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American Express Confident of Asian Business Travel, in Spite of Cost-Cutting.
Byline: Parista Yuthamanop
Sep. 3--American Express expects its travel and expense services to grow strongly as Asian firms tighten costs.
Spending on travel and other expenses by Asian companies is estimated at US$100 billion a year.
Howard Allen, head of Amex corporate services for the Asia-Pacific, said spending would remain stable as firms needed to keep overseas links.
Companies with designated travel managers can save costs. Sixty-five per cent of companies in Australia, 40 percent in Singapore, 29 percent in Thailand and 17 percent in Taiwan have travel managers.
Eighty-five percent of Japanese firms have travel planning policies, ...
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