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The Association of Corporate Travel Executives says 71 percent of its member companies plan to spend less on travel this year than in 2008.

According to the trade group, that’s a huge and unprecedented shift in corporate travel mangers’ plans from just five months ago.

ACTE’s new survey shows most companies are seeking to spend 10 percent to 20 percent less on travel than they reported in September of 2008.

Using the most conservative figures for estimating the dollar impact of such cuts, ACTE suggests that the 176 member companies responding to the survey will spend about $880 million less on travel this year than they had planned personal no fax payday loan. If the same estimate is applied to the ACTE’s full membership of 2,400 companies, the impact would be more than $2 billion.

The Alexandria, Va.- based Association of Corporate Travel Executives is a not-for-profit group established to provide executive-level global education and peer-to-peer networking opportunities. ACTE serves more than 6,000 executives in 80 countries.

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