Business Trip, or Just a Junket? It Matters Lately
What’s the difference between a business event and a party? That may sound like a setup for a joke, but for Corporate America, it is a serious question without a clear answer. Many companies are pulling back on management retreats, junkets for top clients and getaways to reward top producers. And this new austerity is likely to mean new pain for yet another part of the economy: the hotels, resorts, restaurants and event planners that cater to these events, which one trade association has estimated generate $244 million in annual spending and account for 2.4 million jobs.