Improve Efficiencies and Controls on Corporate Spending in China

There’s a sharp rise of 13.3% in corporate travel in 2011 in China. The dramatic increase will continue as companies in the country search for new trading partners and business development opportunities.
 
Finance professionals need to seek innovative ways to help the company operate more efficiently and better manage their costs.
 
This Visa report, based on face-to-face interviews and discussions with key executives from various industries in China, identifies the major trends and dynamics shaping the corporate travel industry in the country. 
 
Key Findings:
  • There’s a rise in domestic trips and there are changes in international business trip destinations as the trading is shifting to new markets,

 

  • Improving traveler satisfaction levels and the reduction of cash advance are the two main reasons of the companies in deciding to adopt the corporate card program,

 

  • 86% of the respondents says that the program has achieved the strategic goals and half of the respondents have 100% of their workforce fully utilizing the corporate cards for T&E expenditure 

 

 

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