Travel expenses are going up: Air fares have gone up nearly 6 percent and hotel expenses have risen more than 4 percent in the past year, according to a new study.
The study by expense management firm Concur Technologies Inc.
Concur Technologies Inc.
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(NASDAQ: CNQR), of Redmond, shows that of the top 10 spending categories in the US, only dining expenses, car rental costs and telecom costs have gone down in the past year.
Want to know the top 10 most visited US cities for business? Click here.
Air fares listed on expense accounts now cost an average of $421.58 and constitute more than 26 percent of total spending of US travel and expenses.
Hotel costs have risen to an average of $89.07 and are 20.1 percent of travel and expenses. Of the nation's 25 largest cities, New York has the highest average hotel room rates, at $198.32.
Dining costs make up more than 10 percent of total travel and expense spending, and have fallen by 1.6 percent in the past year to an average of $37.52. New York also has the highest average dining costs, at an average of $68.13, as well as highest entertainment costs, at $171.95. San Jose, Calif., had the highest ground transportation costs, at an average of $46.02.
And where are business people going on their trips? Not as many business people are making trips to Seattle as they are to smaller markets such as San Antonio and Austin, Texas. Seattle ranks No. 20 in Concur's list of top 25 most visited US cities by business travelers.
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Source: http://www.losjavelin.com/2011/09/05/slideshow-top-10-cities-for-business-travel/
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