Economic Trends: Corporate Travel Growth Slowing

A recent CNBC report indicates economic uncertainty is taking a toll on businesses. Corporate travel growth slowing, especially for domestic travel (travel . Companies tend to invest more heavily in business travel when they see growth opportunities. They are still investing in business travel, just not at the same rate. Growth rate was 6.9% in 2011 and 2012 projected growth is expected to be 4.3%.

International business travel still holding steady as companies still see growth and expansion opportunities abroad as the U.S. economy still remains sluggish. International travel is concentrated on areas where companies see growth opportunities. These are areas like China, India, Brasil.

How is this effecting the company you work at? Does the slowdown in corporate travel increase corporate investment in online collaboration tools and technologies (skype, gotomeeting, webex, and others)?

Full story at CNBC