Business travel is getting back to normal - should you choose a business credit card?
It seems like business trips are back on the cards, with the Australian corporate travel industry tracking back at roughly 80% of pre-pandemic levels, according to the Flight Centre Travel Group.
While travel has taken a hit over the past few years, relaxed travel freedoms and open borders seem to have revived the industry. Predictions from the Global Business Travel Association had expected business travel to take until 2026 to recover, but current figures in Australia tell a different story.
Chief executive of Sydney’s International Convention Centre (ICC), Geoff Donaghy, says that the lasting impacts on global travel are not being felt as keenly in Australia. The ICC has seen domestic conference attendance back on the same level as it was in 2019, with a growing international presence.
Indeed, Flight Centre’s corporate travel arm has recovered to more than 89% of their business volume from prior to COVID-19, with the majority of that coming from domestic travel.
Travel can be an essential part of running a small business. From recruitment to networking, conferences to clients, there are a lot of reasons you might find yourself hopping on a plane on the company dime.
If it’s your company, figuring out expenses can be tricky. A business credit card might just be the option for you and your employees.
Why would I choose a business credit card?
Opting for a business credit card is a big decision, as it can take a little more navigation than picking your own personal credit card. After all, you aren’t the only person using this!
Business credit cards are designed to be used exclusively for business expenses, but allow you (and your employees) to put all of your work purchases in one place. This can make workplace spending easier to oversee and manage.
With a single overarching account, rewards points are often pooled to maximise on benefits throughout an entire company rather than just to one person. This can be especially beneficial for companies where you’ll be using those travel perks - as increasing numbers of people clearly are!
Pooling frequent flyer points, access to airport lounges and included travel insurance are some of the perks of many business cards.
Just keep in mind the fees that come with a business credit card are often higher than those associated with personal credit cards.
Learn about all things corporate card-related with our guide to business credit cards. If a personal credit card suits you better, find some standouts with the best credit cards.