21 October 2008

KDS survey finds corporates expect travel cuts

Over half of corporate clients believe they will be forced to cut travel between today and March 2009 due to the credit crunch.

According to a survey by travel and expense management company, KDS, 54% said they would have to curb their travel spend.

Some 36% said they have had to cancel booked travels, 33% had to cancel international meetings, while one financial director said since the crisis no trips under two days are authorised in his company.

"The financial crisis is putting procurement and financial department under pressure," explains Stanislas Berteloot marketing sirector of KDS.

"Costs must go down. Then cutting travel costs is relatively simple and has an immediate impact on the bottom line."

The survey panel was comprised of 47% travel managers, 20% procurement directors and 20% financial directors. All work in organisations with 5000 plus employees.

The majority of respondents were based in continental Europe (73%), while 8% are in the US and 19% in the rest of the world.

By Bev Fearis

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