Welcome to Connecting News, NBTA's monthly electronic newsletter connecting NBTA members with unique industry perspectives and the latest news and benefits from NBTA.
September 2008 Issue:
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Corporate Travel Community Current Calm in Uncertain Economy
Corporate travel professionals from around the world have been watching closely as the global economy has slowed and the cost of oil has skyrocketed. Industry colleagues have begun to share and compare cost containment measures, and the recent uncertainty on Wall Street has the business travel community wondering what will happen next.
To gauge the impact on American businesses and their travel operations, NBTA from July through September surveyed 230 of its U.S. Direct (travel buyer) members, the majority of whom report a T&E spend of $10 to $25 million. The response was calm. While more than 50 percent of respondents are witnessing a cost savings mentality at every level within their organizations, it is clear that business travel is here to stay.
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Travel Industry Steps Up in the Face of Rising Oil Prices
Amidst a confluence of factors presently putting a strain on the travel industry, the rising and unstable price of oil has played a leading role. September saw a record-high oil price spike of more than $25 a barrel, exceeding the previous record of a $10 jump set in June of this year. And oil has once again dropped to $100 a barrel, the cost comparison to last year is undeniably significant; reaffirming the presence of oil speculators interfering in the market, despite warnings from Congress.
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U.S. Global Entry Program Gaining Momentum
The U.S. Customs and Border Protection recently expanded its international trusted traveler pilot program. Global Entry, which provides frequent low-risk travelers with a mechanism to speed their processing through U.S. immigration checkpoints, is now operational in seven U.S. international airports.
Participants enrolled in Global Entry are able to bypass the regular passport control line upon reentry to the United States and proceed directly to the Global Entry kiosks, where their identity is confirmed via a biometric check. Upon successful completion of the Global Entry process at the kiosk, travelers are issued a receipt and directed to baggage claim and the exit, saving them time and energy.
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Member Benefit Spotlight:
NetSmart Series: NBTA LA Best in Show (October 1-14)
Featuring five of the top-rates education sessions from the NBTA Convention in Los Angeles, this NetSmart series is your chance to experience some of the great sessions you may have missed.
Conducted live via webcast, you’ll have the opportunity to gain new insights that will improve your own job performance as well as ask questions of our top-rated presenters.
Details
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New Members
Please join us in welcoming NBTA's newest members.
Members on the Move
Congratulations to NBTA members who have recently received a promotion or taken a new position.
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