Travel Costs Climb
Business airfares are expected to rise up to 9 percent in 1997, jumping from already record highs. The cost of car rentals, hotel rooms and meals also are expected to increase slightly, according to travel predictions released Thursday by American Express Co.
Overall, businesses will spend 6 percent to 7 percent more for travel in 1997, the company said.
“It’s a disconcerting trend, but it’s not going to have a huge impact on the amount of travel we’re going to do,” said T. Frank Murphy, vice president for American Exploration Co., a Houstonbased oil company with about 150 employees.
According to the American Express projections, the typical business airfare, a domestic round-trip economy ticket, is expected to rise 8 percent to 9 percent from the 1996 average of $732.