Escalating gas prices have caused nearly half of companies to make changes regarding their business travel, according to a Compensation.BLR.com poll.
When asked, "How has the escalating cost of gas impacted your company's business travel?," about 1 in 3 (34 percent) responded "We have cut back on travel" while another 14 percent responded "We have raised our mileage reimbursement rate." The remaining 52 percent responded that the cost of gas has had "No impact" on their business travel.
A recent survey by Access America found that 86 percent of business travelers reported frustration with gas prices during the first quarter of 2008. Overall, the quarterly survey found that those who said they were "very frustrated" with gas prices is up nearly 20 percentage points overall, rising from 57 percent in late 2007 to 73 percent in the first quarter of 2008.
The Compensation.BLR.com poll included 149 respondents.