Singapore : Sabre has revealed the results of a survey that compiles insight from over 70 corporate travel management companies (TMCs) from across Asia Pacific, revealing the latest trends in terms of regional bookings.
The survey shows that as economic growth continues to sweep across the region, more and more companies are expecting their corporate travel managers to contribute to their business success, asking them to look for door-to-door travel booking solutions, demanding expense integration and most importantly, to identify cost saving opportunities.
Almost seven in ten (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 region, one travel manager in three 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 reveals 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 reveals 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.
Finally, the Sabre Corporate Travel Survey also reveals 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.