The current recession no doubt has companies rethinking... and therefore... reducing their travel expenditures.
How?
1. Companies are re-evaluating employee trips. Does their travel generate revenue? This puts greater pressure on the employee to make their travel count towards the bottom line. It also affects others by reducing their business travel when such is seen as non-contributing to the company's bottom line.
2. Contracts with travel suppliers (hotels etc.) are being re-negotiated by companies who are demanding things such as free wi-fi, fitness center access, and shared rooms by same-sex employees.
3. Luxury business travel is being cut out. No more first-class/business class flying, five-star hotel stays, and expensive restaurants for deal-making with clients.
4. Transportation costs associated with business travel are also being slashed. No more Town Cars but taxis being taken, and for the savvy business traveller, public transportation (where available) is a desirable option for sure. How about waiting for colleagues on a later schedule so you can pool together in a taxi cab? Yes for sure according to many an employer now... as inconvenient as such may be.
Business Travel = Budget Travel
New Jersey should suspend hotel taxes in the short term to attract travellers and therefore pump up the state economy! For example, business travellers who might otherwise stay in NYC will think twice if they see they can get a deeper discount for staying in Jersey, especially given the readily available transportation options to get to Manhattan from Jersey at a low cost.
