More NewsACTE 2009 Business Travel Spend Survey Predicts Tighter Purse Strings

ACTE 2009 Business Travel Spend Survey Predicts Tighter Purse Strings

Tighter purse strings and reduced spending in 2009 are the conclusions of a business travel spend survey conducted by the Association of Corporate Travel Executives (ACTE). 131 respondents to an association survey are in a nearly three-way dead heat as to how their corporations will fund business travel in 2009; two of the response categories clearly indicate ‘less spending’ and ‘less frequent travel’. Thirty-six per cent said they’d be spending more on business travel next year, while 33% indicated they’d be spending less, and 31% said they’d be spending the same.?The number one cause of the cutbacks in travel spending, according to 47% of respondents, is a combination of economic uncertainty and rising fuel costs. (15% cited the economy alone as did 12% for fuel costs.) Twenty-six per cent cited other reasons such as internal changes and a restructuring of business focus.

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