Do you track total trip cost?

Coming out of a sustained period with little or no travel, companies are now closely reviewing the value of sending employees on business trips. Measuring total trip cost can help employers make informed decisions and better define their business travel strategies. This past fall, BCD Travel’s Research & Innovation team asked 106 buyers if they tracked total trip cost (TTC) in business travel. More than half said they don’t currently track TTC but would like to do so in the future.

Natalia Tretyakevich, Senior Manager, Research & Intelligence, BCD Travel

Ninety-four percent (94%) of respondents track direct travel costs, e.g., payments to travel suppliers, meals, roaming charges and other incidentals. Apart from these costs, four in 10 track work-related and indirect travel costs. Few respondents measure sustainability and other hidden costs. Among those surveyed, a quarter track Total Trip Cost as a key performance indicator. Those who do track the indicator have different ways of doing so.

“Total trip cost has always been important, but many travel teams struggle with its calculation,” said Natalia Tretyakevich, Senior Manager, Research & Intelligence at BCD Travel. “TTC will keep being a relevant KPI but only if measured correctly. We see positive signs: more travel buyers acknowledge its importance and have started tracking TTC. In addition to keeping an eye on the most straightforward direct travel costs, they increasingly include other indicators, such as sustainability, in the equation.”

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