The 1995 Corporate travel index in Taiwan

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Title: The 1995 Corporate travel index in Taiwan
Author: Yu, Mei-hsiang
Abstract: With the growth of its economy. Taiwan has also become more of a business travel destination. In 1994, the Taiwan's government and the tourism industry have made great efforts in promoting the tourism trade. In addition, hotel capacity and airline accessibility into Taiwan have increased. These factors have generated new opportunities and competition in Taiwan's travel industry. Business travel is indeed a controllable expense, but efficient corporate travel management requires companies to do research in the marketplace, to negotiate effectively with travel suppliers, to plan their travel arrangements carefully, and to organize the payment reports and reimbursement. The Corporate Travel Index in Taiwan is a useful resource to provide specific information to help organizations plan their business travel more effectively. This 1995 edition of Corporate Travel Index determines the average daily costs in terms of lodging, meals and car rentals in Taiwan's five main cities: Taipei. Hsinchu, Taichung, Tainan, and Kaohsiung. In addition, this study provides information on domestic and international airfares which were not included in 1993. The hotel rates were obtained from three sources: American Airlines SABRE reservation system, Hotel Taiwan 1994, and Taiwan Hotel and Restaurant Guide, 1994-1995. Food rates were gathered mainly from the latter publication. Car rental rates were collected by calling car rental firms using the 1995 Taiwan yellow pages. Domestic airfares were received by checking airlines' fare tables; international airfares were collected through the SABRE reservation system. Main departure cities were restricted to those departed from the U.S. and Canada. After current prices were determined, the difference between 1993 and 1995 was analyzed. In U.S. dollars, the 1995 CTI has estimated that the average total daily per diem in Taiwan is $222.16, which includes $104.86 for hotel, $39.46 for food, and $77.48 for car rental. In general, the average daily per diem declined by 4.11%, or $9.51, from 1993 to 1995. When viewed separately, figures reveal a 9.28% decline in hotel costs, 1.08% drop in meal costs, and 2.09% rise in car rental rates. This study also estimated that a round trip, business class air ticket from the U.S. or Canada to Taiwan is $2,160.15. An average domestic air ticket in Taiwan costs $45. Some factors contributed to the decrease in price changes. One of the main factors is the currency exchange rate that has devalued the Taiwan dollar. Taiwan's travel market has remained highly competitive during these past two years. Higher competition in the hotel industry, more business travelers drawn by Taiwan's booming economy, use of different survey size and sample, and promotions of the visa-free stay adopted by Taiwan's government are all important elements which explain the findings of the 1995 Corporate Travel Index in Taiwan.
Record URI: http://hdl.handle.net/1850/12323
Date: 1995

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