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Business Travel

U.S. Companies Are Cutting Budgets for Business Trips by 25 Percent

Matthew Parsons
Meetings events

Photo Credit: American companies are cutting their travel budgets by almost a quarter, according to corporate card and expense platform Ramp. Unsplash / Priscilla Du Preez

Skift Take

Tighter, leaner policies could put the brakes on the surge in travel that we've seen in recent months, a warning sign of economic trouble ahead and more bad news for business travel's full recovery.

As travel costs continue on a seemingly unstoppable rise, American companies are cutting their budgets for trips by almost a quarter, according to corporate card and expense platform Ramp. The U.S. startup launched a travel management platform in February, allowing businesses to create travel and expense policies with spending limits for different areas of travel. It's now found that for new travel policies, the total spend to be allowed on business trips in the future is almost 24 percent l

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