Travel management company, BCD Travel, reports increasing price wars among airlines, car hire companies and hotels for corporate travel dollars in the first quarter of 2009.
Due to the economic downturn, corporate travellers are gaining the upper hand and re-negotiating their rates with preferred suppliers, as well as opting for best fare of the day policies to save money in tough financial times.
Airlines are now willing to price match their competitors in order to win more corporate travel dollars, and five star hotels are offering four star rates on accommodation, meetings incentives conferences exhibitions (MICE).
Corporate travel clients are increasingly choosing mainland locations or close by international destinations for meetings incentives conferences exhibitions (MICE).
The costs of organising meetings incentives conferences exhibitions (MICE) in the Asia-Pacific region are far more favourable than locations further abroad, such as the Americas.