• USA Today, Wednesday, February 11, 2009 10:30 AM

The Association of Corporate Travel Executives says 71% of its member companies plan to spend less on travel this year than in 2008. Most companies are seeking to spend 10% to 20% less on travel than they were expecting to spend just five months ago, according to its latest survey.

The ACTE suggests that the 176 member companies that responded collectively will spend about $880 million less on travel this year than they had planned. If the same method for estimating is applied to the ACTE's full membership - about 2,400 companies - the impact would be more than $2 billion in foregone travel spending this year, a spokeswoman says.

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