US rates expected to increase at a slower pace while demand heavy markets incline sharply, and hotel rates rise globally-

The American Express annual Global Business Travel Forecast released today reports that demand for business travel services will again outweigh supply in 2008, driving continued increases in rates across air, hotel, car rental and corporate meetings and events.

While worldwide airfares are expected to continue their climb, hotel rates are projected to experience high double-digit increases in demand-heavy markets across the U.S., Europe and Asia.

"Travel managers and procurement professionals can expect another capacity-restricted, challenging year and a continued push to keep travel and entertainment budgets in check. However, opportunities still exist to further control costs without curtailing business travel," said Mike Streit, Vice President and Global Leader for American Express Business Travel Advisory Services.

"Heading into 2008, successful T&E management strategies will focus not just on controlling travel expenses, but also on identifying additional areas to control costs and save, such as entertainment and related services including corporate meetings and events."

To view the full Global Business Travel Forecast press release:

www.home3.americanexpress.com/corp/pc/2007/pdf/GBTF.pdf