80% of UK firms not cutting back on overseas business travel

Four out of five UK businesses are still planning to spend money on travel, despite the current economic crisis, according to research by the Institute of Travel Management (ITM).

The ITM survey found that only 20% of firms are planning to implement a total ban on staff traveling abroad and that 53% are positive about the future of the business travel industry.

"Our clients are still traveling but nearly all of them are looking to save money," said David Radcliffe, chief executive of business travel company Hogg Robinson.