Foreign Business Travel: Getting a Handle on Rising Costs

Abstract

Although they are frequent and expensive, shortterm international business trips often receive less attention by employers in terms of cost control. They should be more carefully monitored and controlled. Having access to daily cost information (per diems) for business travelers_representing accommodations and meals_offers a source of data that can help an organization set a fair but cost-effective business travel policy. Another use for per diem data is to develop an accurate cost projection, which may make or break an important bid. And having several expense levels available allows management to tailor a per diem that suits not only an employee's job level and status but also his or her job responsibilities on location. In either case, efficiency and fairness can go hand in hand.