Travel is the second largest controllable expense in a corporate budget. A massive $1.2 trillion was spent globally on business travel in 2015alone, which is an amount equivalent to the GDP (Gross Domestic Product) of Australia. Corporates splurge huge amounts on business travel. With business travellers taking to the skies every day, the figure is estimated to spike up to $1.6 trillion by 2020.
Business travel has become an important part of every top company’s budgeting exercise. Whether employees are required to fly consistently or occasionally, travel is an expensive affair and can be costly if not managed efficiently.
We’ve put together some Business Travel Trivia that would help simplify business travel management for TMCs and Corporates.
- Global Biztravel Spending
Business travel spending worldwide reached approximately 1.3 trillion U.S. dollars in 2016 and is forecasted to rise to 1.6 trillion U.S. dollars by 2020. TMCs and Corporates can reduce business air travel costs by booking in advance, booking with reputed travel firms, incorporating reward programs, arranging for virtual meetings and by chalking out an efficient business travel plan.
Logistics in the travel industry ranges from ground handling, transport arrangements to accommodation and health and safety regulations. Travel logistics is an integral part of travel management and when properly managed, will bring effectiveness and efficiency in the supply chain of the organization.
- Airfare Consolidators
Consolidators or wholesalers offer negotiated fares which are far cheaper than published fares. They are connected to the broadest array of airfare selection. By signing up with airfare consolidators, travel firms will be able to get the most competitive airfares in the market. As a Global Airfare Marketplace, Mystifly provides consolidated airfares from anywhere to anywhere in the world.
- Hotel Consolidators
Hotel Consolidators will help to get the best hotel fares almost instantaneously, at the click of a button. They offer special discounted prices in major tourist destinations and local regional areas too. With access to real-time hotel availability, travel firms can leverage this to get a detailed breakdown of hotel availability and rates.
- Ground Transport Solutions
This crucial step that can help simplify travel management is often neglected by travel businesses. Ground transport services offer airport transfers, tailor-made sightseeing with dynamic packages, value-added Seat-In-Coach (SIC) tours, local shopping and daily needs. A complete end-to-end ground transport solution will make business travel a ‘bleisure’ experience.