Companies spending big on travel: report

Global companies have increased their air travel spend by 9.3 per cent according to a report by US travel and expense management firm, Concur.

The Travel Expense Report found that the average spend on flights was US$446.87 – up 9 per cent from last year. Overall, airfares made up 23 per cent of total business travel spending.

The report, which used data from Concur’s 15,000 clients, also reported year-on-year increases of 5.6 per cent on hotels and 4.9 per cent in entertainment. However, spending on car rentals dropped by 0.3 per cent compared with a year ago and the last quarter.

Read more here.