The Economic Recession Diet for Business Travel
Jul 11
The Economic Recession Diet for Business Travel
Cutting travel program fat without compromising strategic objectives
The global economic downturn is hitting business travel where it hurts: According to a new survey by the Association of Corporate Travel Executives (ACTE), more than 70 percent of U.S. travel managers plan to spend less on corporate travel in 2009. The results represent a sharp shift from an earlier ACTE poll (Sept. 2008), which found that only 33 percent of U.S. travel managers were planning on cutting travel spend in the year to come.
While the ACTE survey may have focused on the U.S., the challenges faced by travel buyers and travel managers cut across all sectors of the globe. From reducing travel to tightening travel policy, and from renegotiating with suppliers to adjusting travel behavior, travel program stakeholders are intent on cutting trips and curbing expenses.
The silver lining to the financial storm clouds, says Kathy Jackson, executive vice