|BUSINESS TRAVELERS EMBRACE THE SHARING ECONOMY|
Aruba, July 21, 2015 - Rick Swope not only uses Uber regularly, but he encourages all 12 employees at his Florida engineering company to do so.
"In my mind if you do not use a service such as Uber, you need serious help," he says.
Taxis and rental cars are quickly falling out of favor with business travelers, who are increasingly turning to the sharing economy to produce what they believe will be more reasonable expense reports. Even Airbnb, the home-sharing service, is becoming a popular alternative among business travelers, according to a report released last week.
An analysis of millions of receipts by Certify, which helps companies manage expense reports, found that on-demand ride service Uber has overtaken taxis as the preferred way to get around among road warriors on business.
From the second quarter of last year to the second quarter of this year, Uber's percentage of transportation receipts grew from 8% to 31%. At the same time, the market share of taxis declined from 37% to 24%. Rental car use also decreased from 55% to 45% of receipts.