Expense Management

Expense Management

July 09, 2013

New York City Ranked Top City for Corporate Travel in US

Thanks to the freedom provided by modern communications technology, the economy is generally thought of on a global scale; most tech companies outsource manufacturing to China, for example, while the Philippines is a popular spot for call center outsourcing. However, a lot of business is still conducted within the United States.

In fact, a recent report on corporate travel and entertainment spending in the country from Concur, a provider of integrated travel and expense management services, outlines the top ten U.S. cities for business travel. Entitled, "Spend Trend: Where Business Travelers Spend Money," this report is based on analysis of $50 billion in worldwide travel and entertainment spending in 2011.

"Last year, Concur helped more than 15 million users in over 100 countries manage their T&E expenses," said Michael Hilton, EVP of worldwide marketing for Concur, in a statement. "This significant volume of transactional data gives us a unique opportunity to report on the state of corporate T&E spend."

Ranked by the number of overnight hotel stays, the top most visited U.S. city was, perhaps unsurprisingly, New York City, N.Y., followed by Las Vegas, Nev.; Chicago, Ill.; and San Francisco, Calif., with Orlando, Fla. rounding out the top five. Coming in at number six is Houston, Texas, followed by Atlanta, Ga., San Diego, Calif., Charlotte, N.C. and Dallas, Texas.

Meanwhile, the top three global travel and entertainment spending categories were airfare, lodging and dining. These categories accounted for more than 60 percent of T&E spending in 2011, up from 50 percent in 2010. Entertainment and ground transportation accounted for another 10 percent in 2011.

Average global airfare, the top category in this report as well as the area that experienced the biggest growth in 2011, rose by $21.74 per trip, or about five percent, as compared to 2010. As such, travel is a major influence on the U.S. economy, with jobs supported by travel expenditures totalling 14 million, with 7.4 million directly in the travel industry.

Edited by Rachel Ramsey

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