NEW YORK (AP) — U.S. companies are scaling back their travel plans in response to Europe’s financial crisis and uncertainty about the economy at home.
American business travelers are now expected to take 437.9 million trips this year, the Global Business Travel Association said Tuesday. That’s down 1.2 percent from an estimate made in April by the travel and meetings trade group.
The outlook for next year is even worse, with the trade group lowering its forecast to 435 million trips, down 1.9 percent from April’s estimate.
“We expect the growth in business travel will continue to be moderate to slow,” the group said in a report.
