6 Tips to Save Big During Business Travel Abroad

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rwferergeWhether your company is sending you abroad to close a deal or meet with colleagues, a trip of this nature can be (very) expensive. But sometimes, there’s just no way around it and the juice may be worth the squeeze.

Here are six tips to help you save money on your next international business trip:

A Card that Pays

Many times, your current credit card won’t be your ideal option when traveling abroad due to fees on international purchases. Doing some credit card comparison well before you leave can help you to avoid foreign transaction fees.

Cards that reward you for your miles are a great option when taking long-distance flights. You may also consider prepaid travel or debit cards.

Consider Your Cash

Currency is key, wherever you’re traveling. Many folks exchange their currency last minute at the Bureau de Change, but experts say this is definitely not your best bet. While the zero commission offer is enticing, you end up paying more in the long run thanks to reduced exchange rates compared to what you could get someplace else. Instead, maximize your exchange rate by using a currency aggregator or by placing a currency order on the internet and having it delivered to your house before you depart.

Take it Down a Notch

Sure, everyone enjoys flying business class and staying at high-end hotels. But when it comes to stretching a dollar during international business travel, these luxuries are just that: luxuries, not necessities. Swallowing your pride and downgrading to coach (and using an economy airline), as well as being open to staying in affordable hotels or rentals like those offered on Airbnb let you stay in your destination for a fraction of the cost of a ritzy hotel.

Choose Your Phone Wisely

Your phone and cell phone plan can make a big difference when it comes to pinching pennies during international travel. When you choose a smartphone on the T-Mobile network, like the LG V20, you get the freedom to text in-flight and internationally without the unwanted fees (a must for international business travelers). Further the LG V20 offers crisp and clear photo and video capabilities, high-quality sound and 65GB of memory to ensure your data is its best and safest.

Travel on a Dime

Forget the fancy car rental and consider using public transportation, taxi or Uber services or even a shuttle bus when traveling. Unless you plan on spending the vast majority of your time driving while abroad, there’s simply no need to pay a load of money for a vehicle that is going to be parked most of the time anyway.

Rethink the Trip

And finally, when you or your company are really in a financial bind, simply don’t go on the trip. Rethinking how your meetings and tasks that were to be done on the trip can be achieved — perhaps via phone, teleconference, Skype or FaceTime — can save thousands of dollars and hours of your precious time. When a trip isn’t crucially necessary, this avenue is the best bang for your buck. Researching video and web conferencing technology for your company ahead of time is a good idea, especially if you foresee the need to communicate with folks internationally on more than one occasion in the future. In the end, this technology could end up saving you thousands of dollars.

Published by Kidal Delonix (756 Posts)

Kidal Delonix is a contributor to Mr. Hoffman's blog. The views and opinions are entirely his/her own and may not reflect Mr Hoffman's views.

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