Survey shows companies' travel and entertainment budgets increase in 2015
Updated: 2015-11-26 16:54
By Shi Jing in Shanghai(chinadaily.com.cn)
|
|||||||||||
Despite a continued economic slowdown in China, company executives have indicated that their travel and entertainment budgets have grown 4.79 percent year-on-year in 2015, exceeding the 3.1 percent predicted at the beginning of this year, according to the survey released by business travel service provider CITS American Express Global Business Travel.
About 43 percent of surveyed companies said that they have increased their budgets this year, up from the 34 percent in 2014. Besides, 45 percent of the polled organizations reported keeping their travel and entertainment budget stable year-on-year. Only 12 percent of the companies reported a reduction in their budgets, which is down from the 17 percent reported one year earlier.
Meanwhile, 49 percent of the companies consider travel as "investment" rather than a "necessary cost", up 11 percent from that two years ago.
"Business leaders recognize the importance of travel as a contributor to revenue growth. As conditions get tougher, they seem to be sharpening their focus on driving top-line growth and making more efficient and effective usage of their business travel budgets," said Marco Pellizzer, vice president of American Express Global Business Travel Chinese Mainland and Hong Kong.
The survey consulted opinions of 188 executives in China coming from both smaller companies with a headcount of less than 100 and large-size enterprises with a headcount above 500. These respondents mainly come from manufacturing, technology, financial and pharmaceutical industries.
Established in 2002, CITS American Express Global Business Travel was the first China-US business travel joint venture set up in China.
Related Stories
Business travel spending to surge by 15.6% this year 2015-08-21 13:42
Business travel to see robust growth this year 2015-04-02 08:18
Business travel card program to be expanded 2014-11-07 07:52
Business travel gets lift as more firms go global 2014-11-06 09:43
Mobile gadgets play a growing role in business travel market 2014-09-19 10:41
Today's Top News
Surviving Russian pilot says no warning from Turkey
Xi to attend Paris climate conference
Putin: Turkey's downing of jet 'stab in the back'
Russian senior military official confirms death of one Su-24 pilot
Nations to boost infrastructure ties
Turkey downs Russian fighter jet near Syria border
Premier: China ready to advance Baltic Sea high-speed rail project
Fiscal subsidies and contributions can bridge pension fund deficit
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Xi just needs to turn up for a grand welcome |
Stepping up |
Rural families still hope for male heirs |
Blue skies over Beijing ... for now |
V-Day parade for 70th WWII anniversary |
Tianjin blasts: Death, damage and bravery |