Just 13% of corporate travel managers will increase their spend in 2010, according to a survey by travel management company Egencia.
In a survey of more than 100 of Egencia’s clients conducted in September/October 2009, 55% said their budget would remain the same and 9% plan to reduce their spend.
The study also revealed that 42% of companies have slightly reduced their spend this year due to the current economic conditions. Some 17% have significantly reduced their budget, while 29% did not alter it at all.
A third of corporates are making changes to their travel programme more frequently because of the recession.
Meanwhile, Egencia’s Global Outlook and Negotiability Index suggested that short and long-haul travel for top European business destinations will rise slightly in 2010.
Growing business demand will begin to drive ‘front of cabin’ travel, especially in finance markets, and consolidation may drive air prices upwards. Hotels in business hubs will see room rates crawl upwards and hotels will benefit from more meetings and conferences, said the report.
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