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CEOs burning more business miles
More than 40% of chief executives are travelling more for business – and are going further.
Research out today from Barclaycard Business shows that bosses are travelling 69% further for business purposes. They are travelling 841 miles a week, a rise of 342 miles on last year.
According to the 10th annual Barclaycard Business Travel Survey, 41% of CEOs say that they are travelling more for business this year. Just under half (45%) of these attribute the increase to business expansion overseas while around one in five (22%) cite expansion within the UK.
However, one in five (22%) CEOs now believe they are travelling less for business than this time last year. A third (32%) of these are making a concerted effort to improve their work/life balance while two thirds (67%) are turning trips from business to pleasure by taking partners with them.
Increased technology use over the next decade will cause a decline in shorter business trips which in turn will reduce the number of days spent away from home.
Currently, innovations in technology help over half (51%) of CEOs to do this. Teleconferencing (28%), video-conferencing (25%) and remote access/virtual private networks (26%) are all cited as key influencers.
The survey also predicts that over the next 10 years, trade in the UK will become more global and therefore long haul travel will be on the increase.
When asked which three areas they have travelled to over the past year, CEOs revealed the following:
UK and Ireland 75%
Western Europe 64%
US and Canada 35%
China 14%
Asia Pacific 12%
Eastern Europe 12%
Tim Carlier of Barclaycard Business said: “Our study shows that the majority of CEOs are travelling more due to overseas business expansion, so it is no surprise that there is a dramatic increase in miles travelled per week. Despite the majority of CEOs covering greater distances for business travel, the trips they take are less regular than the shorter ones taken in the past.”
Report by Phil Davies
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