Skip navigation

Current DateTime: 06:15:24 11 Nov 2009
LinksList Documentid: 24355697
Travel managers make emergency cutbacks
By: The Associated Press | 20 Oct 2008 | 11:25 AM ET
Text Size
1 in 4 react to the financial situation by tightening belts, survey shows

MINNEAPOLIS - One-quarter of travel managers have made emergency spending cutbacks because of the financial crisis, according to a new survey released on Monday.

The Business Travel Coalition asked 196 travel managers in 14 countries about how they and their companies are reacting to the financial situation. BTC conducted the survey from Wednesday through Friday. Nearly three-fourths of the respondents were in the U.S.

Of those with emergency travel cutbacks, 68 percent said they would keep them in place until further notice.

Other findings:

  • 34 percent said their company cut back this year on the use of major network carriers in favor of discount airlines.
  • 34 percent said the cutbacks have taken the form of a travel freeze.
  • Half said their companies are planning to spend more in 2009 on technology such as video conferencing as a substitute for air travel.

Travel managers said they were making changes such as requiring approval from higher-than-usual ranking executives for international travel, requiring 7-day advance purchases, or encouraging day trips instead of overnight stays.

BTC said its previous surveys showed corporations cutting back on air travel at the beginning of the year, with broad-based travel reductions apparent by midyear.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Tools:
Print EmailAdd This share icon
  • digg share

CNBC HIGHLIGHTS

  • Bernard Madoff's Baseball Jacket
  • Bernard and Ruth Madoff's personal possessions will be auctioned this weekend. Click ahead to see.
  • If you are lucky enough to have money and the time, this is a great time to see America, says CNBC's Jane Wells.
  • What’s powering your microwave, fridge and computer? Part of it is fuel from Russian nuclear weapons. The NYT reports.
  • How the Lord’s Prayer would read if Goldman Sachs’ Lloyd Blankfein were substituted for you-know-who.
  • With 123 years of history, slogans and commercials, Coca-Cola is the most recognized brand on earth.
  • The opening of a virtual pet store in “World of Warcraft” could prove a cash bonanza for Activision-Blizzard.
ADD COMMENTS
Remaining characters


Current DateTime: 05:24:48 11 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 01:01:49 11 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 02:13:25 11 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 01:01:49 11 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters