22 October 2009

Outlook for business travel next year: tight

The National Business Travel Association (NBTA) provided members with its 2010 Business Travel Buyers Cost Forecast, which predicted:
 

ï~~¶ Average airfares for 2009 were $299, which are expected to up as high as three percent next year.
 

ï~~¶ Average hotel rates of $136 for 2009 are expected to decline from -2 to -9 percent next year.
 

ï~~¶ Average car rental rates of $46 this year should drop by -1 to -3 percent.
 

"With air travel and car rental costs expected to remain nearly flat and hotel rates expected to decline, businesses expect to travel more," the study found, adding:
 

"That growth in travel is expected to lead to increases in travel expenditures."
 

The survey also found that nearly seven in ten travel managers responding to an NBTA survey expect business travel volume to grow in 2010. And more than half projected their travel spend to increase while almost one-third saw spending remaining flat.
 

Travel and meetings buyers also expect to see an easing of travel and meeting reductions in 2010.
 

By David Wilkening
 

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