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Cost Control Top of Corporate Agenda

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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,

http://www.travelmole.com/news_feature.php?news_id=2009540&c=setreg&region=2

 

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