Permanent Travel Reductions
The accepted wisdom is that business travel will rebound as soon as the economy does. But more than 80 percent of the frequent business travelers who completed a May 2002 survey said that, on average, 24 percent of their air travel reductions would be permanent. The survey was conducted by the Business Travel Coalition, a Radnor, Pa., organization seeking to influence policy on issues affecting business travelers. The 403 who responded to the survey expect to book an average of 38 roundtrip tickets in 2002. How much has corporate travel declined? BTC's respondents expect, on average, to cut air travel spending by about 10 percent through the end of the year. That's over and above cutbacks instituted before the May survey. Combining earlier research and the new information, BTC forecasts business travel at the end of 2002 to be 20 percent to 25 percent below peak 2000 levels. For more information, visit www.btctravelogue.com.
- Reed Allies with Lux Show
Reed Travel Exhibitions, which runs such trade shows as EIBTM and the AsiaPacific Incentives and Meetings Expo, has formed a partnership with another event it hopes will attract incentive travel buyers: International Luxury Travel Market. For more info on the inaugural event, December 10 to 12 in Cannes, France, visit www.iltm.net. Reed also recently acquired La Cumbre, a 13-year-old that sells and markets the United States to Latin America and the Caribbean.
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