Spending on air, rail by Indian businesses sees highest rise: Concur Report

Bangalore: The average percentage spend on lodging (31%) was the highest in India as compared to other Asia Pacific countries like Japan (23%), Hong Kong (25%) and Australia (14%). Also, India ranked the lowest in average entertainment spend at 2.44%. the highest being 8.14% in Japan in 2012.

Concur, global integrated cloud-based travel and expense management services provider, released its third annual global report on corporate travel and entertainment (T&E) spend. The report analyses more than Rs 3 lakh crore ($50 billion) in corporate T&E spend. The report generated expense data from Concur's over 18,000 corporate clients.
The spend data was analysed for nine nations worldwide, including the US, UK, Canada, France, Germany, Hong Kong, Japan, Australia and India.
In case of India, the rupee declined 12.4% against the dollar between 2011 and 2012. Accounting for this change in exchange rates, India saw an 18% increase in the average airfare transaction, which is the highest recorded increase globally. Rail costs also increased nearly 58%, highest across the US, UK, Canada, France, Germany, Hong Kong, Japan and Australia.
Surprisingly, the average gas transaction declined 4.2% suggesting that rising fuel costs were not the only factor behind the higher airfare and rail amounts.
25/07/13 Neha Pandey Deoras/Business Standard

Blogger Labels: rail,Indian,Concur,Report,percentage,India,Asia,Pacific,Japan,Hong,Kong,Australia,Also,entertainment,expense,management,services,provider,data,clients,Canada,France,Germany,rates,transaction,factor,Deoras,analyses,nations,airfare