Concur Data: Analyzing Millennial Corporate Travel Spending Habits
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Understanding the travel spending patterns of different generations helps companies develop more precise and fair travel policies and optimize budget allocation. As millennials become the largest workforce segment, companies need to address their preference for digital experiences to improve policy compliance and empl…
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- SAP Concur BlogConcur Data: Analyzing Millennial Corporate Travel Spending Habits
Concur analyzed $36 billion in travel expenses processed between Q1 2015 and Q1 2017, revealing spending differences between millennials (ages 22-35) and older employees (ages 36-65). The data shows that older employees' total expenses per employee are 66% higher than millennials', but millennials spend slightly more on hotel-related expenses. The article also explores industry and regional differences and suggests companies adapt travel policies to meet millennials' demand for a seamless experience.