NBTA's New Research Shows Companies Being More Creative in Getting Employees in Front of Customers, Clients as Economy Weakens
New Research Examines the Impact of Economic Downturn on Business Travel
Highlights from the research findings include:
- More than 50 percent of travel managers say new airline fees are having an impact on their planning and they areencouraging less air travel and eliminating all non-essential corporate travel.
- 76 percent of survey respondentsbelieve that airlines are in fact misleading the publicwith their"low"and"advertised"fares by adding substantial fees.
- 83 percent of respondents indicate that re-introduction by airlines of minimum stay requirements--such as Saturday-night-stay--will increase business travel airfares.A significant percentage of travel managers encourage travelers to consider staying over a Saturday night if the difference in airfares is greater than the hotel and meal costs.
- Travel managers arepromoting travel methods like ride-sharing, using public transportation, and suggesting alternativeslike Internet-based meetings for business dealings.
- Respondents indicatedomestic trips now cost $140 - $175 morethan at the end of 2007.
International business travel
costs have increased $315 - $400per trip since December of last year.
NBTA's research, Maguire said, is a tool for travel managers to help modify corporate travel programs and policies while also shedding additional light on how factors such as ticketing restrictions and increases in travel pricing relate to corporate budgeting.
NBTA Executive Director and COO Bill Connors, CTC, added,"As we approach 2009 with a sober economic outlook, NBTA is doing its part to help business travel consumers understand the importance of streamlining travel needs and implementing clear cost-cutting techniques. Businesses that strategically manage their travel during these challenging times will be better positioned for success."
NBTA conducted two surveys over a four-month period in 2008. For more information or a copy of the full report, please visit http://www.nbta.org/Research/Surveys.
1. Emphasizing advance purchase of air tickets2. Encouraging or requiring less air travel3. Sending fewer employees to conferences4. Strengthening mandates/enforcement of travel policies5. Driving people to travel alternatives (e.g. web-based meetings)
1. Refueling before returning car rental2. Sharing ground transportation costs with other employees3. Moving to smaller, less expensive car rentals4. Renting more fuel efficient cars (non-hybrids)5. Using more public transportation when traveling
The National Business Travel Association(NBTA) is the world's premier business travel and corporate meetings organization. NBTA and its regional affiliates--NBTA Asia Pacific, NBTA Canada, NBTA Mexico, and NBTA USA--serve a network of more than 15,000 business travel professionals around the globe with industry-leading events, networking, education & professional development, research, news & information, and advocacy. NBTA members, numbering more than 4,000 in 30 nations, are corporate and government travel and meetings managers, as well as travel service providers. They collectively manage and direct more than US$200 billion of global business travel and meetings expenditures annually on behalf of more than 10 million business travelers within their organizations. For more information, visit www.nbta.org.
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