| AMEX releases travel forecast |
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 The cost of business travel is not expected to change significantly in 2009, according to the American Express Business Travel 2009 Global Business Travel Forecast and TrendsReport, which was published earlier this month. American Express’s travel management company normally releases its forecast in September for the following year, but delayed the 2009 report until October so that its Advisory Services team would have a chance to re-assess the impact of the financial crisis on business travel. “So, what we see based on our forecast is the halt of a steady upward climb of costs in recent years,” noted the American Express Business Travel vice president and general manager of Global Advisory Services and Meetings Solutions, Hervé Sedky, speaking in New York. “This presents a good opportunity for travel buyers to realize savings.” The company is forecasting that the average cost of a domestic business trip will increase by 2.8 percent, or $30, up to $1,030, and that the average cost of an international business trip will increase by 4.3 percent, or $147, up to $3,056. The average trip cost comprises airfare and accommodation and car rental costs. With the new forecast for 2009, American Express has changed it metric so that the total trip cost now includes fees charges by air carriers, taxi fares, meals, web conferencing and shipping charges for materials. The report indicates that these additional costs can add $400 or more to the cost of a trip. |