American Express Global Business Travel benefitted from “record” retention rates and increased spending among its larger clients in 2024, while transactions by SMEs remained “muted”, the travel management company reported.
Total transactions from global multinational companies increased 8 per cent year-over-year in 2024, while transaction growth among small and midsized companies increased just 2 per cent, “reflecting tighter spending controls driven by higher prices and lower macro-economic growth,” Amex GBT CEO Paul Abbott said during an earnings call on Thursday (27 February).
“SME transaction growth has been muted but stable for several quarters,” Abbott said, but maintained that this customer segment “remains…
























