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Millennials Are Frugal With Business Expenses

by Megan Hill

Sep 14, 2018

Millenial Business Meeting © Sarinya Pinngam | Dreamstime.com

Feature

Millennials’ frugality – wrought by the 2008 financial crisis – extends to business travel expenses.

A new report on expensing by the Global Business Travel Association found millennial employees are more likely to save their companies’ money by avoiding high room service bills, instead opting for cheaper take-out dining compared with older colleagues.

These younger workers are also less likely to visit the minibar or order additional snacks and coffee, even if the company travel policy allows it.

Baby Boomer employees are more likely to choose expensive client dinners while Generation X workers opt for group dinners with colleagues.

Across all generations, 64 percent of business travelers choose to eat at upscale casual restaurants, while 52 percent go for fast casual, 34 percent for fast food and 29 percent for fine dining.

But more than half of millennial travelers (51 percent) said they eat fast food when on business trips. Meanwhile, 79 percent of Baby Boomers preferred upscale casual.

“The research reveals that clear generational differences exist when it comes to preferences around dining out while travelling for work. For travel buyers considering a preferred dining programme, it’s important to make sure the programme you choose meets the needs of all of your travellers,” said Jessica Collison, research director, GBTA.

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