Corporates will reduce the amount of money they spend on travel next year, according to a survey by the Association of Corporate Travel Executives.

The review – which polled 131 Acte members – also found a number of businesses are to reduce their amount of trips.

The research found that 33% of respondents admitted they will cut travel budgets, 31% said they would spend the same, while 36% said they may spend more.

Sue Gurley, Acte's executive director, said: “While a third of the respondents were openly spending less, those spending the same would ultimately be travelling less as the cost of travel has climbed significantly. Even those who stated they are spending more may find they are barely keeping up with cost increases.”

Gurley said the manner in which corporate travel managers are directing the cutbacks is “equally significant”. She said: “31% are cutting back on travel straight across the board, 39% are cutting back on internal meetings, while 16% are reducing international travel.  Another 9% have eliminated training trips as part of their agenda.”

The study found that economic uncertainty and rising fuel costs are
the main reason for the cutbacks.

According to the findings, cost reduction is the number one objective for travel managers in 2009 with 61% citing it as their main concern.

Traveller productivity ranked second on the list with 28% of respondents ranking it top of their list of priorities.