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9 percent jump in corporate travel costs forecasted
Sunday, 20 Oct, 2005
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The National Business Travel Association’s 2006 forecast predicts corporate travel costs should jump 9 percent.
Hotel rates will increase 9 percent next year, while corporate airfares are expected to increase 6 percent, with car rentals to increase 5 percent.
Of the 130 travel manager respondents, NBTA said that about 4 percent said they will cut back on air travel next year, while 50 percent said 2006 will see increases in travel.
To control costs, 93% respondents reported their company to continue shifting the use mid-price properties.
The 5% car rental cost increase is attributed to higher fuel costs, increased pricing pressure from auto manufacturers and the increases in local taxes.
Charles Kao
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