More and more companies are expecting their corporate travel managers to contribute to their business success in the Asia-Pacific region, new research has revealed.
The study, conducted by travel tech player Sabre, found that 65 per cent respondents admit they are asked to identify cost savings, and this cost-conscious approach is encouraging travel managers to find new ways to minimise spending.
While premium economy continues to gain ground in the APAC region, one in three travel managers has recorded an increase of close to five per cent in premium economy bookings over the last year.
As travel-related expenses become a central consideration for companies, the survey also revealed that downgrades, shifting reservations from business to economy class, account for close to 40 per cent of their bookings.
What’s more, almost one in four have identified a significant increase in their LCC share of volume.
The survey also revealed that 32 per cent of respondents expect solutions that enable mobile booking capacities will become mainstream within the next two years, but only 10 per cent believe that virtual payment solutions will gain widespread acceptance.
Furthermore, Sabre found 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 per cent of respondents indicating that travellers are using online consumer sites offering lower fares and rates to shop for their travel.