With the financial downturn in full swing; most of us are clinging to the seat of our chair as winter approaches. But as we’ve stated before; these are actually good times for the purchasing profession.
Your CEO might be sending out memos left and right calling for cost cuts; and the great thing is that there are savings everywhere. For many categories we’re truly looking at a buyers market.
Take hotels for instance; the latest index published by hotels.com shows a price fall of nearly 25 percent across the board.
- NYC: – 25 percent
- Rome: – 27 percent
- Barcelona: – 27 percent
- London: – 30 percent
But it’s important to note that this is not a global trend yet. Hotels in the Middle East and South America seem to be holding up better. According to Hotels.com CEO Nigel Pocklington this is attributed to a stronger local market.
If there ever was a time to start looking over your companies travel costs it’s now. Chances are you can spot source a deal for those winter business trips.
