Travelers Hit the Road Despite Tighter Budgets, Defying Economic Constraints

Nearly half of U.S. business travelers say they now are traveling more frequently than they were prior to the pandemic, according to a survey of 398 business travelers conducted in July by technology marketplace vendor Capterra.

While 85 percent of respondents said their companies are working to tighten travel budgets and cut overall travel spending, 46 percent said they currently are going more trips compared with pre-pandemic levels, according to Capterra. On average, respondents to the respondents to the survey traveled six times per year for an average of three days per trip.

More than 90 percent of respondents said they have added personal vacation time to business trips, Capterra reported.

The survey also indicated widespread use of manual processes for expense reporting. Just over half said they use mobile apps and/or expense management software to report expenses, but 47 percent said their company still manages expenses with spreadsheets, and 42 percent said their company manually tracks receipts for expenses. Ninety-two percent of respondents said they have encountered challenges related to expense reporting, according to Capterra.

“As business travel takes flight again, a concerning number of businesses still rely on outdated methods to record and report travel expenses,” Capterra senior finance analyst Max Lillard said in a statement. “Nearly all businesses report the need to set tighter travel budgets and implement more accurate expense reporting amidst economic turbulence.”

Michael B. Baker www.businesstravelnews.com