Corporate travel and team work programs
Corporate travel is the practice of people traveling for purposes related to their work. It is on the rise especially with foreign business markets opening up.
Many airlines began to concentrate on providing premium service on long haul flights especially for the first and business class business traveler with the development of more sophisticated business traveler needs over the last 15 years.
Airlines have also been working on tools that benefit the business travellers such as: Improved and competitive mileage programs, quick check in and online check in, lounges with broadband connection, etc. Hotels are not far behind. They are also on the competition for the business travellers by offering flexible points programs, broadband connection in all rooms and fast check in and check out services.
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While internet booking engines have become the first destination for around 60% of leisure travelers, business travelers, especially with the need for itineraries that may include more than one destination, have still found that a knowledgeable travel agent may be their best resource for better ticket pricing, less hassle and better air and land travel planning. For larger business travel accounts these travel agents take on a travel management role, and are referred to as Travel Management Companies (TMCs), providing services such as consultancy, traveller tracking, data and negotiation assistance and policy advice.
Recent trends in this market have extended to the implementation of Self Booking Tools (SBTs) which allow automated booking of trips within company policy, an increase in the inclusion of Duty of care practices in the booking and monitoring process and more consideration for the environmental impact of business travel.
Top three expense categories for corporate travel:
Airline expenses
Hotel expenses
Food and beverage expenses
Team building training
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