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Corporations Spending Less on Business Travel in 2009

Posted on September 24, 2008 by LCT Staff - Also by this author - About the author

MIAMI – The Association of Corporate Travel Executives found 33% of corporations will be spending less on business travel in 2009, 31% will spend the same amount, and 36% will spend more. The No. 1 reason for the cutbacks in travel spending, according to 47% of the respondents, is a combination of economic uncertainty and rising fuel costs.

Twenty-six percent cited other reasons, such as internal changes and a restructuring of business focus.

“Equally significant is the manner in which corporate travel managers are directing the cutbacks,” ACTE Executive Director Susan Gurley said.

Thirty-one percent are cutting back on travel across the board. Thirty-nine percent are cutting back on internal meetings, while 16% are reducing international travel. Nine percent have eliminated training trips as part of their agenda. An additional 14% cited “other means.”

Source: South Florida Business Journal

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