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Companies pursue better corporate travel management
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CHINA'S corporate travel market is evolving rapidly with more companies pursuing effective travel management, an industry report has found.
More companies are opting to use online booking tools and introducing company credit cards, according to HRG's latest China Travel Trends Report released today. HRG is a UK-based global corporate services company.
"Demand for structured corporate travel management is increasing in China as companies have realized the vast benefits of doing so, especially in the control of travel and related expenditure costs," said Yates Fei, general manager of HRG China. "We have noticed change in every part of the business -- for instance, the classic travel management model has evolved into wider deployment of online booking tools, invoice payment now employs various credit platforms, and simple air spend management now includes the management of all travel and entertainment expenses."
The report also found the majority of China based multinational companies remain optimistic about the country's economic development and have committed to an increase in corporate travel expenditure although cost savings continues to be important.
China's corporate travel market expenditure is expected to rise 16.5 percent this year from US$223.5 billion in 2013. It is anticipated that it will surpass the US in spending as early as next year to become the No. 1 business travel market in the world, according to an earlier released GBTA BTI Outlook -- China Report.
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