SAP Concur Report: 2024 Business Spending Trends
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Changes in spending categories and transaction costs reflect corporate travel and expense management trends, providing benchmark reference for finance and travel managers.
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- SAP Concur BlogSAP Concur Report: 2024 Business Spending Trends
SAP Concur released its 2024 Business Spending Trends report based on early 2024 spend data. The top seven employee spending categories remained unchanged from 2023, with Other/Miscellaneous at 32.04%, Air 17.67%, Lodging 17.36%, Meals 12.14%, Ground Transportation 5.72%, Entertainment 4.54% and Office 2.48%. Since 2019, the average transaction cost for Other has jumped 57% and Miscellaneous 47%. The report also cites research showing 90% of employees noticed their company cutting back on flexible travel options and 64% saw increased focus on pre-travel approval. 2023 data shows a 17% increase in claims with missing receipts, a 29% increase in spend for such claims, and a 10% increase in ex…