Rocketrip 2017 Business Travel Spend Report
Rocketrip has analyzed expense data from thousands of business trips to produce a view of how business travelers spent on flights, hotels, trains, and rental cars in the past year.
Who - The data set provides a unique view into the spending habits of business travelers. On an average per trip basis, business travel costs 66% more than leisure travel. That disproportionately high spending is explained by the fact that business travelers are relatively price insensitive. Rocketrip focused on the spending patterns of U.S.-based business travelers across domestic and international trips.
Method - Rocketrip is a behavioral change platform that reduces clients’ travel costs by giving business travelers a budget for what is reasonable to spend on a trip and incentivizing them to spend less. Rocketrip’s analysis of spending in 2017 shows business travelers’ actual purchase decisions in the context of market prices and the spending guidelines outlined in their company’s travel policies. Each traveler received a custom budget based on an algorithmic prediction of what a given itinerary should cost. If the traveler spent less than the target, he or she kept half of the savings.