Tue. Jan 31st, 2023

The annual spend is expected to increase from $1.3 trillion in 2017 to $1.6 trillion by 2020. Most of the spending is on meals (21%), compared to 17% that accounts for flights. This aligns with the fact that most work trips are less than 250 miles away from the point of origin and would, therefore, have cheaper shorter flights. Less than 7% of destinations are more than 1,000 miles away from their point of origin so there is only a small percentage of spending towards long-haul flights. If you travel regularly for business, then our Annual thebroadmoorblog.com insurance with Business cover option may be the best policy for you. You’re covered for multiple trips and there’s no need to tell us when you’re going, so you can jet away at the last minute.

  • With 80% of corporate travelers aiming to fit in leisure activities on a work trip, there is a market for bleisure.
  • Regardless of these dependencies, there are a number of challenges that travellers cite across the board.
  • Additionally, the on-the-go nature of the expense management process allows travellers to submit expenses on a regular, real-time basis, sparing them from hours of reconciliation every month.
  • In 2019, business travel accounted for about 15 to 20% of air travel, or about 154 million MtCO2.
  • You might need a travel plan as part of the planning application process for a new development.

The businesses meet the ranking’s highest standard for corporate travel and set the example for other corporations. The Danish pharmaceutical company Novo Nordisk comes out on top, with its 50% reduction target by 2025 and transparent reporting of air travel emissions for the past three years. The analysis sheds light on the significant efforts certain global businesses have still to make to reduce their corporate travel emissions. Out of the 230 companies, 193 fail to act with sufficient speed and ambition to tackle corporate travel emissions.

Is business travel compliance still fighting for a seat at the data table?

With the Business cover option this policy includes cover for business equipment, so your essentials are protected. Business travel insurance can protect you if you need to cancel your trip before you travel, or if you need to curtail your journey. If your departure or your personal belongings are delayed, we can provide some compensation. We’ll even provide legal support to claim compensation for a fatality, or if you fall ill or are injured on your trip. As with our usual policies, you can feel safe in the knowledge that our global team of experts are on hand to provide support and assistance if something goes wrong.

A-Plan’s Annual Multi Trip Travel Insurance will protect you for multiple trips throughout the year. Each account manager will also have a buddy to ensure a smooth transition should your account manager be on annual leave. Yes, an account manager will be assigned to your business to make sure all of your needs are met. Too often, employees find themselves collecting expenses and receipts and submitting them in bulk for approval – whether that’s once a month or once a quarter.

Europcar for business Let your expenses become experiences!

Technology is a significant platform for researching, planning and booking business trips with 48% of US travellers using their mobile phones to book, plan and research their trip. 70% of business travellers use their smartphone while travelling and 80% of would prefer to use automated apps to calculate their expenses, this demonstrates the importance of the use of technology and travel. Despite the use of technology, links between corporate travel and social media posts are not shown to be on the rise with 71% employees saying they wouldn’t post about a business trip online.

By jimmy