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.
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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