Amex's 2010 European Business Travel Outlook

American Express Business Travel today announced the results of its 2009 European Barometer, during its 19th Espace Voyages Professionnels (EVP) in Paris, the leading business travel event in Europe. The Barometer highlights the impact the global economic crisis has had on business travel expenditure, revealing an 18% fall in budgets reported on average. Sixty-six percent of companies report a reduction (-31%) of their travel budgets, 23% have witnessed no change and a mere 11% have noted an increase (of +23%).

‘Faced with an unprecedented economic crisis, we are seeing a new normal emerge with corporate behaviour. We’ve seen travel policies tighten up, purchasing controls increase and employee travel driven by client retention needs where as a focus was on driving new business. Travel management companies (TMC) play a key role in helping companies maximize savings without sacrificing the tangible benefits of a robust travel and entertainment program’, said David Herrick, Senior Vice President & General Manager, Business Travel EMEA.