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The majority of European companies said they maintained their business travel budgets in 2012 according to the latest American Express Global Business Travel survey, with travel spend to be protected from cuts next year.
American Express Global Business Travel takes a Barometer of the business travel landscape on an annual basis to analyse corporate travel spend and firms' adherence to travel policies. In its 2012 survey of over 500 European companies the travel management firm found that 63 percent of them maintained their business travel budgets in the last year, with 23 percent increasing travel spending.
Just 14 percent of companies cut business travel budgets. This compares to a telling decrease of 21 percent in 2011, 40 percent in 2010 and 66 percent in 2009.
Most of the surveyed firms (73 percent) are not planning to tinker with budgets next year, while only 16 percent intend to increase spending.
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