There’s only one direction for business travel costs at the moment: up. That’s according to the Global Business Travel Forecast 2023, which predicts that airfares will rise 48.5 per cent in the remaining months of 2022 and 8.5 per cent next year. Hotel prices are also expected to increase by 18.5 per cent this year and 8.2 per cent in 2023. However, for companies concerned about the costs associated with travel and lodging, there are ways to reduce business travel expenses without sacrificing comfort or reliability. Follow these tips from the pros: Enforce your Travel Policy (or create one quickly!) With a travel policy in place, companies can ensure that their employees follow best practices and use company resources wisely. But what good is a policy if no one follows it? A travel management company (TMC) can help you create a policy but also enforce it because your travellers can only book with approved service providers. “A travel policy isn’t something that needs to be imposed on your team. Ask your employees for their ideas on how to save on business travel expenses. You’ll be surprised at the creative, cost-saving solutions they come up with,” says Bonnie Smith, GM Corporate Traveller. “A great policy is one that is customised, taking into account the unique needs of both your company and travellers.” Get Access to the Best Deals If you want to save on travel costs, one of the best things you can do is get access to a better flight…
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