Millennials and business travel: Here’s what they’re spending
If you’re expecting the selfish, entitled stereotypes surrounding the Millennial generation to carry over to T&E spending you’re going to be surprised.
These generalizations generally don’t play out in work-based travel, based on a recent Concur analysis of Millennial T&E spending habits.
Considering that this group is now the biggest in the workforce, that represents some
major spend.
Check your reports against these
Pass these benchmarks on to Accounts Payable so they can see how your own Millennial spending compares:
- dining and entertainment: $44 per transaction (vs. $56 for employees ages 36-65)
- meals: $33 per meal (vs. $39 for colleagues between ages 36-65)
- hotel-related expenses (rooms, parking, Wi-Fi, room service): $114 per transaction (vs. $111 for senior colleagues).
Keep feedback coming
To keep compliance up, try exploiting another Millennial stereotype: They seek constant feedback.
That one often holds true, so feel free to touch base with Millennial road warriors and let them know how they’re doing with travel spending and expense reporting. They’ll likely welcome the info.
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