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TREND WATCH

Wednesday, 20 June, 2012, 16 : 00 PM [IST]

Spend Trend: Where Business Travelers Spend Money

With the struggling economy a lingering dark cloud over the business world, travel budgets are being slashed as a cost-cutting measure and it has become increasingly important for businesses to keep track of employees’ travel spending patterns. TravelBiz Monitor presents, Spend Trend: Where Business Travellers Spend Money, a report by Concur revealing Travel and Entertainment (T&E)spending trends in business travel
Key Findings Summary

Average global airfare spend saw the biggest increase in 2011, rising by an average of $21.74 per trip or just over 5% compared to 2010, even taking into consideration a slight dip in the final quarter of 2011.

Global average lodging spend is up slightly in 2011 compared to 2010, while dining was down slightly.

Highlights for average costs of specific line items include:
Airfare: Hong Kong has the highest cost at $1,112.35, and India has the lowest at $263.29.
Lodging: Australia has an average of $240.57, and the U.S. has the lowest at $89.03.
Dining: Australia is the costliest at $64.98, and India is the least expensive at $22.48.

The top three global T&E categories – airfare, lodging and dining – comprised more than 60% of total spend. Adding the next two categories – entertainment and ground transport – brings the total to more than 70%.

The most visited international city in 2011 is London, followed by Shanghai, Singapore, Beijing and Toronto.

Top 10 Most Expensive International Cities for Business Travel

This list represents the most expensive cities based on the average cost for dining, entertainment and lodging.

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Top 10 Spend Categories – International

Globally, average spend for most T&E is up slightly, with airfare, lodging and ground transport leading the way. There’s a slight decrease in average dining spend, while other categories remain relatively flat.

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Average Spend in Most Visited Cities

These tables represent lists of the most visited cities as measured by hotel nights, and the average amount spent on the most common line items.

Top 25 Most Visited International Cities*

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*ranked by number of overnight hotel stays

India’s Top 10 Spend Categories

Lodging is the dominant area of spend for India, outpacing airfare spend by more than half. Both airfare and lodging decreased as a percentage of overall spend, but the average spend on entertainment increased by almost 22%.

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Lodging Accounts for 40% of the Spend in India

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