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Business travel costs still going up
It’s getting repetitive: yes, business travel costs will rise next year. But this study shows a positive side.
This time, the estimate is 6%, according to the American Express Global Business Travel Forecast.
The average cost of a domestic business trip — including airfare, lodging and car rental costs — will rise 6% in 2008 to $1,110. The average cost of an international business trip will rise nearly 7% to $3,171.
The projected increases in travel costs are likely to far outpace general inflation, which the National Association for Business Economics forecasts will be about 2.3% next year.
But on the positive side: 2008 is expected to see the smallest travel cost increases in at least four years.
Most companies say they aren’t planning to cut travel volume in 2008, according to the NBTA survey. But NBTA spokesman Caleb Tiller says more are planning to further tighten their travel policies to ban or limit travel in first or business class — 16% of respondents now, vs. 7% a year ago.
Mr Tiller says 43% of NBTA’s corporate members now say they work with discount carriers, about double the rate of four years ago.
Report by David Wilkening
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