Keeping a lid on operating costs may mean a deferment of travel, with new analysis showing November to be the peak period of business travel.
Specifically, 15 and 16 November are the biggest days to avoid, according to Concur, as these are likely to be the busiest days for 2017 based on an examination of global travel data.
“Winter is over and the end of the year is in sight, which means many people are scrambling to make their numbers before the Christmas break,” said Matt Goss, Concur’s managing director, ANZ.
“That means business travellers are hitting the road in October and November. Concur’s data from 2016 showed that Wednesday, 16 November, and Thursday, 17 November, were by far the busiest travel days last year, so it makes sense that Wednesday, 15 November, and Thursday, 16 November, will be similarly busy this year.”
The surge in business travel means delays and reduced productivity at busier airports, hotels and transport hubs. Yet it also means the likelihood of premium prices.
“The research shows that Wednesdays and Thursdays are the most popular travel days for business so, travellers should consider shifting their travel days to Mondays, Tuesdays, or Fridays,” Mr Goss said.
“[Our] data also shows that booking eight to 14 days in advance can help secure the lowest airfares because, after that, prices tend to jump by as much as 44 per cent.”
Separate research conducted by American Express found that business travel is one of the most-sought after work perks of business executives.
Some 77 per cent of those surveyed by the credit card giant rated it as an important benefit when considering a new job, ahead of traditional incentives like a company car allowance and share scheme.
“Not only is business travel something that executives enjoy, but it’s increasingly becoming a critical part of business growth. Companies shouldn’t underestimate the power of meeting face-to-face and the relationships that can be fostered over a handshake instead of a phone call,” said Becky Cook, vice president of American Express Global Commercial Payments.