Press Release
For Immediate Release
18 September 2008
Financial Uncertainty Spark Strongest Surge of Pre-Conference Registrations in Recent ACTE History
Alexandria, Va --
Global uncertainty in the world’s financial markets is drawing business travel management executives together. Specifically, it is drawing them to the Association of Corporate Travel Executives’ (ACTE) Global Education Conference in Rome, 5-7 October 2008. According to a statement issued by ACTE’s President Richard Crum, recent devastating Wall Street developments have prompted the strongest surge of pre-event registrations for a European conference in the association’s history.
“Concern bordering fear is surging through the business travel management profession on several levels,” said Crum. “There is fear among suppliers that a more pronounced economic downturn will curtail spending in 2009. There is fear that companies pressed for cash will simply slash travel across the board, reducing the need to manage this asset. And there is fear that the business travel industry will stall when it should be investing in new opportunities.”
Crum added that the combination of the weak dollar and the climbing cost of fuel has already left the business travel management industry reeling. “A crippled financial market with international ramifications could slow both consumer and corporate spending throughout Europe and Asia too. It is a ripple effect and many travel managers believe it is far from over.”
The underlying question for thousands will be, “How will this all impact me and my company?”
“ACTE is about education and, in challenging economic times, knowledge is indeed power. Travel management executives burdened with uncertainty and fear are coming to the right place,” said Crum “ACTE has been preparing for this scenario for well over a year.”
The conference agenda includes three educational sessions that focus on “demand management, value management,” and “strategic meetings management.” Each offers a series of potential alternatives that boost cost-reduction strategies without compromising corporate ob
ACTE predicted a severe economic downturn in the U.S. more than a year ago. It was not a popular conclusion at the time. ACTE adjusted its education curriculum accordingly to include noted internationally renowned economists such as Dr. Nariman Behravesh, Chief Economist, Global Insight, who will speak at the association’s upcoming Global Education Conference in Rome.
Yet advance planning has paid off for the association’s membership, and thousands of others who rely on ACTE programs for to maintain an industry edge. In preparation for lean times, the association launched ACTE Connect, an online data repository for the industry – free of charge and not subject to membership. TransACTE is another new program that allows suppliers to exhibit at an event – without being saddled with trade show fees and development costs.
“In tough times you want answers and options, and relevant topical keynote speakers, not entertainers,” said Crum. “ACTE will continue to work on behalf of travel managers and suppliers alike to give them the tools they need to succeed – in good times and in bad.”
ABOUT ACTE:
The Association of Corporate Travel Executives (ACTE) represents the global business travel industry through its international advocacy efforts, executive level educational programs, and independent industry research. ACTE's membership consists of senior travel industry executives from 82 countries representing the €463 billion business travel industry. With the support of sponsors from every major segment of the business travel industry, ACTE develops and delivers educational programs in key business centers throughout the world. ACTE has offices in Africa, Asia-Pacific, Canada, Europe, Latin America, Middle East and the United States. For more information on ACTE, please go to www.acte.org.
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