Industry Research

CFOs Easing Travel-Spending Reins, Says Amex Survey

Posted on May 12, 2010 by LCT Staff - Also by this author - About the author

Business Travel News reports some encouraging developments about a partial business travel upswing, which can only be good for chauffeured transportation operators.

BTN: Chief financial officers are seeing their companies beginning to loosen limits on travel spending, but restrictions for internal meetings largely remain in place, according to an American Express cosponsored survey of 479 financial executives that was released today.

The 2010 CFO Research/American Express Global Business and Spending Monitor, fielded in February, shows that 26 percent of respondents plan to increase business travel spending this year, part of 57 percent overall who will either maintain or increase such spending. In the 2009 survey, only 2 percent of respondents expected an increase in travel spending.

"Overall, we're seeing some positive signs of stabilization and growing optimism about recovery," said Wendy Prewitt, vice president in American Express' global commercial card sector. "Companies are really balancing that with some of the policies, controls and disciplines they put into place over the prior year."

Prewitt said survey results indicated most travel spending increases are restricted to travel that generates top-line growth. Only 14 percent of the finance executives said they would loosen travel policies for staff meetings this year.

Even so, only 34 percent plan to implement further internal travel restrictions this year, compared with 81 percent in 2009. Similarly, 35 percent said they would restrict travel to conferences and events, compared with 79 percent in 2009.

REST OF BIZ TRAVEL SPENDING ARTICLE HERE

Source: Business Travel News

View comments or post a comment on this story. (0 Comments)

More News

5 Ways To Sell Into The Luxury Travel Market

It’s not your father’s high-end market any more. These lessons apply to chauffeured transportation as well.

Trump Travel Ban Could Deter Business-Related Trips

Tech firms and multinational corporations have lashed out at the move, and some recalled employees traveling overseas.

Half Of Companies Allow TNC Use For Business Travel

A GBTA survey finds an increasing number of traveling employees using companies like Uber and Lyft.

Study Shows Jobs Rose In Taxi Industry Despite Uber

The authors believe this is the first serious look at the effects of the gig economy platforms such as Uber on jobs.

What Trump Means For Fleet-Based Businesses

Fleet expert: "If Trump eventually rolls back regulations in the automotive sector, he would likely stimulate growth."

See More News

Facebook Comments ()

Comments (0)

Post a Comment

Submit

Blog

See More

LCT Store

LCT Magazine - March 2017 $12.95 INT'L LCT SHOW ISSUE COVER STORY: * Innovate or Die: Show To Be a Business "Disrupter" * *



Connect

Experience the three annual industry events for networking for business, showcasing vehicles and products, and getting the tools for success.

Read About Your Region

What’s Happening Near You?
Click on any state to see the latest industry news and events in that region.

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Metro Magazine

Serving the bus and passenger rail industries for more than a century

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

Please sign in or register to .    Close