CFOs are lightening up on meetings travel spend, finally.
The new American Express/CFO Research Global Business & Spending Monitor found that just 34 percent of 479 respondents will restrict travel for staff meetings this year. That number was 81 percent a year ago! Only 35 percent say they plan to restrict travel to conferences and events, compared to 79 percent in 2009.
The news regarding business travel unrelated to meetings was just as good: 57 percent said they would either maintain or increase spending and 26 percent of respondents said they plan to increase spending this year. (In 2009, only 2 percent of respondents said they would increase travel.)
An informal survey of& Incentives’ 2010 Changemakers (see the winners in our June issue) reflected this trend. “We are seeing a slight increase in travel for meetings and events if the proposed travel meets the business needs,” reported Jennifer Glynn, director, communications, Boston Scientific Neurovascular, Fremont, Calif. “We recognize the importance of face-to-face meetings with customers and have prioritized travel accordingly.”
Another meetings manager, who preferred to remain anonymous, cited an uptick in meetings travel of about 6 percent last quarter over same quarter last year.