Study Shows Asia Lags In Policy

Study Shows Asia Lags In Policy

By Patricia Wee

Companies in the Asia/Pacific region do not maximize the potential savings on travel and entertainment expenditures, according to American Express International's new study, "Fundamentals of Business Travel Management and Supplier Trends."

Referring to the Asian financial flu, Brad Prentice, Amex director, head of corporate services, Singapore and Malaysia, said, "Current economic conditions are forcing companies to review their T&E expenditures as one way of controlling expenses."

Amex found that in Singapore, only 48 percent of companies have a written travel policy, while only 46 percent have a single, designated travel management company.

Average annual travel and entertainment expenditures by companies across Asia/Pacific range from a low of $69,230 to a high of $696,000, the Japanese average, the study found. Singapore-based companies spend an average $284,810 per year on T&E.