The National Business Travel Association (NBTA) released a report that found nearly 85 percent of firms surveyed decreasing their travel spending since October 2008. More than 70 percent of 119 corporate managers surveyed in March expected continued decreases through 2009. According to the NBTA report, the top five travel management initiatives to cut costs are: overall travel & entertainment budget cuts; encouraging or requiring less air travel; sending fewer employees to events; emphasizing advance purchase of air tickets and strengthening travel policy mandates and enforcement of travel policies.
“This report shows that during a recession, an efficient travel management program is key to saving money while still keeping travelers on the road to help bolster revenue,” said Kevin Maguire, NBTA’s president and CEO.
The report also revealed a confidence in travel management, as 63 percent of respondents said feelt secure in their current positions. While half of those respondents believed their companies value their positions more than ever in a cost cutting economy, nearly 20 percent reported reduced travel staff in recent months.
