November 25, 2008

Nov. 12: Results from the National Business Travel Association's 2009 Business Travel Overview and Cost Forecast predict increases in business travel costs and slower than usual travel-industry growth. The study shows travel managers expect business travel costs to rise 5 to 8 percent next year. Still, the number of business trips will continue to rise but at a slower pace than the growth seen in recent years. "Across the board, we can expect to see some changes in the way travel is managed to further maximize value," said NBTA president and CEO Kevin Maguire, CCTE. NBTA's research predicts travel managers will continue their cost-containment strategies through a number of measures, such as reducing nonessential travel, enforcing new travel policy mandates, and implementing spending and reporting tools.