Corporate Travel Management Navigating Economic Volatility
Corporate travel management (TMC) companies such as BCD Travel are more crucial than ever as large corporations and small businesses alike battle today’s global economic woes.
A tightening of the belts is inevitable in Australia as more businesses begin assessing the impact of a falling dollar and inflation on their corporate travel arrangements, particularly for large groups and incentives.
In the US, corporations are cutting back on corporate travel where possible, and changing their internal rules for corporate travel, such as allowing business class for flights over 10 hours instead of six hours, according to Delta Air Lines’ senior vice president of global supplier relations, Rose Stratford, who was recently interviewed for BCD Travel’s global newsletter, In Motion.
Traditionally, as the dollar falls, Australian companies begin looking at domestic options for their corporate travel, incentives and conferences. Although this trend is yet to take hold, BCD Travel is already looking at ways to save its clients money on corporate travel and event management in today’s economic climate.
Australian companies have been enjoying a high Australian dollar for more than a year, and BCD Travel has recorded a spike in overseas corporate travel, conferences and events among its clients. BCD Travel now expects this trend to lessen somewhat over the next 12 months as companies increasingly factor in economic concerns in today’s global business environment.
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This entry was posted on Tuesday, October 28th, 2008 at 9:44 am and is filed under Corporate Travel. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
