BUSINESS TRAVEL GOES UP, BUSINESS SPENDING GOES DOWN

Joe McClain - Jul 26, 2010
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Although the amount of people going on business trips and the amount of trips themselves are on the rise, the trend nowadays is to spend less. According to Orbitz for Business survey, this global trend is growing and the style of business travel is changing a lot.

 

It used to be the case that business travelers were loved all around the world: throwing around money that was not theirs and always going for the most expensive options merely to maintain a desired image. However, times have changed and the taboo behind sitting in economy class with a suit and tie has disappeared. Tougher schedules have led to business people returning earlier than before from trips and the economic climate has led to companies saving every cent they can, sometimes even offering their employees a financial incentive to do this.

An Orbitz survey of 850 travelers revealed a lot about the changes in the habits of business people. Indeed, 70% claimed that saving money was at the forefront of their interests and most of these people claimed that they were financially motivated to do so. If the employee saves and the company saves, then the hotels and restaurants clearly lose out. Business travel has increased since 2008 yet with the new trends and behavioral patterns, it means very little.

Apart from cutting back on hotel stays and flight tickets, many business people have been using their own cars to get about. This is a huge saver and companies were clearly getting tired of paying hire fees and insurance. Another important factor is that business people tend to book their own trips nowadays; in fact 91% claimed that this was the case. This means that they are directly responsible for saving money, which is reflected in their behavior.

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