TAMPA The Association of Corporate Travel Executives (ACTE) reported results of a survey on the effect of the economic slowdown on business travel, which was conducted during ACTE s Global Spring 2001 Conference.
The survey determined that 43% of corporate attendees responded that their companies had made a decision to cut back on business travel. Approximately 72% of the supplier attendance reported that their corporate customers had cut back on travel. In addition, the corporate attendees responded that 41% of cutbacks were in internal travel, with international travel ranking second. In addition, 45% of respondents said that their corporations decision to cut back on travel indicated the cutback was in response to real earnings shortfalls, while 55% said it was premised on the threat of earnings shortfall. (4/26/01)