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Rate of Improvement: 3 ways to help manage travel spend

August 18, 2022

Headlines abound with news of energy price hikes, a labour squeeze and pockets of geopolitical tension. There’s a great deal to be positive about when it comes to the return to travel and meeting in person but uncertainty doesn’t make it easy to plan and manage spend.

Here are some insights from the CWT GBTA 2023 Global Business Travel Forecast to help you get the most value from business travel.

The long view

A longer booking window helps you take advantage of advance purchase rates, which can make for savings at a time when rate are rising.

Booking as early as possible will also help to ensure availability. Use the myCWT app to book flights, hotel and car rental at the same time to keep everything in one place and make it easier to stick to your travel program parameters.

We go way back

Stay within your preferred supplier network and make it easy for employees to sign up for their loyalty programs. Forming genuine partnerships with suppliers will pay dividends.

Beyond the bill

Purposeful travel balances value for money, employee well-being and environmental responsibility, supporting business objectives and allowing teams to thrive.

Attracting and retaining talent are becoming key priorities for organizations leading many to evaluate their corporate travel policies to embrace more balanced and sustainable programs.

Gone are the days of limiting travel to the cheapest class and airfares, or halting air travel altogether in name of slashing costs.

Considering how and when to travel  and taking a strategic approach to smart, flexible and purposeful travel policies to achieve higher level business objectives gives companies a competitive advantage.

For more insight into future pricing and planning for air, hotel and ground transportation download the CWT GBTA 2023 Global Business Travel Forecast.


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