Business travel seen as essential to economic growth
By Susan Avery -- Purchasing, 11/21/2008 11:51:00 AM
Despite global economic challenges, travel is still an essential driver of business and economic growth, said Charles Petrucelli, president of American Express Global Travel Services, in a live online chat yesterday with members of a new business travel social network called BusinessTravelConnexion (BTX).
“The economy is having an impact on how companies buy travel services by setting a benchmark for how they manage and scrutinize spending,” he said in the chat with travel managers and suppliers.
American Express Business Travel launched BTX last month.
During the chat, Petrucelli responded to questions on innovations that
may arise from challenging circumstances by saying that he expects to see travel suppliers make enhancements to mobile tools for travelers and other technologies such as those that manage data reporting and expense control. He added that American Express will be launching mobile tools of its own in the first quarter of 2009.
Petrucelli also said that he does not expect to see a shift to a buyers’ market for travel because as demand was dropping, suppliers have been reducing capacity. “We need to wait for a few months to see if the market shifts,” he said. “While this is very true for the airlines, there could be opportunity for a buyers’ market for hotels.”
In addition, he addressed such topics as airline fees and industry consolidation in the chat.
See also:
Business travel costs set to rise in 2010
10/07/2009International airfare was up 21% in 2007
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