Travel in doubt: U.S. companies are expected to cut back further on employee travel this year amid uncertainty surrounding the health of the economy. Trips are expected to fall 2 percent.
Concerns abound: The Global Business Travel Association cites a lack of significant job creation in the sectors that would spur more trips and worries about the so-called “fiscal cliff” as major factors hurting business travel plans.
Bright spot: Next year, GBTA forecasts total spending will rise 4.9 percent to $270 billion, a slight increase from their forecast three months ago. Total trips, though, are expected to fall 1.1 percent.
Source: Associated Press