Global travel technology supplier, Sabre Corporation, released the results of a survey from over 70 corporate travel management companies (TMCs) from across Asia Pacific, to find an increasing number of companies are expecting their corporate travel managers to contribute to their business success as economic growth continues to sweep across the region. Door-to-door travel booking solutions, expense integration and saving opportunities are amid the rising requirements for travel departments to master.
Almost seven in 10 (65%) respondents admit they are asked to identify cost savings, and this cost-conscious approach is encouraging travel managers to find new ways to minimize spending. While premium economy continues to gain ground in the region, one travel manager in three has recorded an increase of close to 5% in premium economy bookings over the last year. As travel-related expenses become a central consideration for companies, the survey also reveals that downgrades – shifting reservations from business to economy class – account for close to 40% of their bookings. What’s more, almost one in four companies are increasingly shifting booking volume to low cost carriers.
The survey also shows that 32% of respondents expect solutions that enable mobile booking capacities will become mainstream within the next two years, but only 10% believe that virtual payment solutions will gain widespread acceptance despite the trend in virtual payments becoming significant asset for corporate travel management companies looking to optimize reporting capabilities through rich data.
Finally, the Sabre Corporate Travel Survey also reveals that robust travel policies and better visibility of the total cost of trips are anticipated to become much more important in the next two years. Travel policy compliance remains an important cause for concern, with 76% of respondents indicating that travelers are using online consumer sites offering lower fares and rates to shop for their travel.
“The results of this survey reflect the critical role of TMCs in assuring the business success of their clients, and Sabre is pleased to supply cutting-edge technology solutions that fuel this valuable partnership,” said Todd Arthur, vice president, Sabre Travel Network, Asia Pacific. “More than ever, members of the travel industry need to work closely together to enable a smooth, relevant shopping experience for the traveler. For Sabre, collaboration with leading TMCs is enabling our ability to innovate and to continually reimagine the business of travel.”