Spanish companies to spend 3.7% more on corporate travel this year

Spanish companies will spend 3.7% more on business travel this year, according to the first edition of Brain Trust's Business Travel Barometer. The average budget for business travel will be approximately 70,000 euros, with an average expense per trip of 743 euros.

As a general conclusion, the I Business Travel Bar Brain Trust CS says that this year will be a good one for the business travel industry. Two out of three companies believe their business will improve in 2017 compared to 2016, with 66% believing so; 31% expecting no change; and 3% saying their business could get worse.

Medium-sized companies are the most optimistic, followed by the largest, and lastly small companies and self-employed, which are somewhat more pessimistic.

This optimism regarding the business economy in 2017 undoubtedly influences the budget that Spanish companies will allocate to travel. 24% of the companies surveyed believe they will make more trips, 65% think they will make more or less the same number of trips, and only 11% say they will make fewer trips.

This year, business travel spending will be 3.7% higher than in the previous period, reaching an average annual budget per company of ?68.948 €. Specifically, each trip made by Spanish oles executives will involve an average expenditure of 743€.

Analyzing the expected spending for travel in companies by sector, those related to arts and entertainment are those that most expect to increase this spending, with an estimated growth in spending of 7%. This industry is followed by construction (5.5%), commerce and education , both with expected increases of 5.2%. 

In contrast, the sectors least expecting to increase travel spending are Information & communications (with 3.9% growth), followed by Industry (4.1%) and Professional Services (2.1%).

Companies from the Basque Country top the list of travel budgets, followed by companies from Madrid. In relation to last year's spending, this budget has increased the most in the Valencian Community, with a growth of 5.5%, and Andalucía (4.7%).

PERFILES AND DESTINATIONS

The Brain Trust CS Business Barómetro also defines the profile of the Spanish travelers, being the directors, with 32% the most itinerant; followed by the technical, with 24%; the commercial, with 22%; the middle management, with 12%; the administrative profiles, with 6%; and the rest of travelers, with 4%.

Domestic destinations account for 48% of the total, followed by Europeans, with 29%; South America, with 8%; North America, with 6%; Asia, with 6%; and the United States, with 6%;The trend of gradual internationalization of Spanish companies is confirmed by the fact that the number of Spanish companies in the region is increasing.

For José Manuel Brell, co-director of Barómetro Turístico, “the challenge for companies lies in combining a greater need to travel with the optimization of investment in travel. All this in an era in which multichanneling is an irreversible trend, and where companies combine different channels and suppliers”.

 

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