Most corporate travel buyers expect their company's travel spending to increase or stay the same next year compared with 2009, according to a survey conducted in late July and early August by Topaz International.
Of 260 travel buyers surveyed, 49 percent said their companies would spend more on business travel in 2010, while 41 percent expect spending next year to be about the same as in 2009, leaving only about 10 percent that expect spending to dwindle further next year.
The findings jibe with a growing sentiment inside and outside of the corporate travel industry that the recession's bottom has been reached. Airlines last month during second-quarter earnings calls said that although business traffic and revenue lagged significantly behind where they were a year ago, both began to build as the quarter wore on. Still, carriers are bracing to see what the fall shoulder season will bring, as much of the recent gains in traffic have been on the backs of leisure travelers.
According to the Topaz survey, about 28 percent of corporate travel buyer respondents expected business travel spend for "the balance of 2009" to increase, as 35 percent expected to remain steady and 37 percent expect further declines.Source: Business Travel News