Travel costs remain high and there’s increasing pressure to find ways to save money and add value to business travel budgets.
According to Deloitte’s travel outlook for 2024, business leaders entered this year with the ‘intent to tightly manage travel spend, with political and macroeconomic challenges contributing significantly to corporate travel’s focus and costs will stay a key concern for the rest of this year’.
Cost saving is undoubtedly high on the agenda for businesses. We polled corporate travel buyers about where they anticipated the most pressure would be on their travel budgets this year.
More than half of respondents cited the price of flights (55%). Almost a quarter highlighted the cost of sustainable travel (23%). Hotels came in at 13% and 9% thought the added cost of meetings and events would add the most pressure.
Despite increasing costs being a major concern for travel buyers, states the Global Business Travel Association’s Business Travel Outlook Poll earlier this year, business travel is still forecast to increase in volume this year.
How can working with a travel management company deliver cost savings to your travel and event programmes and add value?
Read our whitepaper – How to save money and add value: Business travel and events
You’ll find out more about:
- What the financial pressures are for travel and event managers
- Why flight and hotel prices remain high
- Whether NDC will offer cost savings
- How working with a TMC with specialist sector knowledge – from the legal and media sectors to Energy & Marine – can add value to your travel budgets
- Why investing in sustainable travel adds value to your business
- How you can make your £ / $ / € go further with meetings and events
- Plus a case study on how Reed & Mackay is delivering cost savings to clients.
Download the report
Mail hello@reedandmackay.com to discuss all of your travel and event management needs.
