Egencia reveals travel policy insights

first_imgEgencia, a travel management company, released its report on ‘Egencia Travel Policy Insights – Global Air Edition’ last month which highlighted findings on air policy trends among its global travellers. The findings show that companies’ concern for improved traveller satisfaction, productivity and talent retention can lead to trends in how policies are defined around the world.Business travel makes up an important component of the USD 1.6 trillion travel market. “At Egencia, we see a huge opportunity to help companies move from unmanaged to managed travel. Building good travel policies is fundamental to this shift, but they are rarely benchmarked,” revealed Mark Hollyhead, Chief Operations Officer at Egencia. “With this report, we take a look at our own data to provide clues on how policies are shaped around the world.”The findings showed some key trends in prior approval, access to premium cabin class, advanced purchase behaviour and day-of-week timing for both booking and travelling.Globally, the vast majority of business air travel is done in economy class, and this may include premium economy. However, many companies unlock access to first or business class based on the length of flight, ranging from four to ten hours. This translates to a higher rate of premium travel for international trips – 33% of international travellers are allowed access to premium travel, while only 12% of domestic travellers get this special treatment.A typical feature of travel policies is a requirement to purchase air tickets well in advance. The recent ARC/Expedia report stated that Egencia clients have been shifting to longer booking windows (15+ days out) for premium cabin tickets originating across multiple countries including the US, the UK and France. With advanced purchase policies, the advantage of choosing the least expensive day to book may not be a priority. However, for last-minute bookings, choosing the best day to save on booking a ticket may make or break business travel plans, especially for a premium fare.Around the world, Monday is the preferred day to travel for both premium and economy class travellers – this gives them time to get their work done and be home for the weekend. However, travel in proximity to a weekend can lead travellers to incorporate some leisure time on a business trip, to create what’s known as “bleisure.” Premium class travellers are nearly twice as likely to stay through Saturday. International travel tends to lend itself to end-of-week travel as well.last_img

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