK, French and German markets, and explore the mergers and acquisitions changing the... KEEP READING

Leading 50 TMCs 2020
Leading 50 TMCs 2020

At a time when social distancing, working from home and widespread bans on business travel are the norm, ranking the UK's Leading 50 TMCs might seem immaterial. But business travel will return, as it... KEEP READING