Seven months after having tried for the first time to publish an index of business expenses – necessarily gloomy for the business travel actors – Jenji does it again. Its new report, focused on the second half of 2021, has delivered its findings. And it confirms the recovery of travel that started last year, at least in comparison with the figures recorded during the previous year. According to the authors of the index, ” The total of expense reports made in the first quarter of 2021 corresponds to the total of expense reports made in the whole year 2020. This represents an 81% increase: a good sign of economic recovery! “
Service companies are back in the field
Another sign of recovery is that food and beverage expenses also exploded last year compared to 2020. ” Service companies are back in the field and starting to spend much more than before,” the index authors note, with figures to back it up: “Companies are catching up and meal-related expense reports are increasing significantly: +160% in 2021 compared to 2020; 300% in Q3 2021 (compared to the same period in 2020); +150% in Q4 2021 (compared to the same period in 2020),” it says.
Admittedly, with 2020 being an annus horribilis, the comparison is necessarily biased. But beyond these triple-digit increases, the data published by Jenji allows us to identify – or confirm – changes that could well have a lasting impact on the relationship between business travel and the office. Starting with the affirmation of a hybrid model, the acceleration of which is one of the major trends identified by Jenji. ” The hybrid model allows workers to experiment with both on-site and remote work,” the study’s authors say, adding that ” this makes tracking and reporting expenses more difficult. Today, telecommuting is taking hold and becoming the norm. Expense reports for food and beverages have dropped sharply, while those for office equipment and computer hardware have skyrocketed. According to Jenji’s figures, 63% of these expenses are for Internet connection, compared to 26% for software and 11% for hardware.
Train has a head start on airplane
Another lesson from the Jeinji index is the rise of the train at the expense of air travel. ” The train is ahead of the plane,” say the authors of the study, who expect passengers to take longer to return to their aircraft. ” The airline industry is expected to be less important in the coming years; globally, airlines will not return to 2019 traffic levels until 2024, leaving a great opportunity for the rail world.” And for business travelers who have already returned to the airport, their approach came outThe Jenji index points out that “for a certain category of companies, since the third quarter of 2021, flight spending has been on the rise again. Indeed, the Jenji index underlines: ” for a certain category of companies, since the third quarter of 2021, flight spending is picking up again (these are only open bookings, i.e. bookings made on general public sites directly, or outside the tools recommended by the company). Indeed, the number of reported expenses has returned to the level of the third quarter of 2019 and there is an increase of 162% in the fourth quarter of 2021 compared to the same period in 2020. But, these numbers remain low and the annual increase is only 42% between 2020 and 2021 (European bookings in 82% of cases).”
Finally, the Jenji Index also places a strong emphasis on green and sustainable mobility. Pointing to the success of the Sustainable Mobility Package – with expense reports up 227% since November 2019 – the authors testify to an unprecedented craze for micro-mobility solutions. For example, according to Jenji, scooters saw a +461% increase in Q3 2021, compared to the same period in 2020. For bicycles, the increase has reached 340% since November 2019.
” Corporate spending behavior is evolving to adapt to recent societal changes,” testifies Pierre Queinnec, CEO and founder of Jenji. ” Our Index proves that companies have greatly evolved their methodologies and strategies. Managers and employees alike are finding solutions, notably through technology, and are changing their habits.
I’m Michelle, and I love to travel. As a former hotel expert for one of the world’s largest hotel chains, I’ve stayed in nearly every type of room imaginable (including many that were not so desirable!). Nowadays, I am fortunate enough to be able to explore the world on my own terms. From international flights to learning different languages, there is nothing too far out of reach!