Straw Poll: T&E Spend Not Getting Worse

The decline in corporate travel and entertainment spending that was underway before, and exacerbated by, the events of Sept. 11 has hit the bottom, according to 18 of 20 travel industry executives polled by Business Travel News this week, mainly at The Masters Program in Washington, D.C. About three-quarters of respondents said spending was even beginning to pick up, though only conservatively.
Several travel vendors noted that while the number of corporate trips is on the rise, travelers are paying less for the product, so yields are not improving. Said one buyer, "We're on the rise to a new, lower level." The poll supports a statement issued last week by JP Morgan that T&E spending had stabilized.