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.