Budgets for business travel slashed

Hotel News - 09/02/2009

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In a recent poll that was commissioned by the upcoming Business Travel Show in London, and in which 170 corporate travel buyers participated, it was also learned that around two-thirds are looking to buy cheaper air travel.

Slightly more than two-fifths of the respondents indicated they were choosing less expensive accommodation; and just under one-fifth said that their travellers were now taking the Underground in London rather than taxis.

Around two-thirds believe that the recession will continue for 12-24 months.

One-fifth of the buyers reported that the current economic conditions would not have an impact on the number of trips they bought; and a small number noted that they would be booking more travel this year.

When they were asked if pressure to be more environmentally responsible would affect their buying habits, approximately one-half said it would not, which indicates that face-to-face meetings have not been replaced by videoconferences in many cases.

David Chapple, the Business Travel Show event director, said: ā€œIā€™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.ā€

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