Spending on business travel continues to grow this year. But the biggest chunk of that money continues to go for airfare and lodging costs, according to a new study.
But at the same time, business travelers are spending less on food.
Mike Hilton, co-founder of the study by Concur, said the drop in dining costs could reflect the business world’s desire to continue to approve business trips but reduce overall travel expenses.
"The reality is that for most companies, when the price of air travel goes up, they try to get cost savings from somewhere else," he said. "Instead of eating at a nice steakhouse, you are dropping it down a notch or two."
The study found that average lodging charge was about $89, up about 4% from 2010. Together, airfare and lodging represented almost 54% of travel costs in the US.
Meanwhile, the average food expense entry was about $38, a 4% decline compared with the previous year.
Concur is a prominent provider of integrated travel and expense management solutions.
By David Wilkening
