It’s good news for wannabe jetsetters as companies have revealed they are spending an average of £2,282 on business travel each year, per employee – according to new research from TravelPerk. According to the Value of Business Travel Report nearly half of those holding the purse strings plan on increasing their company’s travel budgets throughout the year and into 2025.
The industry that is increasing their business travel budgets the most this year is Travel & Tourism. In second place is the Tech industry, followed by Environment & Agriculture, Manufacturing, Infrastructure & Transportation and Finance.
79% of Gen Z welcome the chance to travel for work as it gives them the opportunity to explore new places alongside a variety of personal and professional benefits. A third say they have extended their trip to make the most of it, including to save on personal travel and to relax before returning to the office
Felicia Williams, VP of People at TravelPerk said: “With a new generation entering the workforce, we’re seeing their thoughts on blended travel and its perceived benefits shape what they view as meaningful value in the workplace. Reducing carbon emissions and saving money on personal travel is high on the list of importance, and Gen Z is resourceful in how business trips can help them get the most from both.
“As companies across industries seem set on expanding their travel budgets, they can consider more ways of recognising their return on investment, as our research shows this can lead to increased talent attraction and healthier employee retention rates.”
The top-10 industries to work for if you want a chance to travel:
1. Travel & Tourism (60%)
2. Tech (57%)
3. Environment & Agriculture (54%)
4. Manufacturing, Infrastructure & Transportation (51%)
5. Finance (50%)
5. Creative & Design (50%)
6. Marketing & Advertising (49%)
7. Logistics (48%)
8. Hospitality & Events (47%)
9. Education (45%)