The NBTA Foundation (National Business Travel Association) recently released survey results for a 2010 study. The annual survey’s aim is to promote industry price and statistical transparency. The full analysis can be found on the press release page at http://www2.nbta.org/foundation/pressreleases/Pages/rls113010.aspx.
The NBTA Foundation survey polled 250 U.S. and Canadian business travel and meeting managers. On balance, encouraging results emerged for the health and recovery of the business travel sector.
The survey found that 63% of respondents feel fine about their current travel compensation, a rise in satisfaction from 53% approval last year. Travel budgets have expanded with the economic recovery, but travel buyers also are employing new cost saving tools, like using corporate housing in San Diego and other major cities, to make the most efficient use of resources.
Overall, travel managers’ salaries also saw an uptick. The increase correlates positively with position in the company; vice presidents reporting a 39% increase, while managers saw, on average, a 2.8% increase. Rise in company sales volume also affected compensation rates. Managers who hold special certifications earn 1.2% more compared with uncertified managers.
Business travel should continue to take more responsibility for company earnings as we continue into 2011.