Where are business travelers hanging their hats and spending their money? In what US cities do business travelers spend the most nights? A new 2012 report on corporate travel and entertainment spending released by Concur, a leading provider of integrated travel and expense management services, reveals the top ten US cities for business travel. Concur's travel industry report, Spend Trend: Where Business Travelers Spend Money, based on analysis of $50 billion in travel and entertainment spending around the world, offers insight into spending trends by targeting where real world data that reveals where business travelers spend their money.
State of the industry view
Concur looked at expense line items to find the top travel and entertainment trends in business travel last year. "Last year, Concur helped more than 15 million users in over 100 countries manage their T&E expenses," said Michael Hilton, EVP of worldwide marketing for Concur. "This significant volume of transactional data gives us a unique opportunity to report on the state of corporate T&E spend."
Top spending categories
Overall, the top three, global travel and entertainment spending categories are the following expenditures:
1.Airfare
2.Lodging
3.Dining
Data showed these top three categories last year comprised more than 60% of the spending, compared to 50% of the total spend in 2010. Entertainment and ground transportation brought that total to more than 70%.
The global average airfare, the category with the largest percentage increase in 2011, rose by an average of $21.74 per trip or about 5 percent compared to 2010. Dining spend was down globally by an average of 1 percent.
List of the top 10 most visited US cities
Just where are the most significant percentages of travel and entertainment dollars going in the United States? In what cities do business travelers spend the most nights? Concur's data shows that, ranked by the number of overnight hotel stays, the top 10 most visited US cities are the following:
1.New York City, New York
2.Las Vegas, Nevada
3.Chicago, Illinois
4.San Francisco, California
5.Orlando, Florida
6.Houston, Texas
7.Atlanta, Georgia
8.San Diego, California
9.Charlotte, North Carolina
10.Dallas, Texas
Spending trends report
Concur's report, Spend Trend: Where Business Travelers Spend Money,provides a data-based view into what's driving an area of spending that is second only to payroll for many companies. Concur makes its T&E Spend Trend report available without charge. It can be downloaded in PDF format.
America is open for business
Concur's in-depth look at $50 billion worth of business travel and entertaining spending is significant. According to data from the US Travel Association, direct spending on business travel by domestic and international travelers, including expenditures on meetings, events, and incentive programs, totaled $233 billion in 2010. Travel is a leading influencer on and reflection of the US economy. Jobs supported by travel expenditures total 14 million, with 7.4 million directly in the travel industry and 6.7 million in other, related industries.
The Obama administration has called for a national strategy to make the United States the world's top travel and tourism destination, as part of a comprehensive effort to spur job creation. President Barack Obama indicates, "Increasing tourism will help local economies and support businesses looking to expand and hire... That's good for local businesses. That's good for local economies. And the more folks who visit America, the more Americans we get back to work. It's that simple... America is open for business."
Boosting tourism boosts jobs. Analysis and insight into the trends within segments of the travel industry inform strategies for travelers, businesses, and policy makers. The framework of a prosperous economy demands strategic insight into the state of its key industries and the trends affecting them
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