Travel's Value, Clarified.
Cost is a poor signal of travel's value. We've found a far better signal — one you can use right now.
Most travel programs can tell you what a trip will cost. Few can tell you what it is worth.
No surprise, then, that 24% of business trips are low-value. They get approved because their cost is low and their value is opaque.
tClara bridges the gap between travel cost and travel's real value. Decision-makers gain clarity by using risk-adjusted valuation metrics for each trip, including Net Expected Value, ROI, and the trip's credit score.
Only when travel's value is clarified can you optimize travel's spend. That elusive goal is now achievable.
Clarifying Travel's Value
Four decisions disciplined travel approvers must make — and the thinking to guide them.
Virtual works adequately for many meetings. But how big is the gap between adequate and optimal for any given meeting? The mode decision should weigh the meeting's importance against the friction of meeting in person — not default to either one.
- Across 26 meeting goals, 43% of leaders rate in-person as the better mode, 35% say virtual, and 22% say mode barely matters — the decision is genuinely goal-dependent, not a fixed rule.
- In-person is the preferred mode for 22 of 26 goals — especially building trust and teamwork, persuading or selling, and solving important problems.
- Virtual is preferred for goals like gathering diverse opinions, sharing updates, and using people's time efficiently.
- Virtual meetings are seen as nearly twice as likely to produce a negative outcome as in-person meetings (47% vs. 25%) — convenience carries real risk.
- 70% of leaders say a deliberate blend of virtual and in-person work allows them to do their best work; C-suite respondents value in-person meetings more than other leaders do (53% vs. 41%).
Travel friction — the wear and tear from business travel — is a hidden and often high cost, one rarely factored into most travel decisions. Low-cost travel policies often cause it, eroding the intended value of every trip.
- Road warriors rate only 63% of their trips as mostly or very worthwhile — more than a third of travel spend isn't landing.
- Cost-focused travel policies nearly double attrition risk versus traveler-focused policies (33% vs. 17%), and produce fewer worthwhile trips (57% vs. 66%).
- Cost savings account for roughly 1% of the economic value road warriors generate — the leverage is in trip success and retention, not fare price.
- 48% of road warriors say they want to travel much less in two years; the two biggest levers to change that are better sleep and business-class seating on flights over six hours.
- A quarter of road warriors are significantly affected by jet lag — that group reports 20% fewer worthwhile trips and 14% higher attrition risk than less-affected peers.
Bigger seats and better cabins are stigmatized in most travel programs — their carbon footprints look too big, the logic goes. Judged by carbon intensity (CO2 kg per $) rather than carbon per ticket, the cost/friction/carbon equation changes. Three sources ground this argument.
- High-carbon-intensity fares are common — roughly a third of airfare spend, and over half the emissions, in a study of 100,000+ business tickets.
- Carbon-intensity-aware booking policies and tools could have cut emissions in this dataset by an estimated 12–28%.
- Low-intensity policies trade modestly higher fares for materially lower total emissions and fewer trips — not a ban on travel.
- 20–33% of business trips are low-value or could safely be replaced by a virtual meeting, by executives' own estimate.
- About 80% agreed their companies should build a culture that challenges the need to travel — most travel budgets aren't aligned with strategic goals.
- Over half said travelers don't factor a flight's carbon footprint into their own booking choices.
- "Carbon-acceptable airfares" — priced to keep a trip's CO2-to-cost ratio in check — are the proposed lever for cutting low-value trips and emissions together.
- Introduces a carbon-intensity ratio — CO2 kg per dollar spent — as the cap travelers manage to, instead of emissions per ticket alone.
- A higher class of service can carry a lower carbon intensity than economy once price is weighed against emissions, not just seat count.
- The budget is "invisible" because staying within the normal travel budget and the company's intensity cap automatically keeps a traveler within it — no separate carbon tracking required.
Most trips are never quantified beyond cost. Willingness to pay is the strongest, most reliable signal of value — the key to building the risk-adjusted expected value for any trip.
- 24% of business trips are low-value — and that 24% of spend produces only 7% of total Net Expected Value.
- The highest-ROI trips (over 400% expected return) account for just 18% of total cost but generate 69% of total Net Expected Value.
- Low-value trips can be predicted before travel with roughly 75% accuracy, using a pre-trip justification score.
- 65% of trips that turn out low-value were already flagged as poorly justified before the trip — the signal exists pre-trip, if anyone asks the question.
- Reallocating spend from low-value to moderate- and high-value trips would lift a travel budget's total Net Expected Value by 26%, without spending a dollar more.
A trip's Expected Value-Add (EVA) — the gap between its "Red Line" cost limit and its actual expected cost — can be calculated for any business trip before it is taken.
- The "Red Line" cost limit is the highest amount a rational, well-informed manager would approve, given what the trip is worth; two numbers (Red Line and expected cost) are all that's needed to find a trip's EVA.
- The value of meeting in person versus virtually is theoretically required for full ROI, but in practice it's unknowable and unnecessary — EVA can be found without it.
- EVA is a better screening metric than ROI percentage: a trip can show a high ROI yet still carry so little absolute value-add that it shouldn't be approved — EVA flags those trips directly.
- A non-negative EVA means the trip meets or exceeds the CFO's expected return on travel spend, embedding the organization's hurdle rate directly into the go/no-go decision.
- Travel budgets can be truly optimized by approving the mix of trips that maximizes total EVA, within budget, travel risk, and carbon emissions constraints — and TripTester does this in two minutes.
Optimizing Travel's Spend
Travel's value can now be clarified — which means Finance can finally pursue the goal of optimizing travel spend.
Travel optimization requires a maximization goal. Net Expected Value and ROI are the most likely candidates. Linking each trip to its key business goal will reveal which budgets deserve larger or smaller allocations.
Constraints will typically include remaining budget, a carbon emissions cap or intensity limit (CO2 kg per $), and travel risk limits covering traveler health, safety, and well-being. Most companies will also set floors on a trip's credit score and maximum justifiable cost to screen out low-value travel.
Opens on TripTester.com — a live example of pre-trip valuation at scale
Large companies can apply classic linear optimization; smaller ones can enforce per-trip criteria and get the same result.
Clearly, travel optimization requires pre-trip assessments — TripTester being the ready example — and integration with booking tools. The workflow shifts to "approve, then book," replacing the costlier "shop, then approve, then book" sequence. The path to genuinely optimized travel spend is now open.
TripTester
- Designed for Finance. Built to eliminate low-value travel.
- Delivers pre-trip assessments that show the trip's risk-adjusted expected value, ROI, credit score, and approval rating.
- Ties travel cost and value to business goals — the key to travel spend optimization.
Request early access and score your first few trips on us.
Go to TripTesterNudging the Travel Industry Forward
tClara is the home for Scott Gillespie's work on business travel. Chicago Booth MBA, ex-Kearney, and founder of Travel Analytics, he has advised roughly a third of the Fortune 500, all major North American airlines, and the U.S. Government. His paradigm-shaping papers and the TripTester valuation tool underpin the thinking shown here. A keynote speaker at travel conferences in 20 countries, Scott's aim is clear: to nudge the travel industry forward.
Next Keynote — More AI, Less Trust, and Travel's New Value Equation
Aug 4, 2026 · Global Business Travel Association, Chicago