Amex report outlines age of austerity
Travelling executives are taking responsibility for cutting their travel costs, according to a new report from American Express.
Its September survey of 526 UK business executives from mid-sized companies found 62% are motivated to cut their own business travel expenses as a result of the travel habits of their peers.
The survey also found:
46% say their bosses practice what they preach when it comes to cutting business travel costs. Examples include bosses downgrading flights from business class, taking the train rather than flying, and even publishing their expenses to employees.
45% firms have asked staff for their ideas on how they could save business travel costs and improve efficiencies.
78% of staff are more conscious of their own business travel costs than before the recession
54% are still travelling the same amount as in the boom times (2002 – 2007), while 4% are now travelling more
31% are using public transport, 25% flights are using premium economy and 18% are using high speed rail to keep on the road while keeping down
33% believe the tightened ‘age of austerity’ of business travel policies believe it will be for the next two years
24% believe the measures now in place will continue to be the blueprint for the future
12% of respondents believe the age of austerity business travel policies will come to an end in a year and 19% see it continuing for three years.
“Many UK employees and employers are clearly working together to achieve return on investment for their travel, and have developed a much more frugal mindset to help them through the downturn,” said Michael Rouse, vice president and general manager, head of client acquisitions American Express Business Travel EMEA.
Respondents included managing directors, financial decision makers, business travellers, procurement teams and business travel bookers.
by Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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