United Kingdom
United States
Asia Pacific
Travel managers using card data to save
Travel managers who use card data for negotiations yield an average reduction of nearly 9% in annual travel costs, says the 2004 Corporate Travel Card Benchmark Survey.
“The typical company with a travel budget of $50 million that used card data in vendor negotiations generated annual cost savings of $4.26 million through use of corporate travel card spending data,” said University professors Nahendra Gupta and Richard Palmer.
Eighty-four percent of respondents forecast a rise in spending on corporate cards. They said they expected average volume to grow by 19% in the next years, 35% over the next three years, and 56% over the next five years.
The study found that 28% of expected growth can be traced directly to increases in travel budgets. But other factors are also spurring companies to put more volume on their cards. Some companies are expanding their card spending to other areas, as well as mandating that type of spending.
Report by David Wilkening
Related News Stories:
David
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Unexpected wave rocks cruise ship
Storm Lilian travel chaos as bank holiday flights cancelled