If you’re flying across Australia to do business and you’re feeling the pinch on your wallet, you’re not alone.
A new report from Concur has named Brisbane the most expensive city in the world for business travel, while Sydney, Perth, and Melbourne also made the top 10.
Michael Eberhard, executive vice president of Concur, said that companies must be sure to make considered choices when it comes to business travel.
“The second largest controllable spend for most companies is travel and expenses, making visibility into this area ‘mission critical’,” Eberhard said.
“With [Brisbane] still in the midst of the mining-related construction boom, accommodation costs have contributed significantly to its position at the top of the list. These increases are influenced by the influx of fly in, fly out workers to the city, and the growing importance of corporate hospitality to the Queensland economy,” he said.
Coming in at third on the list overall, Sydney the takes top spot as the most expensive city in the world to eat. For business travellers a meal in Sydney costs, on average, AUD$75 a person, compared to AUD$52 in Paris.
Companies are now spending less on dining and entertainment than they did in 2011. Spending on dining decreased by almost 4 per cent, while entertainment spending fell by over 14 per cent.
On the other hand, spending on lodging rose almost 4 per cent, and spending on ground transportation increasing by just over 7 per cent.
The report also found that on average, SMBs are more active than large market companies, filing expense transactions almost 20 per cent more frequently, and spending up to 25 per cent more while on the road.
Car rental was the biggest area of spending, followed by lodging, dining, and airfares.