Businessmen using company credit cards prefer Starbucks Corporation (NASDAQ:SBUX) and McDonald’s Corporation (NYSE:MCD) for a quick bite and coffee, according to a recent survey from expense management firm Certify.
Employees armed with corporate cards visit Starbucks far more than any other restaurant, with 5 percent of all business spending done there, and an average purchase of $9.51. McDonald’s comes in second, at almost 3 percent of all food and drink spending, MarketWatch said Tuesday.
Subway and Panera Bread Co (NASDAQ:PNRA) come next on the list, at 1.8 percent and 1.5 percent, respectively. Pricey outlets like steak and seafood joints didn’t feature as the most popular destinations in the survey, which also specified regional favorites.
The results are explained by “traveling employees being on the go, and in most cases traveling solo and looking for a quick and convenient place to eat,” said Certify CEO Robert Neveu to MarketWatch.
U.S. companies spent $225 billion sending their workers on business trips in 2012, according to a report from the U.S. Travel Association, with average business trip budgets on the rise for the past four years.
Nat Rudarakanchana covers commodities and companies for the International Business Times. He is especially interested in precious metals, the food and drink industry, and...