November 2022, Virtual
21 November 2022, Hilton London Metropole
Shortly after the 2008 global economic crisis, most travel budgets were slashed. However, as spend is back on the increase, we look at 5 lessons learned since 2008…
Instead of travel avoidance companies are looking at cost avoidance, this could be two trips rolled into one, or turning a two-day trip with an overnight stay into a simple day trip.
Travel is both a bottom-line cost and an investment to drive revenues
Tired travellers, dealing with crashed computers, poor communications, or questionable support are at a disadvantage to their competition
Administrative travel (to handle internal corporate business) generates no profit, yet can account for as much as 60 percent of a firm’s travel costs. Whereas revenue-producing travel (sales and service calls) is the first direct link in the corporate cash chain.
Many of the emerging economies identified as offering growth potential for the UK are in Africa, Asia and South America, and require travel to forge new relationships and make commitments to understanding new markets and sectors.
Extracted from the feature by Martin Ferguson - Travel's bottom line.