Uber overtakes taxis as preferred choice for business travel
The sharing economy is catching up fast to conventional modes of ground transport and accommodations for business travelers, a new report suggests.
The report says Uber has overtaken taxis in the second quarter of this year as the number one choice among road warriors.
Travel and expense management company Certify looked at millions of expense reports and said 31% of ground transportation receipts were from Uber, 24% from taxis, and 45% from rental cars.
At the same point last year, Uber had only 8% market share.
It said Chicago, Miami and San Francisco were the markets showing the largest growth in ridesharing services.
The report also said Airbnb’s share of the business travel market jumped 143% compared to the previous quarter.
"It’s clear that the sharing economy is here to stay for business people," says Robert Neveu, CEO of Certify.
"We believe this market shift is based on both convenience and price, since these newer services are typically more cost-effective compared with traditional vendors. Established travel providers will need to adapt quickly or face further market share erosion to the sharing economy."
The top cities for Airbnb stays for business travelers were San Francisco, Chicago, Seattle, Miami and Tampa, the report said.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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