Business travelers can expect increases in travel costs and slower than usual growth for the travel industry in 2009, according to the National Business Travel Association’s (NBTA) 2009 Business Travel Overview & Cost Forecast.
According to the study, travel managers project an increase of 5 percent to 8 percent for business travel costs in 2009. Additionally, the number of business trips will continue to increase, but at a much slower pace than the annual growth from 2004 through 2007.
“In some companies, we are already seeing major cutbacks in travel, while other companies have higher travel budgets in place for 2009,” said Kevin Maguire, president and CEO at NBTA. “Across the board, we can expect to see some changes in the way travel is managed to further maximize value.”
