Study Shows Financial Execs Still Willing To Spend For Client Travel | btnonline.com

While the vast majority of senior financial executives foresee continuing cuts in business travel budgets, they still plan to invest in revenue-generating travel for their companies, according to a survey of 285 senior finance executives worldwide released today by American Express and CFO Research Services. The survey reported that 87 percent of the executives said their companies would spend less on business travel this year compared with last year, and 44 percent said their travel budgets would decrease by 10 percent or more. Few said the travel cuts would be across the board, however. About two-thirds of the executives said they would maintain or increase levels of travel for meetings with existing clients, and even more—82 percent—said they would maintain or increase travel for the purpose of winning new clients or business development.