Concur released data examining the true costs of last-minute business travel.

The study revealed booking airfare for these trips generally costs 44 percent more when booked fewer than seven days before departure, when compared to booking costs 15 days before departure. Costs were particularly overinflated closer to departure dates in January and August. However, if travelers book eight days before their trip, rather than seven or fewer, the cost is only 22 percent more than normal, splitting the price inflation by half.

“It’s common knowledge that last-minute air travel will cost significantly more, but booking those last-minute tickets eight days in advance is the sweet spot for keeping those last-minute costs as manageable as possible. With more data, businesses can make smarter decisions about business travel policies, budgets and back-end processes that ultimately save resources,” said Tim MacDonald, senior vice president of travel, Concur.