Cost control top of corporate agenda
More travel managers cited cost control as a priority this year – despite reporting a more favourable economic climate.
The American Express Global Business Travel EVP 2013 Barometer reveals 87% of European travel managers said cost control was their main concern, up from 79% in 2012.
Traveller security is a priority for 64% of respondents.
Low cost carriers now account for 26% of total air spend for business travel, while travel managers still look to create savings by booking economy rather than premium class flights.
Three quarters (72%) of respondents expect their budgets to remain stable in the year ahead, while 18% expect them to increase. However, the increase is likely to be small – just over 0.8% on average.
Among those surveyed who expect an increase in their 2014 travel budget, 42% cited that travel budgets would be used to develop their business domestically – compared to just 31% in 2013.
In terms of reasons for travel, companies surveyed are increasingly attending conferences and exhibitions, with 63% citing this as a reason for travel (compared to 54% in 2012).
New business was cited by 57% as a reason for travel, compared to 63% last year.
The research was carried out among respondents from 583 companies throughout Europe who manage travel budgets ranging from under €250k to more than €3m.
Monday, December 23, 2013,