Business travel is travel carried out for business or work-related purposes, rather than for leisure or other non-business reasons, as against other forms of travel. As a result, according to a recent survey quoted by Travel & Leisure magazine, a whopping 85% of business owners love business travel. They will go anywhere in the world they want, they will eat at restaurants they enjoy, they may even take a golf break. And who can talk about fun and travel like these guys do? Business travel has become a very attractive market for all types of operators. There are lots of things that people don’t usually consider when they think of going on business trips, but if you can offer a viable business travel package, you could be well on your way to making a good name for yourself in your chosen line of work.
Businessmen are increasingly seeking unique experiences on their business travels. One of the hottest trends in the travel industry today is “business travel with a difference.” Companies are increasingly using corporate travel to face-to-face meetings with key business clients and counterparts. For example, some firms are arranging face-to-face meetings with Chinese leaders and Indian prime ministers. Or they might be making a state visit to a country where business opportunities abound.
Business managers looking for unique experiences can find many experiences waiting for them in waiting areas that have interesting cultures and landscapes, at resorts and hotels that provide unforgettable experiences, and at taxis that have creative service that is appreciated around the world. However, what managers might not know is that they must also pay some kind of necessary expenses related to these trips, because these trips aren’t exactly low-key affairs. Sometimes it’s necessary to rent a car, sign up for a flight, or get security clearance. These are necessary expenses related to business travel that anyone who travels regularly will need to cover. So what are the options?
Business phone expenses aren’t covered by most forms of travel insurance, but there are packages available that are designed to reimburse you for necessary business travel expenses. One option is an all-inclusive package that covers everything you need, such as business hotel rooms, meals, and even taxi rides when needed. You can select this option based upon your particular needs and budget. The other option is a more flexible bundle that allows you to choose which expenses are reimbursed. For instance, some packages include mileage, while others only reimburse you for the airfare and hotel costs. Again, you will select this option based upon the particular needs of your business travel program.
Another way that business travelers can save money on their travels is by booking face-to-face time with executives. This is particularly important for those who regularly participate in international business meetings or events, where they have the opportunity to make personal connections and form business relationships that could span countries, regions, and industries. In fact, it is estimated that face-to-face meetings account for one in ten business trips overall.
One final way that you can trim expenses when it comes to business travel is to make sure you don’t double up on any of your business travel expenses. If you are traveling with family members, be sure to tell them about your charitable contributions and the deductibility of these expenditures when filing your taxes. Similarly, if you are using a corporate car, be sure to tell your driver you’ll be donating the car’s unused deductible to a charitable cause. Don’t be tempted to simply use the corporate car to get around! Double-diping on travel expenses can amount to a hefty tax hit.