SAP Concur Releases 2023 Travel Priorities Predictions for Business Leaders
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For business leaders and travel managers, understanding 2023 travel cost trends and priorities can help with budgeting and strategy. The survey data and predictions in the article can inform corporate decision-making.
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- SAP Concur BlogSAP Concur Releases 2023 Travel Priorities Predictions for Business Leaders
A SAP Concur blog post shares predictions for business leaders' travel priorities in 2023. Citing an early 2022 SAP Concur pulse survey, it notes that 88% of U.S. finance managers said their company experienced a revenue loss in 2021 as a direct result of employees' inability to travel at pre-pandemic levels. Additionally, the GBTA CWT Global Business Travel Forecast 2023 report found that the cost per event attendee is expected to be around 32% higher in 2023 than in 2019. The article advises companies to weigh the costs and benefits of their travel programs and balance saving money with positioning for growth when the economy stabilizes.