Companies Will Spend $1.25 Trillion on Business Travel This Year
63% of American firms increased their business travel spend in 2015, bringing the global total way, way up from previous years. But while the total market has risen dramatically, the expenditures are taking different forms than in decades past. The Association of Corporate Travel Executives (ACTE) reports that while employers are saying yes to more travel, they are pinching pennies when it comes to each individual trip.
Centralized booking systems are now the norm in the corporate world, and on-the-road expenses often must meet rigorous qualifications to be fully reimbursed. Upgrades to hotel rooms and even the nicer cabin classes of flights have been some of the first perks to be pulled in this brave new world.
What do all of these restrictions and perk-prunings mean for the actual employees themselves? Well, business travel is getting harder. Airport security takes longer, and while Wi-Fi onboard flights sounds like a technological marvel, business travelers are increasingly expected to put that juice to use and work during their flights. But even so, more than 50 percent of business travelers are reportedly happy with all of this traveling, and one-third of them would like to spend even more time on the road next year.
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