Published by Mark Smith-HalvorsenThe UK business travel market has been hurt by the cuts made to travel budgets across all industries, according to the Business Travel and Meetings Show (BTMS).Commenting in response to new figures showing a sharp contraction in inbound business travel volumes, David Chapple, the event director of the show, said that fewer journeys were made in 2009 and less money was spent on flights and accommodation as companies tried to manage overheads in difficult circumstances.The latest figures from the Office for National Statistics showed a 24 per cent contraction in the business travel market in 2009.However, Mr Chapple added: "Most are considerably more optimistic for next year and this uplift in mood has been reflected in the upturn in bookings for BTMS, from regular, new and returning exhibitors."For those looking to manage their travel budget more effectively, buying foreign currency well in advance could help to avoid uncompetitive exchange rates.For more information on commission free travel money, visit our Travel FX site