Firms refine travel policies to get more bang for their buck
Some slash their travel budgets, others look at economy or budget fares, to get more value for flights and hotels
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Nisha Ramchandani
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Singapore
Corporations are tightening their travel policies to stretch their budgets amid headwinds in the global economy, said David Reimer, managing director of American Express Business Travel for the Asia-Pacific.
Overall budgets are expected to remain flat this year, but firms in hard-hit sectors such as banking and finance as well as mining and energy have been slashing their travel budgets by 15 to 20 per cent.
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