Company Travel Spend
To obtain a breakdown of travel spend by company size for the purposes of determining the market size of the SMB business travel market.
Preliminary research indicates that a breakdown of travel spend by company size is not readily available. Although there is some older data on how much global SMBs spent per traveler each quarter compared to large companies, there is no current report that indicates how this expense has grown. There is also some data on average budgets for companies based on revenue.
- In 2017, U.S. companies spent $293.1 billion on business travel.
- Companies with less than $100 million in revenue have an average travel spend of $700,000.
- Companies with between $100 million and $500 million in revenue have an average travel spend of $1, 500,000.
- Companies with between $501 million and $2 billion in revenue have an average travel spend of $7,400,000.
- Companies with more than $2 billion in revenue have an average travel spend of $58,000,000.
- According to a 2013 report from Concur Expense, global SMBs spent $2,537.33 per traveler per quarter compared to $2,050.95 for global large businesses.
- Even though this report is older, it is still being cited by current sources.
- A current trend in business travel is that SMEs are increasing travel spend "in support of their growing ambitions."
- In 2016, nearly two-thirds of middle market respondents to an American Express Global Business Travel survey said they had increased the amount spent on travel compared to 2015.
- In 2018, 40% of SMEs intended to spend more on corporate travel compared to 32% in 2017.
- Travel expenses range from between 6% and 12% of a company's annual budget.
- Global travel is growing at a CAGR of 7.1%.
- In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.
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