In a survey commissioned by the U.S. Travel Association, APCO Insight interviewed 401 business executives (at companies with more that $50 million in annual sales) and found that 82 percent feel travel is important to achieving business results. Additionally, 81 percent of business executives believe more client contact is necessary in an economic downturn, and 59 percent strongly agree that in-person contact grows business. Furthermore, 53 percent believe that companies reducing business travel give an advantage to their competitors.

Kellogg Business School Professor Daniel Diermeier stated, ?It?s a classic trade off between short term cost-reductions and long term value. During times like these, many companies will go too far, and actually cut back on the activities that would best position them to compete in the future.?

Dr. Suzanne Cook, U.S. Travel?s senior vice president of research noted, ?It?s also clear from our survey results that the old maxim remains true; if you don?t take care of your customers, someone else will.?

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