Amex GBT sees big gains from tech customers

The travel management company said a recent survey of its top 100 clients found that they expect their travel spend to increase by 8% by 2024

May 8, 2024

The focus on business travel often centers on large corporations with strict travel policies that require employees to use approved tools and select discounted hotels and airlines. In the first quarter, these companies were a significant driver of American Express Global Business Travel's success.

Key takeaways

  • AmexGBT saw strength in transactions from global multinationals, particularly technology companies, which grew by 30%;
  • Other sectors also experienced double-digit growth, including pharmaceuticals, mining, energy and utilities;
  • Small and medium-sized businesses, which represent the greatest opportunity for new business, experienced a 3% decline in transaction growth in the fourth and first quarters.

Get the full story at Yahoo! Finance

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