Amex: Corporate Travel Spending to Remain Stable
by Michael J. ShapiroDecember 12, 2012
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Corporate spending on business travel should remain stable in 2013, according to an American Express survey of 200 U.S.-based corporate financial officers. Sixty-one percent of the respondents said they anticipate spending the same or more on business travel next year. Nearly two-thirds (64 percent) do not anticipate travel policies will loosen in the coming year, indicating that any additional travel investment will be closely watched. The most common reasons given for travel investment were building new business (37 percent) and retaining current business (35 percent). However, trepidation surrounding the fiscal cliff is evident in the survey: While about half (52 percent) of the executives surveyed said they think the politicians will not be able to come to a fiscal agreement in time, 79 percent of them said they expect a direct impact on their companies' bottom lines should the U.S. go over the cliff. Despite those fears, three-quarters anticipate revenue growth for their companies in 2013, and 69 percent said they expect increased profits.