Business

The lack of business travel saved 50 billion euros to German companies

A Boeing 747 plane lands at Frankfurt International Airport last week. (AP photo)

Berlin: German newspaper Welt am Sonntag reports that German companies spent 50 billion euros (60 billion US dollars) less on business trips in 2020 due to the coronavirus pandemic.

“We estimate that they spent an amount ranging from medium to high number to one figure on business trips last year,” said Hans Ingo Bell, president of the German travel management association VDR, in an interview with the newspaper.

That would represent a decrease of up to 90% from 2019. Behl added that he expects business travel expenses to remain well below pre-pandemic levels in 2021.

Additionally, Welt am Sonntag reports based on their survey that large companies – such as Bayer AG and BASF SE – have seen savings of hundreds of millions of euros, and many expect not to return to previous travel levels.

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