More from Our Productivity Index: Travel Spending is Up
The first infographic we created from data in our new Replicon Productivity Index showed how employees used their days-away-from-work. Now we’ve focused on another area of the data, seeing how companies spend their travel dollars. You hear and read a lot about how the current economy is causing companies to look for ways to cut expenses, including reductions-in-force, hiring and pay freezes, and in some cases curtailing or even eliminating business travel. But as shown in our new infographic, companies are not necessarily spending less than they could for travel. In fact, their on-the-road expenses appear to be rising quickly.
Some findings: On average, the cost of a flight for business travel is $440. That’s over 25% higher than the average cost of domestic airfare.Hotel stays account for 22% of companies’ travel budgets. Maybe that’s not surprising, but it seemed a bit of an eye-opener to discover that entertainment expenses amount to just 2% of travel outlays. So perhaps companies are getting down to business out-of-town without much wining-and-dining!
Have a look at the travel infographic here, and see how your costs compare.