SAP Concur Data: Benchmarking for Smarter T&E Spend

SAP Concur released T&E benchmarking analysis based on its processed data. From 2022 to 2023, airfare spending rose over 18% with bookings up 20%; first class dropped 84%, economy rose 36%, and business class rose 22%. Hotel spend jumped 24% while corporate tool bookings grew only 4.2%. Total meal spend rose 20%, with average meal cost rising slightly from $21.69 to $22.89. Missing receipts climbed 17%, associated spend rose 29%, and expense reports with exceptions increased nearly 10%.