A recent Harris Poll shows that Italy has become the world's number one destination spot outside of the United States. Also popular are Great Britain, France and Ireland. This indicates that, while travel in some areas may be down, overseas trips are still very popular. Another survey by a leading travel company shows that those surveyed feel travel is important to their mental health and that they will continue to pursue personal interests when they travel despite the economy.
Impact on Business Travel
The Association of Corporate Travel Executives (ACTE) survey shows that the cost containment trend has even expanded into the business world as companies look for ways to control their travel spend. While travel for business is still required, companies are trying to clamp down on expenses.
"At one time business travel was considered a necessary expenditure and was generally not thought about much or thoroughly scrutinized," said Christopher Russell Travelex's executive vice president of outsourcing, Americas. "We see that starting to change. Travel management and travel spend management is being discussed in CEO offices and board rooms across the country. Travel managers are locking down exchange rates, using prepaid currency cards, Cash Passport and pre-ordering foreign currency."
