Business Travel Management Services Providers Statistics 2024

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Best Business Travel Management Services Providers Statistics

Best Business Travel Management Services Providers Statistics

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Business Travel Management Services Providers Benefits Statistics

Moreover, 60% of business travelers don’t even understand the benefits of their travel policy. ^[0]
With 65% of millennials viewing business travel as a status symbol, additional legroom, as well as other benefits, are things they desire. ^[1]

Business Travel Management Services Providers Market Statistics

India (11.3%) and Indonesia (8.7%). ^[2]
The app increased its market share among business travelers 70% between 2017 and 2018. ^[0]
The global market for business travel is projected to decline by 4.5% in 2021. ^[3]
The global market for business travel is expected to post a CAGR of 3% from 2020 to 2027. ^[3]
A business travel market report revealed that 40% of businesses still don’t have a travel policy. ^[3]
Business process management was a $3.38 billion market in 2019, and Mordor Intelligence projects a CAGR of 6.26%, with sales reaching $4.78 by 2025. ^[4]
The RPA market, valued at $1.4 billion in 2019, is forecast to grow at a CAGR of 40.6% between 2020 and 2027, according to Grand View Research. ^[4]
In 2019, DPA was a $7.8 billion market; it’s forecast by Mordor Research to grow at a CAGR of 13%, reaching $16.12 billion by 2025. ^[4]
Key statThe supply chain management market is expected to grow from $15.85 billion in 2019 to $37.41 billion by 2027, a CAGR of 11.2%.—Allied Market Research. ^[4]
No wonder the global market for accounting software is forecast to grow at a CAGR of 8.02% from 2018 to 2026, increasing from $11 billion to $20.4 billion. ^[4]
The productivity software market, which includes office and collaboration applications, was forecast to reach nearly $62 billion in 2020, with revenue predicted to increase at a CAGR of 6.8%, reaching $85 billion by 2025, says Statista. ^[4]
In late 2019, a report forecast that the supply chain AI market was poised to grow at a CAGR of 39.4% through 2027. ^[4]
But months after the COVID19 pandemic struck, Meticulous Research raised that forecast to an even more eye opening 45.3%, with the market reaching $21.8 billion in less than seven years. ^[4]
The analyst firm, which is forecasting that the worldwide RPA market will grow 19.5% from 2019 to 2020, to nearly $2 billion, also predicts that 90% of large organizations throughout the world will have adopted RPA in some form by 2024. ^[4]
Key statAt an expected CAGR of 19%, the market marketing automation software market is forecast to reach $16.87 billion by 2025.—Mordor Intelligence. ^[4]
Currently, the fastest growing business travel markets around the world are India, (11.3% growth). ^[5]
The global market share increased by 5.8% since 2016. ^[5]
This means that the country’s business travel spending growth rate of 8.7% is focused on the international market rather than the domestic. ^[1]

Business Travel Management Services Providers Software Statistics

In 2019, TravelPerk was named the world’s fastest growing software as a service company, achieving 122 percent growth during the year. ^[6]
On top of standard travel management tools, the Barcelona based software provider offers its clients FlexiPerk, a feature that guarantees a 90 percent refund on any booking changed or canceled for any reason. ^[6]
No wonder the global market for accounting software is forecast to grow at a CAGR of 8.02% from 2018 to 2026, increasing from $11 billion to $20.4 billion. ^[4]
The productivity software market, which includes office and collaboration applications, was forecast to reach nearly $62 billion in 2020, with revenue predicted to increase at a CAGR of 6.8%, reaching $85 billion by 2025, says Statista. ^[4]
Prices for RPA software will decrease 10% to 15% by the end of 2020 and 5% to 10% in 2021 and 2024. ^[4]
Key statAt an expected CAGR of 19%, the market marketing automation software market is forecast to reach $16.87 billion by 2025.—Mordor Intelligence. ^[4]

Business Travel Management Services Providers Adoption Statistics

Still, use of true AI in BPA is relatively low, though it has accelerated considerably in recent years, with enterprise AI adoption up 25%, according to McKinsey’s 2019 Global AI survey. ^[4]

Business Travel Management Services Providers Latest Statistics

Business travel statistics show that about 30% of job seekers are ready to accept lower paid jobs if they include business trips. ^[2]
According to the Global Business Travel Association, 1.3 million business trips are taken in the US every day. ^[2]
Almost 10% of business trips can be categorized as “bleisure” trips. ^[2]
Although business travel is on the rise, only 60% of companies actually have a corporate travel policy. ^[2]
While business travelers account for only 12% of flight tickets, they generate roughly twice as much money per person for airlines as non. ^[2]
Annual global business travel costs are set to rise to $1.7 trillion by 2024, according to what was then the National Business Travel Association. ^[2]
However, while most countries are spending more on business travel, the UK is going backward; there was a 3% decline in outbound business trips in 2018 due to concerns about Brexit. ^[2]
From 2017 to 2018, there was a 3% decline in outbound business trips from the UK. ^[2]
26% of all business trips are one day long, according to international travel statistics. ^[2]
Travelers are growing up quickly too; 40% of millennials now travel for work, and many choose jobs specifically because of the opportunity to travel. ^[2]
According to Bureau of Transportation statistics, 77% of people traveling for work are men. ^[2]
Although some sites claim that 47% of business travelers are women, according to the American Travel Bureau, the actual proportion of women travelers is just 23%. ^[2]
Nearly 40% of millennials travel for business. ^[2]
Travelers aged 18 to 29 take 16% of all business trips. ^[2]
55% of millennials prefer to prolong their business trips in order to have more time to experience new places and learn new things. ^[2]
Typically, companies’ business traveling budgets are distributed like this meals (21%), flights (17%), miscellaneous expenses (17%), and accommodation (13%). ^[2]
5% of total business travel costs go toward cell phones, while only 3% are spent on taxi services. ^[2]
About 405 million long distance business trips are made each year in America, according to US travel statistics. ^[2]
81% of all business trips are taken by car, while 16% are taken by plane. ^[2]
Distance plays an important role in determining which mode of transport should be used; 97% of short trips are taken by vehicle. ^[2]
Almost 10% of business trips can be categorized as bleisure trips. ^[2]
Nearly 60% of businesses support bleisure trips by encouraging employees to extend their business trips. ^[2]
Nearly 50% of business travelers extend their trips to visit other countries or cities. ^[2]
Traveling for work is the main reason about 30% of people would choose a lower. ^[2]
40% of business travelers don’t follow their companies’ travel policies. ^[2]
During the survey, 45 percent of respondents stated that they used Concur’s business travel management services. ^[7]
CharacteristicShare of respondents Concur 45% BCD Travel. ^[7]
International mobility decreased by 65% due to COVID19 the lowest rate of travel since the introduction of the Boeing 707 in 1958 which marked the start of the Jet Age. ^[8]
It’s estimated the travel industry will lose $820 billion of corporate travel spending due to the coronavirus pandemic. ^[8]
While business travel was down by 90% at the height of the pandemic, some companies saw work travel return to about 80% of pre pandemic levels when restrictions eased over the summer. ^[8]
In 2020 hotels were at 29% occupancy worldwide, compared with 72% occupancy over the same period in 2019. ^[8]
In 2020 travel managers reported annual travel spending was only 5 15% of the previous year’s totals. ^[8]
After losses of 52% in 2020, corporate travel is predicted to generate $842 billion in spending in 2021. ^[8]
30% of employees would accept roles with a lower salary if the position offered more opportunities to travel. ^[8]
64% of workers believe inperson contact is vital for building trust, with 53% stating they have more faith in faceto face sales situations than online prospectors. ^[8]
53% of survey participants believe their industry requires faceto. ^[8]
HR teams, in particular, think that in person contact is crucial, with 67% of respondents stating their sector would collapse if meetings were forced online. ^[8]
Virtual meetings may not reap the best results, with 60% of employees claiming they prepare more for faceto face meetings than online alternatives. ^[8]
Almost 100% of corporate travelers enjoy the time they spend traveling for work. ^[8]
90% of corporate travelers want to carry on taking work trips for the duration of their career. ^[8]
In Europe, domestic travel in Germany was at a low point back in April 2020 at only 8%. ^[8]
However, by September, this reached 71% of pre. ^[8]
Something similar happened in Spain, wheredomestic travel wasas low as 1% in April and rose to 45% in Septemberwhen the restrictions were relaxed. ^[8]
U.S. business travelers are leading the charge at 47% recovery as of January 2021. ^[8]
That’s followed by Spain at 25% domestic recovery, and Germany at 12%. ^[8]
Domestic business travel in China is already bouncing back in fact, only 2% of respondents to thisMcKinsey reporthad taken a domestic business trip before May 2020, whereas 25% of respondents had taken one by August of the same year. ^[8]
According to our own survey, 50% of companies have implemented new corporate travel policies for the next normal. ^[8]
In a 2020 survey, 30% of participants believed their organization would spend 30% of their annual travel budgets on client meetings in 2021, increasing 6% on 2019 spending. ^[8]
In the USA, 47% of business travelers are now women. ^[8]
Our own data shows that 80% of domestic trips in Germany are being booked on trains. ^[8]
Furthermore, nearly 50% of passengers now find reducing their carbon emissions and sustainability more important than they did before COVID. ^[8]
Airfares could rise by as much as 54% in a post. ^[8]
In 2020 the breakdown of spending for business trips was 34% for accommodation, 27% for air tickets, 27% for meal costs, and 19% for car rental. ^[8]
85% of them booked low cost airlines in 2018. ^[8]
74% of millennial travelers have stayed in a rental property while on a business trip compared to 38% of Generation X travelers and 20% of baby boomers. ^[8]
44% of millennials stated they preferred staying in Airbnb style rentals while traveling for work. ^[8]
On average, tech companies report 13% of itineraries are not technically compliant with travel policies compared to 16% from consulting firms. ^[8]
When surveyed, 98% of travel managers claim the most significant metrics are policy compliance, traveler experience, and expenditure. ^[8]
30% of European corporate travelers fly once per month. ^[8]
5% travel 21 to 40 times per year. ^[8]
44% of European corporate travelers fly to visit with a customer. ^[8]
32% fly to visit another company office in a different city. ^[8]
Meals account for 21% of business travel spending, while airfares account for 17%. ^[8]
In the USA, personal cars are used for 81% of business trips. ^[8]
50% of European corporate business trips are for parties of two or more. ^[8]
26% of European business travelers report a direct connection as the top factor influencing their decision when selecting flights. ^[8]
Other primary considerations were price (19%), convenience with existing schedules (23%), and airport location (20%). ^[8]
An estimated 28% of current business would be lost if business travel were suddenly cut off. ^[8]
However, only 13% of corporate travel managers actively measure trip success rate and trip ROI. ^[8]
80% of corporate travel managers believe that a standard system of measurement would positively impact corporate travel. ^[8]
81% of travel managers measure booking statistics like advance bookings, hotel attachment, and booking issues. ^[8]
Only 37% of travel managers measure travel engagement. ^[8]
94% of corporate travel managers rely on a TMC or travel agency for reporting. ^[8]
Only 61% of corporate travel managers use traveler surveys as part of their travel management metrics. ^[8]
59% of U.S. business travelers always book their hotel themselves and 30% usually book their hotel themselves. ^[8]
In another survey, 69% of business travelers report that they book travel themselves regardless of the type of booking. ^[8]
While desktop bookings still reign supreme, 79% of corporate travelers have completed a business trip booking on their mobile device. ^[8]
79% of travel industry businesses saw an increase in revenue when they provided live chat. ^[8]
80% of frequent business travelers feel that they deserve to make time for fun activities during most of their business trips. ^[8]
And fortunately, 79% of them feel that their boss agrees. ^[8]
86% of business travelers say that they know how to successfully manage their personal lives while away from home. ^[8]
61% of travel managers have a system in place to measure their traveler’s satisfaction. ^[8]
22% of business travelers would like travel suppliers to remember their personal details for the future. ^[8]
67% of travelers would like travel companies to make recommendations based on their previous preferences. ^[8]
Over 50% of travelers would appreciate real time notifications and for airlines to rebook their flights automatically. ^[8]
Post lockdown, the most significant factor for 70% of business travelers when booking airfares is flexibility. ^[8]
Other key variants are onboard sanitation (63%), flying direct (61%). ^[8]
European corporate travelers rank the most tiring aspects of business travel like so 27% say waiting time is the most tiring while 25% choose no direct flights, 22% say riding to and from the airport, 16% say early departure times or late arrivals and. ^[8]
10% say the flight itself. ^[8]
35% of European corporate travelers report that having to spend less time at the airport is the number one thing they wish they could improve. ^[8]
23% would like to spend less time on the way to the airport. ^[8]
26% want better availability of direct flights and the remaining 16% want greater flexibility with their schedule. ^[8]
75% of millennial business travelers think that traveling for work is a perk. ^[8]
65% of millennial business travelers see it as a status symbol. ^[8]
34% of surveyed employees revealed they have their most innovative ideas while traveling for work. ^[8]
When analyzing the data from 1624year old respondents, this number jumps to 53%. ^[8]
72% of millennial business travelers are satisfied with their ability to book business travel on a third. ^[8]
28% of millennial business travelers book hotels directly on a hotel’s website. ^[8]
10% book hotels through an OTA like Expedia. ^[8]
7% book with a third party reseller like Kayak. ^[8]
14% book with a travel agent. ^[8]
43% of millennials have extended their business travel trip for leisure. ^[8]
78% of millennials have purposefully carved out personal time during a business trip. ^[8]
57% of companies have a policy in place for employees who wish to extend their business trip with vacation time. ^[8]
Millennial men are twice as likely to believe they should avoid having fun on a business trip, 41% versus 20%. ^[8]
Bleisure trips grew 20% from 2016 to 2017. ^[8]
More than 40% of business trips are extended for leisure purposes. ^[8]
Bleisure travelers are typically frequent business travelers 32% of bleisure travelers travel for work once or twice per month. ^[8]
43% of trips for these types of events will turn into bleisure trips, while 24% of trips for team offsite meetings and 9% of sales trips will be a bleisure trip. ^[8]
84% of bleisure trips that are less than three days take place in one city, while 20% of bleisure trips that are longer than three days take place in more than one city. ^[8]
66% percent of bleisure travelers say it’s because they like the destination and want to explore it. ^[8]
51% said they turn business trips into bleisure trips based on the proximity to the weekend. ^[8]
Each year, the proportion of business travel spend grows by about .05%. ^[8]
In 2017, the most recent available year, business travel accounted for 30% of all travel spend in the U.S. ^[8]
While business travelers typically make up just 12% of all flyers, they are twice as profitable to airlines because they are loyal and use frequent flier programs, buy amenities like extra legroom, and also book more flights with less notice. ^[8]
Each year 19% of U.S. travelers will board a first class flight for leisure. ^[8]
Meanwhile, 20% of US travelers will fly first class for a business trip in the span of one year. ^[8]
60% of companies have acorporate travel policyin place, and 50% of companies allow travelers to book using any method they choose. ^[8]
46% of business travelers have booked hotels on consumer sites because they found a better price. ^[8]
52% of employees feel their organization’s corporate travel policy moderately aligns with the company’s wider culture. ^[8]
Only 69% of business travelers feel they can comply with their organization’s corporate travel policies. ^[8]
Anadvanced booking solutioncan assist organizations in raising their compliance to 100% through powerful automation systems. ^[8]
Let’s start with a statistic right away travel and tourism accounts for 10.4% of global GDP, and nearly 10% of jobs. ^[0]
In Q2 2020, US airlines reported a greater than 90% reduction in business travel. ^[0]
Company travel managers report business trip spending to be between 5 15% of 2019 levels. ^[0]
Estimates in June predicted that global airline revenue will fall by $419bn USD in 2020. ^[0]
Business travel spending was expected to grow 7.1% in 2018, and top $1.7tn USD by 2024. ^[0]
76% of those travelers who fly do so to meet a client or visit an outof. ^[0]
30% of business flyers take wing once per month, while 62% only travel once per year by plane. ^[0]
30% of workers (and 43% of Indians). ^[0]
Apparently, 39% of Millennial and Gen Z workers wouldn’t accept a job that doesn’t let them travel. ^[0]
In one survey, 90% of respondents said that business travel is essential to company growth. ^[0]
And a staggering 92% of business travelers enjoy their quality of life while traveling for work. ^[0]
90% wanted to continue travelling for business for the rest of their career. ^[0]
57% of travelers want to use a single app to plan, book, and track travel. ^[0]
But 50% of business travelers don’t use the travel booking solution provided by their company. ^[0]
Google / PhocusWright Over 70% of travelers in the U.S. always use their mobile phones while traveling. ^[0]
In one survey, more than 50% of travelers say they don’t always follow company policy when booking. ^[0]
When asked why, 37% say the reason is convenience, 35% say price, and 26% say that the prescribed travel brands are not practical for a particular trip. ^[0]
And only 23% of business travelers say that meeting company policy is the top priority when booking a hotel. ^[0]
Only 62% of business travel bookings in the U.S. comply with company policy. ^[0]
48% of corporate travelers say that the most important aspect of a travel program is the ability to book for themselves. ^[0]
49% of global business travelers aren’t able to book far enough in advance to meet company policy. ^[0]
In fact, 23% of business travelers wait until the week before departure to book domestic trips. ^[0]
AirBnb for Work makes up 15% of all AirBnb bookings. ^[0]
But 79% of companies have not incorporated AirBnb into their booking procedures, and 54% have no plans to do so. ^[0]
60% of AirBnb work trips involve more than one guest. ^[0]
In fact, Uber now accounts for 11% of entries in American expense reports. ^[0]
For ridesharing business travel, Uber accounts for 74% of all trips, while Lyft makes up 19%. ^[0]
Amazingly, taxis now only represent 7% of ride hailing trips in the US. ^[0]
Business travel accounts for 22.2% of travel and tourism’s contribution to European GDP. ^[0]
In 2017, 58% of nights spent by non EU residents in Europe were spent in France, Italy, Spain, and the United Kingdom. ^[0]
Western Europe overall saw 4% growth over 2016 levels including 5.6% growth in Germany, 3.9% in France and 6.3% in Spain. ^[0]
Key details about the corporate travel industry in the U.K. Image source Office of National Statistics Business travel to and from the U.K. actually decreased 0.7% in 2017. ^[0]
Over 40% of business trips in the past year also include a leisure portion. ^[0]
69% of Asian work travelers are given freedom to choose their airline or hotel. ^[0]
About 10% of all business trips are designated “bleisure trips.”. ^[0]
49% of business travelers choose to extend trips to spend more time in a destination. ^[0]
70% of 25 to 35 year olds desire to extend corporate trips for leisure reasons. ^[0]
“Bleisure” travel was up 20% in 2017. ^[0]
40% of 2017 bleisure trips were for workers in manufacturing, tech, or financial services. ^[0]
57% of companies allow employees to extend business trips as part of their travel policies. ^[0]
80% of business travelers set aside personal time while traveling for work. ^[0]
But 38% of travelers think that shouldn’t tell their boss about these bleisure aspects. ^[0]
saw a 45% increase in 2017, while EMEA was up 46%. ^[0]
On average,companies spend 17% of their total travel budget on airfare. ^[9]
Of all business trips,more than 40%included a portion dedicated to leisure. ^[9]
Nearly half of business travelers (49%). ^[9]
According to the company’s website, CWT has enough clients to fill more than 100,000 hotel rooms and handle over 100 meetings and events every day. ^[6]
TravelBank claims that by joining its travel rewards program a company can save up to 30 percent on each trip. ^[6]
Business travelers make up 12% of an airline’s passengers, but they represent 75% of the profit. ^[3]
In a survey, 45% of respondents said that their company canceled most international business trips to the U.S. as a result of the pandemic. ^[3]
U.S. airlines reported a 90% reduction in business travel in Q2 2020. ^[3]
As of September 2020, China’s number of domestic passengers reached Corporate travel spending 98% of 2019 levels. ^[3]
The average business travel budget consists of money for lodging (34%), airfare (27%), meals (20%), and car rentals (19%). ^[3]
Domestic flights in the U.S. are 41% lower on average because of the COVID. ^[3]
70% of corporate travelers said that their most important consideration in booking airline tickets after COVID 19 is flexibility in cancellation and changing ticket conditions. ^[3]
This is followed by special measures to ensure onboard hygiene (63%), availability of direct flights (61%). ^[3]
Personal cars are often utilized for 81% of business trips. ^[3]
New demand for road trip travel has led car rental rates in the U.S. to decrease by approximately 15% in 2020. ^[3]
65% of users stopped using ridesharing services in the U.S. due to the COVID. ^[3]
40% of hotel guests are business travelers. ^[3]
In 2020, the average hotel room price dropped significantly by 32% to $186 per night compared to $274 per night in 2019. ^[3]
When it comes to accommodations, business travelers pay attention to quality (44%), trustworthiness (38%), convenience (40%), quietness (30%), affordability (28%), and coziness (28%). ^[3]
90.6% of corporate travel managers believe that business travel is crucial to company growth. ^[3]
On the other hand, 91.3% of business travelers said that business travel is crucial to company growth. ^[3]
79% of employees say that business travel experience has an impact on their overall job satisfaction. ^[3]
83% of employees say that business travel is a job perk. ^[3]
65% of travelers are willing to provide additional personal information to accelerate processing at the airport. ^[3]
22% of frequent travelers want travel companies to remember their personal data. ^[3]
67% of modern travelers expect brands to help them make good travel decisions based on previous travel information. ^[3]
55% of business travelers are willing to pay out of their own pocket to get upgrades for accommodations, car rentals, and airline seats. ^[3]
Travelers say that their experience can be improved using real time and accurate travel notifications (55%) and automatic flight rebooking (53%). ^[3]
A business travel report revealed that 79% of business travel managers say that partnering with travel management companies can lead to more efficient processes and higher savings. ^[3]
80% of corporate travel managers say that having a system of measurement can benefit corporate travel initiatives. ^[3]
98% of corporate travel managers say that the most important metrics to measure are traveler satisfaction, policy compliance, and savings and expenditures. ^[3]
These are followed by booking statistics (96%) and traveler engagement (90%). ^[3]
Bleisure trips have increased by 20% between 2016 and 2017. ^[3]
Business travelers enjoy exploring new places and cultures (41%) more than meeting with clients and teams (17%). ^[3]
80% of corporate travelers make sure to squeeze in fun activities while on a business trip. ^[3]
Almost half of the corporate trips (40%). ^[3]
82% of travelers expect support from their superiors when taking a break on business trips. ^[3]
This means including a budget for extracurriculars (74%) and giving them the option to bring a guest on the trip (38%). ^[3]
Moreover, they want to be provided with the flexibility to extend their trips for leisure (34%) and given a budget for exercise and similar lifestyle activities during the trip (24%). ^[3]
37% said that leisure activities should have an equal length as business activities during a corporate trip. ^[3]
60% of business travelers are male. ^[3]
Meanwhile, 50% are older than 45 years old. ^[3]
Employees go on business trips to attend conferences (62%), to meet with other companies for business planning (56%), for professional development (44%), to meet with coworkers in a different location (40%), and to pitch new products (30%). ^[3]
The top 10% of business travelers spend an average of 88 nights away from their homes per year. ^[3]
50% of business travelers from Europe go on trips alone. ^[3]
65% of business travelers who are millennials view corporate trips as a status symbol. ^[3]
56% of millennials create reasons to go on business trips. ^[3]
Moreover, 69% of them want to extend their trip for leisure. ^[3]
Also, 85% of them booked budget flights instead of choosing business class seats. ^[3]
78% of Millennials intentionally make time for leisure on business trips. ^[3]
60% of corporate travelers say they don’t understand the need for a company travel policy. ^[3]
27% of business travelers say that their company’s travel policy is ill. ^[3]
52% of employees say that their company’s travel policy only moderately aligns with their company culture. ^[3]
69% of business travelers comply with corporate travel policies. ^[3]
Business travelers often book accommodations outof policy because they are not close enough to the destination (37%) or because they found a better hotel within their per diem (37%). ^[3]
The most common issues that business travelers face are flight delays (65.7%), flight cancellations (31.9%), and paying for travel expenses with a personal credit card (30.5%). ^[3]
These were followed by their company’s tool not having the best booking rates (29.3%) and lack of support in resolving issues while traveling (23%). ^[3]
The most tiring aspects of business travel are the waiting time (27%) and having no direct flights (25%). ^[3]
In addition, travelers feel that the ride to and from the airport (22%), early or late departures/arrivals (16%), and the flight itself (10%). ^[3]
51% of passengers around the world used a smartphone or other device to check in online. ^[3]
27% of global passengers use an airline app to make last minute purchases such as an additional bag, upgrade, or lounge access. ^[3]
The majority of modern travelers (57%). ^[3]
57% of travelers want to have a mobile app that will let them track their luggage in real. ^[3]
31% of travelers say they like the idea of using voice activated assistants for their travel queries. ^[3]
66.5% of companies use an online expense reporting platform with a mobile solution. ^[3]
In light of the pandemic, 55.7% of corporate travel managers say that contactless payments have become a higher priority for their travel program. ^[3]
51% of corporate travelers believe that all business trip payments will be made via mobile devices in a few years. ^[3]
Ride hailing companies make up 70.5% of all ground transportation receipts for business trips. ^[3]
Usage of ride sharing apps like Uber and Lyft dropped between 70% to 80% due to travel reductions brought about by the pandemic. ^[3]
39% of U.S. consumers who previously used ride sharing plan to lessen their use of these services. ^[3]
81% of business travelers expect hotels to use virtual, receptionfree check in processes in the future. ^[3]
Meanwhile, 79% predict that using VR tech for accommodations will become the norm in the next 10 years. ^[3]
The majority of corporate travel managers (82%). ^[3]
55% of business travelers say they will allow employers to use GPS tracking to monitor their location during outof. ^[3]
41% expect travel brands to use AI to provide them with significant travel suggestions. ^[3]
At the outset of the pandemic, 98% of member countries of the Global Business Travel Association canceled international business tours, while 92% canceled all or most of their business trips. ^[3]
International business travel experienced a sharp decline of. ^[3]
In a survey, 24% of respondents said that their company is considering returning to domestic travel in one to three months. ^[3]
On the other hand, only 6% of respondents said that their company is considering returning to international business travel in one to three months. ^[3]
57% of business travelers are considering taking a trip in the next six months. ^[3]
Only 6% of people miss traveling for business, compared to 48% who miss travel to spend time with loved ones. ^[3]
Moreover, as of December 2020, 21% of travel managers report that they are not willing to travel for work. ^[3]
When the pandemic is over, 36% of people expect to travel less for work compared to pre. ^[3]
CWT research Two thirds of travelers pick window over aisle; 52% prefer missed flight over lost luggage. ^[3]
More than 40 percent of business trips are extended for leisure purposes. ^[3]
Q2 projected US business travel spend as a share of 2019 spend 10%–15%Q3 projected range of US business travel spend as a share of 2019 spend. ^[10]
In Q2, less than a fifth of surveyed companies had reached 25% of 2019 spend. ^[10]
In Q3, the number of companies expecting to reach at least a quarter of 2019 travel spend doubles, but fewer than one in five expect to reach 50% of 2019 spend. ^[10]
25%–35% Many companies plan to significantly accelerate their return to offices in the fall. ^[10]
Still, about a third of surveyed companies say travel spend will remain below 25% of 2019 levels and two. ^[10]
35%–45%Q2 2024 projected range of US business travel spend as a share of 2019 spend 40%–60%. ^[10]
This resistance will likely reach its peak as a factor in the winter of 2021–22. ^[10]
This will likely have a dampening effect on the last quarter of 2021 and the first of 2024. ^[10]
Q3 2024 projected range of US business travel spend as a share of 2019 spend 55%–70%Q4 2024 projected range of US business travel spend as a share of 2019 spend. ^[10]
65%–80% If US vaccinations continue to increase, and the vaccines’ effectiveness against major outbreaks and variants proves durable, travel managers expect a big release of pent up demand in the second half of 2024. ^[10]
The majority of surveyed companies are optimistic that their travel spend will reach 2019 levels by this time—nine in 10 expect to be at or above 75%. ^[10]
Assuming significantly reduced quarantine on arrival for Europe, the Middle East, and the Americas, and several months of a stable health situation, US corporate travel could reach 80% of 2019 levels. ^[10]
This would represent more than 4x growth from where it stands in summer 2021, and more than 2x growth from the 35% projected for the last quarter of 2021. ^[10]
Reaching just 65% of 2019 spend levels would imply a scenario with still very limited international movement, as well as a stalled return on the domestic side. ^[10]
As the threat of illness, hospitalization, and death from COVID 19 wanes, corporate travel demand will likely begin to bump up against two significant limiting factors sustainability commitments and cost controls. ^[10]
Altogether, 79% of companies have made some kind of pledge or are working toward one. ^[10]
Key stat31% of businesses have fully automated at least one. ^[4]
A 2020 global survey of business leaders from a wide cross section of industries conducted by McKinsey & Co. found that 66% were piloting solutions to automate at least one business process, up from 57% two years earlier. ^[4]
The percentage of companies that have fully automated at least one function, however, has grown more modestly, from 29% in 2018 to 31% in 2020. ^[4]
A case study conducted by consulting firm Elder Research found that forecasts during the four week study delivered a median accuracy rate of 88%. ^[4]
Key statIn early May 2020, U.S. employee engagement advanced to a new high of 38%.—Gallup Improving worker productivity is a top driver for technology investments, including automation. ^[4]
Overall, U.S. productivity growth clocked in at a paltry 1.4% between 2007 and 2019, according to the Bureau of Labor Statistics. ^[4]
In the manufacturing sector, growth has increased only 0.5% since the financial crisis, falling sharply from 4.4%. ^[4]
Among Millennials, 43% envision leaving their jobs within two years, while only 28% see themselves staying beyond five years, according to Deloitte. ^[4]
McKinsey estimates that, in about 60% of occupations, at least one third of workday activities could be automated. ^[4]
Key stat60% of retail respondents have implementation AI, up from 35% during the prior year, making it the industry with the sharpest increase.—McKinsey Advances in AI and machine learning are key enablers of BPA. ^[4]
Among its key findings 63% of those that have implemented AI say that it contributed to increased revenues. ^[4]
58% embedded at least one AI element into a process or product, up from 47% in 2018. ^[4]
30% incorporated AI across business units, an increase from 21%. ^[4]
Since the outbreak, McKinsey found that 88% of finance and insurance executives and 76% of those in IT have accelerated their implementations of automation and artificial intelligence. ^[4]
27% Capture and apply knowledge that is hard to otherwise attain 26% Apply automation to reduce headcount 24%. ^[4]
Digitization and a focus on streamlining business processes is accelerating demand for modern workflow automation management systems, which Grand View expects to show a CAGR of 27.7% through 2025. ^[4]
Key stat64.8% of businesses planned to invest more than $50 million in big data and AI initiatives in 2020, up from 39.7% in 2018.—New Vantage Partners. ^[4]
A recent executive survey from New Vantage Partners shows that 65% of businesses planned to invest more than $50 million in big data and AI initiatives in 2020, up from 40% in 2018. ^[4]
While only 38% have created data driven organizations, 27% have successfully created “data cultures” within their companies. ^[4]
91% cited people and process challenges as the largest barriers to evolving into data. ^[4]
Key stat88% of corporate controllers expect to implement RPA in 2021, though many are hesitant to use it for financial reporting.—Gartner. ^[4]
RPA could save finance teams 25,000 hours of avoidable rework from human errors, at a cost savings of $878,000, according to research firm Gartner. ^[4]
Still, a study found that only 29% of chief accounting officers surveyed are using RPA for financial reporting. ^[4]
Key stat25% of companies are using AI to screen resumes or job applications.—Littler. ^[4]
Investments in HR technology will soar between 2020 and 2024, according to a report by Gallagher, an insurance brokerage, risk management and consulting firm. ^[4]
More than two thirds, 69%, of HR execs surveyed said they will expand or replace their HR systems by 2024. ^[4]
According to the findings Just 15% have holistic HR technology strategies aligned with their corporate goals. ^[4]
Still, 35% have implemented new HR technology with success since 2018. ^[4]
29% use more than 75% of the capabilities provided in their systems. ^[4]
Most, 69%, say they are not using these systems in their recruiting or hiring processes, for example. ^[4]
It appears that companies are listening Among the 600 HR and IT executives PwC surveyed, 74% expect to increase HR technology spending. ^[4]
Likewise, 72% said their core HR applications will be cloud based by the end of 2020. ^[4]
The projected percent change in employment from 2020 to 2030. ^[11]
The average growth rate for all occupations is 8 percent. ^[11]
The percent change of employment for each occupation from 2020 to 2030. ^[11]
45% of these travelers are women. ^[5]
Only 7% of trips fly further than 1,000 miles Approximately 20% of all global business travel is work. ^[5]
While business passengers make up only 12% of an airline’s passenger count, they bring in 75% of the profit, thanks to more onboard spending and higher airfare. ^[5]
Indonesia (8.7% growth), Sweden (6.8% growth), Norway (6.6% growth), and China (3.9% growth). ^[5]
These travelers make up 40% of total hotel guests, while Airbnb reports that more than 700,000 companies have taken advantage of its services to date. ^[5]
45% of work travelers in the US are women, while 55% are men. ^[5]
More than half of corporate travelers are over 45 years old, and 55% are between the ages of 30 – 49. ^[5]
In Europe, 50% of business travelers travel alone, while the other 50% travels in groups of two or more. ^[5]
When it comes to profession, 53% of business travelers are people in professional, managerial, or technical roles. ^[5]
Only 23% of business travelers are in service or sales positions. ^[5]
Approximately 66% of all corporate travelers have a bachelors’ degree and an average household of $82,000, which corresponds strongly to the travelers having managerial or technical roles in their companies. ^[5]
Approximately 65% of all millennial travelers view business trips as a status symbol and tangible proof of their importance in a company. ^[5]
Many other millennial travelers like to use business trips as an excuse for a vacation, with 69% extending their business trips for leisure. ^[5]
78% of millennials will make time for leisure during their business trip, even if they don’t extend their stay past the designated business trip period. ^[5]
For this reason, 56% of millennials make up reasons to go on business trips as often as possible, which has led to an average of four business trips per year. ^[5]
Only around 7% of all business travel is further than 1,000 miles away from the point of origin. ^[5]
According to the statistics, bleisure trips combining business and leisure have risen by 20% in just one year, from 2016 and 2017. ^[5]
Appropriately 80% of travelers admit taking part in leisure activities while on a business trip. ^[5]
The most telling one is that while 41% of travelers want to explore new places and cultures, only 17% enjoy meeting with clients and teams on their trip. ^[5]
37% of business travelers believe that leisure activities should get as much time as corporate time on a business trip. ^[5]
A recent employee poll showed that 74% of employees would like to have a business travel spending budget that includes money for extra. ^[5]
Another 38% believe that the business budget should include the option to bring a guest on the trip as well. ^[5]
According to the Harvard Business Review, faceto face communication is up to 34 times more powerful than electronic communication. ^[5]
These business travel statistics can help explain why over 90% of corporate professionals believe that corporate travel is essential to business growth. ^[5]
A recent study estimates that a lack of travel options could lose companies up to 28% of existing business. ^[5]
83% of employees believe that business travel is a job perk, and 79% say that the ability to travel affects their overall job satisfaction. ^[5]
Almost 40% of GenX and millennial employees say that they wouldn’t accept a job where they weren’t able to travel. ^[5]
Restaurants and meals account for 21% of a travel budget, while airfare accounts for an average of 17%. ^[5]
Studies show that over 70% of business travelers in the US use their work smartphones while traveling. ^[5]
Most companies use automated digital expense reporting as part of their travel policy, and 55% of business travelers expect to go on completely cashless trips within the next decade. ^[5]
More people are embracing hightech solutions, with 31% of employees saying they’d like to use voice activated apps for any travel queries. ^[5]
79% of business travelers believe that virtual reality tech will help them choose their accommodation within the next five years. ^[5]
81% expect receptionfree check in within the next two years. ^[5]
71% of business travelers say they’d never post about a work trip on social media, despite using their smartphones on a daily basis. ^[5]
Business travel statistics show that only 16% of all business trips occur by air. ^[5]
For corporate travel trips over 1,000 miles, over 90% are by air. ^[5]
28% of hotel bookings are made directly from the hotel’s website, while 10% book via an online travel agency, 7% with a third party reseller, and 14% book through a travel agent. ^[5]
Business travelers tend to prefer efficiency over the human touch, and 79% of travel agencies report increased revenue when they provide live chat on their website. ^[5]
Surprisingly, 40% of companies don’t have any travel policy in place, and 50% allow business travelers to book the trip however they want. ^[5]
The 60% of organizations that have policies in place, however, face several challenges in getting employees to follow the established travel policies. ^[5]
60% of travelers don’t understand the need for a travel policy, and 27% think their company’s policy is poor. ^[5]
52% of employees find their company’s travel policies don’t align with the corporate culture, which leads to only 60% of business travelers complying with the travel policies. ^[5]
The most common complaints by business travelers include 41% dislike the difficulty in earning frequent flyer points and making use of loyalty rewards. ^[5]
27% hate the long travel waiting times. ^[5]
25% worry about not getting a direct flight to their destination. ^[5]
22% find the travel or transportation to and from the airport tiring and stressful 16% hate early or late departures. ^[5]
8% are concerned about limited seat availability 4% worry about going through airport security. ^[5]
Business passengers represent 75 percent of an airline’s profits despite only being 12% of their total passengers. ^[12]
We know that 79% of corporate travelers used their mobile phones to complete bookings through on online booking tool last year. ^[12]
But, from 2016 2017, the number of people who booked travel plans solely from their mobile devices rose a whopping 70%. ^[12]
Plus, over 23% of all business flights are booked outside of standard business hours these days. ^[12]
Sadly, 23% of business travelers wait until the week before departure to book domestic trips, which decreases policy compliance especially because rates increase dramatically the closer you get to your travel date. ^[12]
Nearly 70% of business travelers agree it is difficult to build business relationships over video and 91% agree they’d rather close a deal in person. ^[12]
83% of business people said it takes more than an hour to book a business trip. ^[12]
The next 17% of a corporate travel budget is spent on flights, 13% on hotels, and the remaining 49% is spent on everything from tolls to gas and miscellaneous expenses. ^[12]
Despite the massive amount of employees who travel for business, only 60% of companies have a corporate travel policy in place for employees to follow. ^[12]
In fact, a Travelport study reported that 69% of business travelers say they “always comply with policy”. ^[12]
In a separate study by Amadeus, only 50% of travelers said they followed company policy. ^[12]
What’s more troubling is that in this same study, 60% of business travelers admitted they don’t even understand their company’s travel policy. ^[12]
Moreover, only 8% of travelers reported that their travel agent proactively reaches out when plans unexpectedly change. ^[12]
Most of them consider business travel to be a perk of the job, and 65% of them see it as a status symbol. ^[12]
They are 60% more likely to upgrade for more legroom on flights than non. ^[12]
Further, 21% of millennials do not belong to any loyalty program and are less interested in loyalty programs in general. ^[12]
The most significant impact by millennials on corporate travel has been the increase in “Bleisure” trips that have increased over 20% in recent years and continues to rise. ^[12]
Travel spend, according to TripAction’s numbers, increased 220 percent from January through March 2024, jumping 1,650 percent yearon year in March 2024. ^[13]
In terms of expense category shifts, airlines have returned to their pre pandemic top spot, increasing 240 percent from 2024 to the end of March 2024. ^[13]
Sales professionals made up 44 percent of the travel management company’s business travelers in March this year, with operations and engineering employees tied for second, at 12 percent. ^[13]
Meanwhile, bookings made on its new Team Travel platform grew 662 percent over the three months, it said in its State of Business Travel and Expense Q1 2024 report, published Wednesday. ^[13]
“Airlines are reporting 70 percent recovery of business travel, yet there are pilot and staffing shortages and supply chain issues with plane deliveries. ^[13]
The expense platform recently surveyed 100 U.S. travel managers, where most of them said their organization had more employees traveling for business in March 2024 compared to February 2021. ^[13]
Nearly all respondents also said they thought their company’s travel spending would increase in the next 12 months, predicting an increase of 34 percent on average. ^[13]
However, just 62 percent of travel managers said hotels were going to be capable of meeting demand for an increase in business travel this year, and 60 percent said the same about airlines. ^[13]
Travel management companies were viewed as the least likely to be ready from the travel manager’s perspective, with just 53 percent having faith in them. ^[13]
Elsewhere, the UK’s Travel Counsellors said corporate sales in March were up 20 percent so far against levels in 2019. ^[13]
According to Oxford Economics business travel statistics, if companies halted their travel policies and denied their customers meetings in person, they would lose approximately 25% of their current clients. ^[1]
This number fairs even higher when it comes to revenue, which would experience a drop of 28% if this nightmare scenario would suddenly turn real. ^[1]
An estimate of 36% of customers and 38% of the revenue would be lost in the manufacturing sector if companies were denied their right to use airplanes, trains, and cars to meet and discuss their businesses with clients in person. ^[1]
While leisure traditionally takes up most of the revenue (around 74%). ^[1]
In 2018 US residents logged around 463 million domestic business trips, with 38% of the total number credited to traveling for meetings and events. ^[1]
According to US business travel statistics, the figure is set to rise to 493.7 million by 2024. ^[1]
With 40% of travelers preferring to rent a vehicle, and 46% opting for ride hailing, the only obvious losers were taxi services who only saw 14% the share. ^[1]
However, in 2018, ride hailing won the war with 78% of business travelers reporting to have used and preferred services of companies like Uber and Lyft. ^[1]
Rental cars saw a significant decline at 23% and taxi drivers were all but obliterated, falling to 6%. ^[1]
Meals stack up 21% of expenses for an average business traveler. ^[1]
According to the 2019 edition of the Business Travel News Corporate Travel Index, meals are most expensive in New York, at $144.85 per diem. ^[1]
The majority of flights (72%). ^[1]
While business travelers make up only 12% in numbers, they are every airline’s most valuable customer. ^[1]
According to 2019 data, business travelers usually make up at least twice as much in terms of profit. ^[1]
The data implies that in some cases, airlines earn as much as 75% of their total revenue of trips booked by business travelers of all sorts. ^[1]
Especially if we consider that 59% of US business travelers always book their hotel themselves and 30% usually book their hotel themselves. ^[1]
In 2017, 79% of travel industry businesses reported an increase in revenue after enabling a live chat option on their website. ^[1]
However, 38% of surveyed users consider a poor live chat experience the number one reason for frustration when handling their travels. ^[1]
According to a survey conducted by Skift, young adults in their late twenties/early thirties took 7.4 business trips in 2015. ^[1]
Also, travel statistics by age group suggest that the same target group most often uses lowcost air carriers, with 85% of them booking low cost airlines in 2018. ^[1]
As much as 81% of the survey’s respondents stated that they would take Uber or Lyft over taxis any day. ^[1]
Moreover, Millenials are most likely to consider business travel a perk when choosing a job, with nearly 90% of millennials seeking an advantage to extend their business trip into leisure. ^[1]
Other groups are not far behind, with 81% of Generation Xers and 80% of baby boomers also confirming that they like to make the most of the time they are given while away on business. ^[1]
Around 45% of millennial respondents in a survey have reported having the so called “bleisure travel stigma.”. ^[1]
However, regardless of their age or generation, managers (64%) and executive/senior leaders (67%) are also more likely to share their “bleisure” activities than non managers (54 %). ^[1]
For example, 40% of Gen X respondents said they prefer keeping their personal activities during business trips private. ^[1]
The divide is real 53% of business travelers state that finding time for leisure while on an official trip is next to impossible, as opposed to the 59% who manage to squeeze in some “me time” in the mix. ^[1]
This is mainly due to the fact that 74% of all domestic business trips are conducted within less than 250 miles from the point of departure, with most of those being less than 100 miles. ^[1]
Around 97% of 50to 99mile trips, as well as nearly 94% of 100to249 mile trips, are conducted by personal vehicles. ^[1]
Once the range reaches 250to 499 miles, the personal vehicle share sharply declines to 67% while those in favor of airplanes surges to 31%. ^[1]
While distances over 1,000 miles account for only 7% of the total number of business trips, they are almost exclusively conducted by air travel. ^[1]
Around 62% of all respondents in the Skift 2016 survey stated that the main reason for business travel is usually to attend a conference of some sort. ^[1]
This was the case with 74% of millenials, 61% of Gen Xers, and 53% of boomers. ^[1]
The second biggest reason (56%). ^[1]
Millennials once again took the lead with 77%, with Gen Xers as second at 56%, and boomers at 39%. ^[1]
The third reason is professional development or training, with an average of 44% of all respondents naming this as their purpose of business travel. ^[1]
Broken down into individual age brackets, the numbers come down to 63% of millennials, 43% of Gen Xers, and 25% of baby boomers. ^[1]
Female business traveler statistics focused on safety issues discovered that 90% of respondents named safety as the first thing that affected the activities pursued during personal time while on business travel. ^[1]
The women who took part in the survey reported that such issues mostly affect their booking behavior (86%). ^[1]
For example, 84% cited that they tend to avoid cities and places that have a reputation for being unsafe. ^[1]
Furthermore, 81% indicated their travel frequency for business has also been affected by safety concerns, and 80% agree that such issues have had an impact on their productivity during business trips. ^[1]
The average business travel hotel guest is male (63%), aged 35 54 (50%), employed in a professional or managerial position (56%). ^[1]
As much as 78% travel alone, with the large majority of business travelers making reservations (95%). ^[1]
According to USA Today, The Hampton Inn and Suites was the favorite choice for corporate travelers in 2017. ^[1]
However, as much as 50% of surveyed companies allow travelers to book using any method they choose. ^[1]
Furthermore, 46% of business travelers have reported preferring booking hotels on consumer sites and finding a better price, then relying on their company to do it for them. ^[1]
That is why 37% of surveyed travelers reported having booked the hotels that were in the closest possible proximity of an established meeting place or conference location. ^[1]
As a country where economic activity is dominated by consumption, India’s business travel growth rate of 11.3 % is oriented more towards domestic than international. ^[1]
While most Western European economies have reported steady growth in business travel spending during the last few years, the United Kingdom has shown a 0.7% decline in 2017, largely due to the Brexit political crisis. ^[1]
An estimated 1.3 million business trips occur in the United States on a daily basis – 463 million trips per year in the United States alone. ^[1]
Around 12% of the total number of flights is reserved by business travelers. ^[1]
Although business travelers make up only 12% in numbers, they are every airline’s most valuable customer. ^[1]

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Reference

spendesk – https://blog.spendesk.com/en/business-travel-statistics.
fortunly – https://fortunly.com/statistics/business-travel-statistics/.
smallbizgenius – https://www.smallbizgenius.net/by-the-numbers/business-travel-statistics/.
financesonline – https://financesonline.com/business-travel-statistics/.
netsuite – https://www.netsuite.com/portal/resource/articles/business-strategy/business-automation-statistics.shtml.
stratosjets – https://www.stratosjets.com/blog/business-travel-statistics/.
altexsoft – https://www.altexsoft.com/blog/corporate-travel-management-companies/.
statista – https://www.statista.com/statistics/562309/share-companies-business-travel-management-companies/.
travelperk – https://www.travelperk.com/blog/business-travel-statistics/.
jtbbusinesstravel – https://jtbbusinesstravel.com/business-travel-statistics/.
deloitte – https://www2.deloitte.com/us/en/insights/focus/transportation/future-of-business-travel-post-covid.html.
bls – https://www.bls.gov/ooh/business-and-financial/management-analysts.htm.
trondent – https://www.trondent.com/business-travel-statistics/.
skift – https://skift.com/2024/04/07/group-and-business-travel-make-a-stellar-first-quarter-comeback/.

How Useful is Business Travel Management Services Providers

Business travel management services providers offer a range of services aimed at making the travel process more efficient and cost-effective for companies. From booking flights and hotels to managing expenses and ensuring compliance with corporate travel policies, these providers offer a one-stop solution for all business travel needs. By outsourcing these tasks to a dedicated provider, companies can focus on their core business activities while leaving the intricate details of travel arrangements to the experts.

One of the key advantages of using a business travel management services provider is the access to advanced technologies and tools that streamline the travel booking process. These providers have access to sophisticated booking systems and databases that allow them to search for the best available fares and accommodations quickly and efficiently. This not only saves time for employees who would otherwise spend hours researching travel options but also ensures that companies are getting the best possible deals for their travel expenses.

Moreover, business travel management services providers often have established relationships with airlines, hotels, and other travel vendors, allowing them to negotiate discounted rates and exclusive deals for their clients. These partnerships enable companies to save money on travel expenses while still maintaining high-quality accommodations and services for their employees. In addition, these providers also offer round-the-clock support and assistance for travelers, ensuring that any unexpected issues or emergencies are addressed promptly and effectively.

In today’s fast-paced business environment, efficiency is key, and business travel management services providers help companies achieve this by streamlining the travel process and ensuring that all travel arrangements are made in a timely manner. By taking care of the nitty-gritty details of travel planning, companies can focus on their business goals and objectives without having to worry about the logistics of travel arrangements. This not only boosts productivity but also enhances employee satisfaction by reducing the stress and uncertainty that often comes with business travel.

Overall, business travel management services providers play a crucial role in modern business operations by offering comprehensive solutions for all travel-related needs. From booking flights and hotels to managing expenses and providing round-the-clock support, these providers allow companies to focus on what matters most – growing their business. With their advanced technologies, industry expertise, and cost-saving strategies, business travel management services providers are indeed a valuable asset for any company looking to optimize their travel processes and stay ahead in today’s competitive business landscape.

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