During the Great Recession, most companies modified their executive travel policies. Eliminating business-class travel, flying at off hours to buy cheaper tickets, using online reviews and social media to find deals and avoiding activities that generate extra fees were just some of the changes implemented in an effort to save money. Now that the Great Recession has ended, many of these changes will likely be permanent.
According to Jim Glab of Executive Travel, a recent business travel survey sponsored by Embassy Suites Hotels reveals that 70 percent of business travelers are choosing to go with "safe options" that fall well within the cost parameters established by the company for which they work. This may not be good news for airlines, but the reality is that the economy is at best going through a tepid recovery and spending money on travel extras isn't the wisest use of resources.
If your company has not reduced its travel expenses yet, it's time to consider doing so, especially if you have a number of salespeople working for you who can easily generate thousands of dollars per month in travel expenses. The owner needs to set the example.
[Executive Travel]
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Business Travel Will Never Be the Same Again
Summary
Business travelers have permanently changed how they approach getting from A to B thanks to the Great Recession.
Published: April 08, 2013
Updated: October 02, 2024
