Steep fuel costs threaten business travel growth

03/12/2012 | USA Today

Businesses say they are adopting measures to cut travel costs as fuel prices continue to rise. Although companies are stopping short of drastic cuts in corporate travel, they may be forced to do so soon if prices continue to increase, travel-industry observers say. "[T]he first thing companies do is look for ways they can economize without taking their people off the road, because they still have a business objective to accomplish. As things become more drastic, the number of trips either don't increase, or worst case, start to get cut," said Michael McCormick, executive director of the Global Business Travel Association.

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