Business travel budgets face cutbacks
Monday, 09 Feb, 2009
0
Business travel budgets are being slashed with more than a third of buyers (38%) saying they have less to spend this year.
A poll of 170 business travel buyers commissioned by this week’s Business Travel Show in London also revealed that nearly two thirds (65%) are actively searching out cheaper air travel.
Two fifths (41%) are downgrading accommodation for travellers and 18% are swapping taxis for the Underground in London.
And 65% believe that there is another 12-24 months of recession ahead.
However, one fifth (21%) of buyers say the economic downturn will not affect the number of trips they buy and two per cent even claim they will be booking more travel.
When asked if the pressure to be environmentally friendly would impact on their business travel plans, just under half (49%) said no, proving that in many instances there really is no substitute to face to face meetings.
Business Travel Show event director David Chapple said: “I’m not surprised that the credit crunch is affecting business travel buyers.
“It certainly explains why their focus this year, more than ever before, is on getting the best value possible out of their budget. They need to re-evaluate suppliers, push for more from existing ones and put contracts out to tender.”
by Phil Davies
Phil Davies
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...
Phocuswright reveals the world's largest travel markets in volume in 2025
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
In Italy, the Meloni government congratulates itself for its tourism achievements
Singapore to forbid entry to undesirable travelers with new no-boarding directive