Key performance indicators for Carlson Wagonlit Travel (CWT) testify to the unusual challenges the travel industry and most other businesses confronted during the global recession of 2009.
Total CWT transactions for 2009 were down 9.3% (includes air, hotel and ground transportation for wholly owned operations and joint ventures) compared to 2008. Sales volume, which totaled US $21.4 billion, fell 22.8% year over year. The higher drop in volume versus transactions demonstrates the aggressive cost-cutting measures companies took to reduce their travel spend and was seen in all regions. Volume in Asia Pacific and EMEA (Europe, Middle East, Africa) was impacted most, declining by 27.6% and 27.1% respectively. In Latin America, volume declined 21.2% year over year, while North America saw a 17.4 % decrease over the same period.
CWT reported annualized new sales, excluding renewals, of US $1.86 billion for 2009, a year that saw an unusually high number of companies ascertain competitive market conditions by putting their managed travel programs out for bid. CWT also enjoyed a 96% client retention rate. Furthermore, the proportion of 'satisfied'
