The findings are as mixed as the weather forecast when it comes to determining the impact on the corporate travel market from the litany of woes afflicting major economies around the world.

No one really knows for sure how long or deep the impact will be, but one thing's for sure - all stakeholders, from travel management companies to suppliers - are keeping a close eye on the situation and are monitoring trends closely.

According to the Association of Corporate Travel Executives (ACTE) in the US, more than half of the 128 members which responded to an informal survey recently, indicated they had already cut back on business travel.

Nearly two-thirds said the reduction in airline schedules and services was also limiting their options to meet directly with manufacturers, suppliers and buyers.

An Orbitz survey however found that business travellers were not cutting back on trips but were tightening their belts.

"The majority of our clients are travelling as much in terms of frequency but their companies are finding ways to do things less expensively," said Mr Dean Sivley, Chief Operating Officer of Orbitz for Business, the corporate division of the online booking site.

Business travellers stretching their dollar, says Amex boss

In Asia, a similar scenario seems to be unfolding. Ms Irene See, Vice President and General Manager (ASEAN) for American Express Business Travel, said: "Business travellers are not really cutting back, but they're trying to stretch their dollar."

This means flying with cheaper carriers - rather than downgrading from first or business class, they opt for business class on a less expensive airline, for instance - and increasingly using online booking tools, which means not having to pay service fees to travel agencies.

The Centre for Asia Pacific Aviation's Executive Chairman, Mr Peter Harbison, said that there had not yet been a marked downturn in the demand for premium seats.

The HSMAI (Hospitality Sales and Marketing Associates International) Hong Kong/Macau Chapter meanwhile polled hoteliers in Hong Kong on their outlook on corporate business and found a mixed set of responses.

The poll found that hoteliers expected long haul business to slow down in the next year but that they would maintain or see a slight increase in revenues from intra-Asia Pacific markets.

Study key accounts and watch market mix, hoteliers advised

As with most markets in Asia, Hong Kong is betting on growth from China to offset any decline. "In view of this, hotels are advised to re-evaluate the value of their key accounts and to anticipate a change to the market mix," observed Ms Carmen Lam, a founding board member of HSMAI Asia Pacific and the Chapter Lead for the HSMAI Hong Kong/Macau chapter.

Other key findings from the poll:

.  90% of respondents report corporate accounts are already tightening control of travel expenses

.  45% of respondents expect the value of negotiated contracts in 2009 to be the same as 2008

.  Only 33% of respondents expect to secure more volume corporate room nights in 2009 than 2008

.  100% of respondents expect business from North America will decrease while 80% expect business from China to increase

BCD maintains "very positive" outlook

President-Asia Pacific of BCD Travel, Mr Mike Buckman said that the company's outlook on corporate travel remained "very positive".

"The growth numbers may be tempered but we are optimistic. We acknowledge that this is a fast growing region and we expect it to remain so in the near future," he said.

The Singapore-based Mr Buckman said there had been a slowdown in travel to the region primarily from North America.

However, he said BCD Travel had seen little evidence of travellers trading down. "Our clients' trends are showing that the number of trips and associated expenses remain high."

He added: "We have not seen a downward adjustment of room rates across the region. While there may be some locations that have had price corrections, on the whole, we are still experiencing a situation of excess demand and limited supply."

However, he said that the rising cost of fuel would impact corporate travel in Asia through increased airfares and costs driven by the flow through of increased fuel costs to public transport and food & beverage.