Companies intent on coping with the economic downturn during the past year cut back on business travel to reduce expenses. In fact, a survey by CareerBuilder shows that 30 percent of responding firms reduced business travel in 2010. More than a third of those companies also blamed the fewer business trips for shrinking their bottom lines.
Business travel this year will continue at a slower pace, the majority of those firms surveyed said. Eleven percent of them anticipate more travel this year, while 13 percent predicted a further slowdown. Many companies are also telling their employees to travel coach, cut back on entertainment budgets, and avoid international travel as much as possible. The corporate housing San Diego offers business travelers will likely come in handy for travelers looking for increased features & amenities at lower price points than hotels.
Keeping in touch with important customers is an integral part of any successful business. Companies are reviewing their travel policies to make sure they manage to continue a hands-on relationship with their clients, while also determining the best way to maximize the success their business trips can accomplish, as they’re anxious to both maintain close ties with old clients while simultaneously finding new business.