€300,000+
88% of intermediaries spend over €300K on FX costs a year
Travel intermediaries and FX
400 senior leaders reveal how they manage FX alongside supplier payments, how much it’s costing them, and what their biggest challenges are.
Operational efficiency
FX is managed separately from payments, adding complexity and cost
Most intermediaries have some level of integration, but the majority still need to manually intervene. This creates additional costs that are not easily captured.
As businesses grow, operational inefficiencies compound: larger businesses are more likely to view FX cost management, cash flow, and working capital as a challenge.
Accuracy and control
Intermediaries lack transparency on how much FX is costing them
Much of the cost never arrives as a fee: the spread sits inside the exchange rate, and some providers quote a single all-in rate that doesn’t separate the base rate from the mark-up.
Many businesses are likely underestimating their FX cost: the minority that are fully integrated track their costs more accurately and report a bigger number.
Scalability
Complexity grows as businesses scale
Adding new markets means adding new currencies, but most strategies only cover the majors. Where cover runs out, intermediaries absorb the extra cost.
Businesses whose strategies don't stretch beyond the dollar, euro, or pound are the least likely to accurately track their cost, eroding margin and limiting the amount of capital that could be invested in growth.
