DUBAI — A global survey has found that the annual spending on corporate cards for travel and entertainment (T&E) expenses has increased worldwide by more than 20 per cent from 2005 to 2006.

The survey, titled “Global Commercial Payment Cards: Cutting Costs and Boosting Control on a Global Stage”, has also revealed that companies across the world were primarily implementing purchasing card programmes for cost-savings and increased financial control, but the goals and growth drivers for programmes differed from region to region.

Commenting on the findings of the survey, Kamran Siddiqi, general manager for Visa International in the Middle East said: “The increase in global spending on corporate cards, according to the global study, is a testament to the enhanced transparency and cost-savings which corporates can benefit from. Across the world, organisations use corporate cards to manage expenses and for procurement purposes. The Middle East is gradually realising these benefits.”

Siddiqi added: “The pace at which the region is developing is giving rise to increased commercial activity. Business-related travel and procurement for organisations is increasing and in turn is creating the need to manage business expenditure more efficiently and transparently.”

The Global Commercial Payment Cards survey, underwritten by Visa and ACTE Global, the association of corporate travel executives, and conducted by analyst firm Aberdeen Group, explores the practices and strategies around the use of commercial payment programs, specifically around corporate cards.