One uncanny culmination of globalization has been the unprecedented expansion of business tourism. Every year, hundreds of thousands of white-collar professionals hop onto a plane for professional endeavors, such as corporate events, conferences, trade fairs, exhibitions, and congresses. As per the World Travel and Tourism Council (WTTC), business travel accounted for 20 percent of the global tourism expenditure in 2021.
However, corporate travel is notorious for being hefty on the corporation. At times, the financial strain falls on individual travelers, as well. But, if you have the right tricks up your sleeve, saving money becomes easy. For instance, did you know it is possible to save some bucks on Forex card transaction charges on your next business trip? How? Let us find out!
FOUR TIPS TO SAVE MONEY ON YOUR NEXT BUSINESS TRIP
- Plan the Meetings Ahead of Time – If you are hosting a business partner for lunch or dinner, you might incur unforeseen expenses. One way to swerve such a situation is to select your restaurant in advance and talk to the manager about your expectations prior to the commencement of the meeting. The advantage is that you can set the tone and stage of your lunch or dinner in advance, and you will not need to worry about the sommelier trying to sell you the wine bottle worth thousands of dollars.
- Choose the Right Accommodation – Needless to say, accommodation is one of the most pertinent expenses on any corporate trip. However, Besides finding a pleasant hotel or rental to foster successful business relationships, you should choose a location close to the clients or the event you will be attending. In addition, your accommodation should have ample access to restaurants for client meetings. Finally, the key is to balance comfort, convenience, and affordability. When booking a hotel for yourself, you can look for a room with a microwave or a small stove so that you do not have to depend on expensive takeout or cafes to satiate your hunger.
- Have a Forex Travel Card Handy – An international travel card can be a boon for your business trips. To begin with, having an international Debit card with zero markup costs means that Forex card transaction charges are zero. Thus, you save anywhere from 6 percent to 11 percent on every card swipe or ATM withdrawal. In addition, an international travel card is immune to currency value fluctuation in the forex market. The lock-in feature means if you load USD 1000 into your card, its value will remain the same regardless of changes in the INR-USD exchange rate. Such stability helps save precious money on international business trips, particularly when times are precarious and the value of the Rupee plunges to a new low daily.
- Consider a Corporate Travel Agency – Collaborating with a corporate travel agency is the last tip on our list to help you save money on business travel. The tip is all the more valuable when the business trip entails multiple employees. Although agencies charge a fee to make your trip smooth, they are better equipped to manage a larger team. Thus, the investment might all be worth it.
So, there we have it, four trips to make your next corporate trip all the more economical. From Forex card transaction charges to planning your meals, the ways to skilfully save money are plenty.