ACTE Canadian Business Travel Outlook Predicts Up Swing in 2011
Travel spending in 2010 has so far performed better than initially predicted and Canadian corporate travel managers expect both travel volumes and expenses will further increase in the coming year, according to a study conducted by the Association of Corporate Travel Executives (ACTE) and The Conference Board of Canada.
Nearly half of the 56 organizations polled reported an increase in spending in 2010, particularly on domestic air travel and hotels. The vast majority of respondents to the 'Canadian Business Travel Outlook' survey - 89% - are anticipating the same or greater travel volumes in 2011.
According to the survey, business travel volumes in 2011 are expected to rise by close to 5% with travel expenses tracking closely behind. A higher volume of domestic trips was the most common reason cited for higher travel expenses, followed by rising airfares. While hotel and car rental rates are expected to see some gain, travel managers project increases to remain below 2%.
"We are feeling this renewed confidence across the industry," said Hailstone. "This is not only good news for the Canadian economy but the global economy as well."
Now in its fourth year, the Canadian Business Travel Outlook survey tracks business travel trends to provide a benchmarking tool for travel management professionals and the travel suppliers that serve them. Detailed results of the survey are available via ACTE Connect.
The Association of Corporate Travel Executives (ACTE), founded in 1988, is a leading non-profit organization that serves and advances the global business travel industry in 102 different countries. For more than 20 years, ACTE has continued to fulfill its vision of uniting travel executives around the world, providing them with up-to-date news, knowledge, beneficial research findings and networking opportunities. The education of ACTE members infiltrates to more than 12 million business travelers worldwide. From corporate buyers to agencies and suppliers, all sectors of the industry are granted equal membership. ACTE has representatives in Africa, Asia, Australia, Canada, Europe, Latin America, Mexico, Middle East and the United States. To join ACTE, or for more information, visit www.acte.org. Visit ACTE on Facebook and Twitter @ACTETWEETS.