Concur releases its globally renowned Travel & Entertainment report for the first time in India
Bangalore and Mumbai among the top 25 international cities visited for business
Concur Report Provides In-Depth Look at $50 Billion Worth of T&E Spend
Analysis reveals where Concur users are spending money, where they aren’t, and the state of the travel and entertainment industry both globally and specifically in India
Mumbai, April 25, 2012 -- Concur (Nasdaq: CNQR), the leading provider of integrated travel and expense management services, today released its second global report on corporate travel and entertainment (T&E) spend and its very first report in India. Compiled from the detailed analysis of more than 500 million expense line items from its corporate clients, representing more than $50 billion in spend, the data offers travel and expense managers insight into global and regional spending trends, helping organizations of all sizes make more informed decisions. “Last year, Concur helped more than 15 million users in over 100 countries manage their T&E expenses,” said Christopher Juneau, Senior Director - Marketing, Concur Technologies. “This significant volume of transactional data gives us a unique opportunity to report on the state of corporate T&E spend, in turn shedding light on ways our customers can drive down costs and better manage their bottom line.” Concur’s T&E Spend Report is compiled from a representative sample of Concur’s extensive database of corporate travel and expense transactions. The report ranks the ten largest categories of T&E spend and most expensive cities for business travel, including the average cost per transaction, and a comparison of that spend year-over-year. It also offers a detailed look at the regional spending trends in some of the most popular hubs for business travel throughout the world including Australia, Canada, France, Germany, Hong Kong, India, Japan, United Kingdom and the United States. Key findings include:
- The top three global T&E categories – airfare, lodging and dining – comprised more than 60 percent of total spend, compared to 50 percent of total spend in 2010. Entertainment and ground transportation brought that total to more than 70 percent.
- 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
- The most visited international city in 2011 was London, followed by Shanghai, Singapore, Beijing and Toronto. While Bangalore ranked 11, Mumbai ranked 20
Concur announced its entry into India with an investment of $40 million for a minority stake in Cleartrip, India’s leading online travel portal earlier in 2011. With hundreds of clients in India today, Concur has working partnerships with American Express, ICICI Bank, Citibank, AirPlus, BCD Travel, FCM, Amadeus and many more About Concur Concur is a leading provider of integrated travel and expense management solutions. Concur’s easy-to-use Web-based and mobile solutions help companies and their employees control costs and save time. Concur Connect is the platform that enables the entire travel and expense ecosystem of customers, suppliers, and developers to access and extend Concur’s T&E cloud. Concur’s systems adapt to individual employee preferences and scale to meet the needs of companies from small to large. Learn more at www.concur.com. Press Contact: Rhea D’Souza / Arathi Menon Corporate Voice | Weber Shandwick T: 40311200 E: email@example.com / firstname.lastname@example.org