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Top Biz News

American Express eyes business travel market

By Jiang Jingjing (China Daily)
Updated: 2006-11-14 11:11
Large Medium Small
Travel and entertainment expenses have become Chinese companies' second-largest controllable costs, according to a survey conducted by leading global travel management company American Express.

The firm, which plans to boost its business from local clients in China from the current 5 per cent to two thirds over the next few years, believes it is in a good position to help optimize Chinese enterprises' corporate travel and entertainment expenses.

Charles Petruccelli, president of the firm's global travel services division, told China Daily that the company is shifting its focus from existing multinational clients to local customers, including local small- and medium-sized enterprises (SMEs).

"In almost every market in which we operate, local clients account for two-thirds of our business. Why not in China?" he says.

"We have been maintaining double-digit growth in the past three to five years in China, and our business here even grew by a record high of 41 per cent last year," said Petruccelli.

American Express has a good reputation across the globe, said Petruccelli, as it can help its clients realize the greatest possible value from their investment in travel through increased cost savings, outstanding customer service and greater control over spending.

For small businesses, medium-sized enterprises and multinational corporations, American Express' business travel division provides a combination of cutting-edge booking technology, travel management consulting expertise, strategic sourcing, supplier negotiation support and customer service.

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