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Business Travel News
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No Reset For 2009 Travel Budgets.
Publication:
Business Travel News
Publication Date: 08-DEC-08 |
Format: Online
Delivery: Immediate Online Access |
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Article Excerpt
All signs are pointing to a corporate travel budget hangover that will last well into 2009. Unlike in previous years, many companies won't reverse year-end cutbacks and recharge travel budgets, because they don't expect business to pick up in the first quarter.
The measures companies have taken in recent months to cut travel transactions, including aggressive pushes toward remote conferencing and meetings and travel reductions and freezes, are expected to continue.
"In the United States, there is no question it's going to take a little while. People aren't resetting their budgets in the first quarter to normal levels," said BCD Travel executive vice president of global business solutions, sales and marketing Louise Miller. "The days of having an annual budget and quarterly forecasts were pretty important, but I think we're down to monthly forecasts."
HRG CEO David Radcliffe following the company's half-year results for the period ending Sept. 30...
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