Business travel looking up in 2004
Seventy-one percent of business travel managers report they expect business travel to rebound this year, and into 2005, according to a National Business Travel Association (NTBA) survey of 220 business travel managers.
While many seemed leery of predicting that business travel could reach 2000 heights this year, 54 percent did believe it might be possible.
Travel budgets, however, remain flat. Just less than half (48 percent) of travel managers reported increases in travel budgets, while 18 percent say their budgets have decreased. To get more for the money, the trend toward low-cost travel will continue. More than 60 percent of respondents report the use of mid-level hotel brands and no frills low cost airlines have become corporate policy.
“The economy and business travel are closely related, as one helps drive the other,” says Carol Devine, NBTA President and CEO, “While the challenges of the past few years taught us to be cautious, economic trends and travel indictors bode well for an increase in business travel – with the possibility of increases in volume at the end of the year and into 2005.”
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