AmEx: Most travel spending categories fully recovered
The TMC reported particularly strong travel spending among all its customer types in Q4
Total T&E spending on American Express products in the fourth quarter was $25 billion, up 44% year over year and down 9% compared with 2019.
Key takeaways
- T&E spending by large U.S. and global corporates was up 86% year over year but remained at two-thirds of pre-pandemic levels;
- In terms of total T&E spending by category, only spending on airlines was below 2019 levels in Q4.
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