Business travel rates return to pre-recession levels

The business travel arm of American Express has issued a report suggesting that airfares and hotel room prices for business travellers are near to what they were before the global recession.

Air travel fares within the US are up 6% for the third quarter of this year in comparison to the same period in 2009. The report also mentions that international air rates are up by 8% and hotel room prices for business guests in the US are up by 3%. However, in some states the latter figure rises to up to 10% in New York and 5% for both New Orleans and Washington, D.C.

Financial analysts claim business travel spending took a heavy blow back in September, 2008 – The American Internal Group of insurers held business retreats at the luxury St. Regis Monarch Beach Resort in Dana Point, but was lambasted with criticism as at the time of the discovery AIG has just received a $85 billion bailout from the Government. These negative reports are likely to have made large businesses modify their employee travel spending to less lavish levels in order to avoid similar press..

In the third quarter of 2007, it is understood that the average fare for domestic plane travel stood at $231, but dropped significantly to $215 during 2009. The pre-recession levels are said to be making a comeback as the latest report reveals an average ticket is now priced at $228.

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