Overseas business trips are vital for any flourishing brand worth its weight in gold today. Whether you look upon them as a necessary evil or as a chance to try new cultures, the costs associated with them can be extremely high, and this can extend past finances too.
Foreign exchange experts Travelex carried out some research to find out how much businesses around the globe are spending, and some of the results were surprising.
Astronomical expenses
The average daily spend came out at £353.72, which may not be too shocking to the average British professional, especially when you factor in flights, hotels and expenses.
However, the figures released for the top 10 biggest spending cities was a different matter altogether, with some jaw-dropping figures that few in the UK would dare to pass onto their accounts team.
Those out and about winning over VIP clients in Riyadh, Saudi Arabia, for example, spend on average an astronomical £1,429 per day – a third more than its nearest competitor, which is Beijing, China, where people spend an average of £900.54.
The costs associated with business trips to faraway lands do not stop at cash, however: there is in fact an emotional price to pay for many. The research suggested that parents often harbour guilty feelings each time they jet off and leave their children behind.
29% of women surveyed said they felt business travel was an inconvenience, a figure which is almost double that of men at just 16%. Women were also most likely to worry about a trip abroad (37%), compared to 24% of men.
When you consider the amount of daily jobs your average parent is tasked with, it’s unsurprising that some parents may feel apprehensive about leaving their nest for a day or two. So, what can be done to make the best of a bad situation?
Token gifts
76% of business travellers pick up gifts for loved ones before they return, which may alleviate at least part of the guilt felt by some. There are, however, a few other tactics parents can employ to ensure their household doesn’t implode whilst they’re away:
- Get children to mark off the days until you come home on a kitchen calendar
- Give their temporary guardian some cash to treat them to pizza or a trip to the cinema whilst you’re gone
- Dial in to them on a daily basis with a video call on your smartphone
- Make sure you put some quality time in with them on your return
- Oh, and don’t forget the token airport gift!
But, it’s not just parental concerns that plague people whilst on foreign turf. 31% admitted to feeling worried that their trip will somehow not go according to plan, whilst 20% had reservations about the language barrier.
These worries don’t stop many from turning a blind eye to adopting local customs, however: 69% of us simply don’t bother. This can lead to landing yourself in some hot water, or at the very least create awkward situations.
For example, if you’re spending time in Sao Paulo on business, scheduling last minute meetings simply won’t wash – they expect you to book these in two to three weeks in advance.
In Riyadh, men shouldn’t be surprised to exchange kisses on the cheek with male colleagues – but only once a relationship has been established after the initial handshake!
So, when you are next summoned to an exotic location for that VIP meeting, perhaps a little research could be just the ticket to avoiding a potentially embarrassing situation; check out the full etiquette guide here for more handy advice.