Business Travel: A $1.12T Global Opportunity

In the U.S., business travelers take 460 million trips a year.* Think about that number for a minute. That’s more than 1.2 million trips a day. Business travel is one of the most lucrative segments of the travel industry. The business traveler spends an average of $5,600 per year, including flight, hotel, transportation and dining expenses. For business travelers, productivity and efficiency come first and foremost—they have to get to their meetings on time, so they’ll spend the extra dollars on a car service versus sharing a ride.

This large and lucrative segment is very much underserved by apps and services. The majority of travel apps in the market now are designed for leisure travelers. Yet business travelers spend more than three times as much as leisure travelers per trip and travel far more frequently. They’re also more reliant on mobile devices for travel information.**
Infographic: Where Are All the Business Travel Apps?
The infographic provides a snapshot of the $1.12 trillion business opportunity for your apps and services.

So, how do you tap into this fast-growing opportunity? The Concur Platform is the glue that can help. Concur is a leading provider of integrated travel and expense solutions serving more than 60% of Fortune 500 companies. The Concur Platform is now open for third-party developers to build integrations and innovative services for 25 million business travelers using Concur worldwide.

More than 150,000 trips are booked with Concur every single day. Last year, Concur processed more than $55 billion in expenses for more than 20,000 companies worldwide. This gives you global customer reach and helps startups acquire new customers and grow their business.

Additionally, Concur also has a $150 million fund called The Perfect Trip Fund, which provides the financial backing, strategic counsel and industry expertise entrepreneurs need to deliver the travel solutions of the future.

The Concur Platform is seeing rapid adoption across the travel industry. Companies like Uber, Airbnb, United, Avis, TripLingo and travel services worldwide are now integrated with the Concur Platform to offer cutting-edge solutions.

Travel APIs & $100,000 in Funding Awards—at The Perfect Trip DevCon 2014

Bonus: On Oct. 30, 2014, Concur and TripIt are hosting the annual developer conference, The Perfect Trip DevCon 2014, in San Francisco. Register to learn more about the Concur Platform and pitch your innovative idea for $100,000 in funding awards.

For ProgrammableWeb readers, we’re giving away 10 registrations (first come, first served). Be one of the first 10 to register with the code PTDCPW and you’ll get a free pass to The Perfect Trip DevCon 2014.

*Source: U.S. Travel Answer Sheet, U.S. Travel Association, 2013.
**Source: Where are All the Business Travel Apps? Infographic, Concur, 2014.

Be sure to read the next Air Travel article: The Routehappy API Provides Flight Quality Indicators