American Express Clients Expect China to Lead Business Travel Recovery

-- Company Reports Results of Two Surveys Evaluating the Economic and Business
Travel Outlook of its Largest Global Clients and its China-based Clients --

-- Results Revealed During its Fifth Annual China Business Travel Forum Held in
Shanghai --
SHANGHAI--(Business Wire)--
American Express Business Travel announced today the findings of two surveys
which offered separate yet similar predictions on the health and future of
business travel heading into 2010. The company surveyed its Global Business
Partnership (GBP) clients, its largest global clients, as well as 180 client
organizations based across Shanghai, Beijing, and Guangzhou in China through its
annual China Business Travel Survey (The Barometer). The findings indicate that
clients expect China will lead business travel recovery. Further, investment by
global companies and local companies in China should increase over the next 12
months. The results of the company`s GBP survey and Barometer were revealed
during the fifth annual American Express China Business Travel Forum (CBTF) held
in Shanghai this week.

"Economic conditions over the past year have undoubtedly impacted the travel and
entertainment industry on a global scale, however increase in demand will help
to drive business and encourage investments, particularly in China," said
Charles Petruccelli, president American Express Global Travel Services. "As we
look ahead to next year, we believe travel spend will play a crucial role in
fueling recovery not only in China, but on a broader scale as countries begin to
emerge from the recessionary environment. Businesses that will be best placed to
take advantage of business opportunities in China, the U.S., or anywhere will
strike the right balance between supporting necessary business-generating travel
with applying smarter controls that don`t deplete the bottom line."

The GBP survey reported the findings of 20 percent of American Express Business
Travel`s largest corporate clients, representing more than $1B in air volume.
Sixty-eight percent of respondents anticipate that China`s economic prospects
would be better than those of the United States, followed by India. Eighty-nine
percent of companies surveyed expect their companies to invest in China over the
next twelve months while 79 percent say they will invest in India over the next
year. A further 46 percent stated that China would be a top priority for
international expansion in the short term.

The Barometer reported that respondents expect China as being the first country
to emerge from the current economic cycle, with 72 percent of firms expecting to
invest in China over the next twelve months. Interestingly, 60 percent of
Chinese organizations surveyed have already started to hire staff or intend to
finish hiring additional staff by the fourth quarter of 2009.

Additional Findings of the GBP Survey

Most global companies believe the worst of the economic crisis is over with 79
percent of executives predicting a modest economic expansion over the next 12
months. However, this does not mean spending will reflect this attitude:

* 50 percent of respondents said that their company will decrease travel
spending over the next year by more than 10 percent.
* 25 percent stated T&E spend will stay the same over the coming year.

Meetings and events are reported as seeing the brunt of cutbacks with the survey
stating more than 70 percent of companies have an opportunity to better control
spending on meetings and events, a far larger percentage than those who felt
they could cut back on air or hotel to control their costs.

Respondents were split on when their company will start hiring to support
growth:

* 25 percent predicted they would be hiring again come first quarter of 2010.
* 36 percent said they will continue to hold off on hiring until 2011.

Key China Barometer Findings

The Barometer reveals that the global economic crisis has slowed, but not
stopped, many organizations in China from investing in T&E. Twenty-nine percent
of companies surveyed admit they have increased spending in this area over the
past 12 months, though there is a visible slowdown in pace compared to last
year`s 43 percent. Fifty-five percent of organizations indicate their T&E
spending remained flat while only 16 percent reported a reduction in spending.

Chinese companies have tightened their monitoring and control of travel
expenditure

Travel policy compliance continues to improve and has been a focus of companies
during this turbulent past year as they fight to gain tighter control over
expenses.

Over the last four surveys, the focus on employee efficiency has been a growing
concern while cost still remains important in devising T&E policy. The Barometer
reveals that a vast majority of companies in China have consistently focused on
monitoring and controlling travel expenditure, some highlights include:

* Almost 80 percent of organizations surveyed have formal policies in place, up
from 70 percent last year.
* Policy compliance among employee travelers is also on the rise with 68 percent
of companies reporting they have attained more than 50 percent compliance, up 17
percent from last year.
* Companies continue to use a mix of methods and tools to control their T&E
expenditure. This year, the finance / purchasing departments show a greater role
than the travel manager in the controlling of the expenses.
* A high number of Chinese organizations continue to have negotiated rates with
suppliers i.e. 78 percent with airlines and 79 percent with hotels.
* Chinese firms are also encouraging the use of lower class for air travel and
accommodation. The use of economy fares remains predominant due to the weight of
domestic demand in overall travel spending.

Gregor Lochtie, vice president and general manager, Greater China, American
Express Business Travel stated, "We`ve seen more organizations strive for an
equal balance between cost and employee efficiency through robust travel
policies. There`s no doubt progress has been made, but there is still room for
improvement. The survey also shows China-based companies still enjoy varying
degrees of autonomy and make decisions such as how to book their travel and what
form of payment to use."

T&E expenditure to increase in 2010

The Barometer also surveyed companies about their investment intentions over the
next year.

Despite positive signs for a more prosperous 2010, businesses in China continue
to remain cautious and have a number of strategies in place to control spending.
These include:

* Tightening travel policy compliance
* Shifting business travel to economy
* Increasing usage of online booking tools
* Enforcing the use of preferred travel management companies

This sentiment is reflected by Tony Kieffer, Managing Director of Fair Isaac,
who took part in the survey. Tony commented, "As we look forward to 2010, we see
quite a bit of activity already in China. Measures taken by the Chinese
government to liberalize some landing policies and the stimulus package has
resulted in tremendous numbers of loan activities and many new projects. This
directly increases the need for our staff to travel. I think we will be guarded
as to where we spend our travel budget, but we`ll certainly continue on the path
we`ve set in the second half of 2009."

Concludes Lochtie, "While the global economic crisis has placed a significant
strain on companies it`s also created opportunities - it`s made them want to
spend smarter. We intend to use the results of the Barometer to work with our
customers to help them maximise savings without sacrificing the tangible
benefits of a robust travel and entertainment program. As a world leader in
business travel management, American Express is proud to be working with our
growing customer base in China to help them to achieve these goals."

Notes to Editors:

About the Global Business Partnership (GBP) Survey

American Express Business Travel surveyed key executives at its largest clients
with global operations between August 2009 and September 2009 regarding their
outlook on economic recovery in specific countries as well as travel management
programs and plans. Respondents represented twenty percent of this client
population with more than $1billion in air travel spending worldwide.

About the Barometer

The Barometer was conducted by Research International with the analysis and
report carried out by Groupe Concomitance. The survey was conducted from August
09 to September 09 with 180 Chinese and foreign companies interviewed in the
three economic regions of Shanghai, Beijing and Guangzhou. Findings of The
Barometer provide organizations, vendors and suppliers with the latest
information on T&E management practices and the outlook of the business travel
market for 2009 in China.

About the American Express China Business Travel Forum 2009

The China Business Travel Forum is created and hosted by American Express
Business Travel and the Shanghai International Conference Management
Organization, a subsidiary of Shanghai Municipal Tourism Administration. It is a
business-to-business educational conference, designed to showcase the business
travel industry, foster business relationships and further business travel in
China, both internally and externally. The Forum, which was first held in
Shanghai in 2005, is the first-ever event of its kind in China and features a
wide variety of exhibitors including leading airlines, hotel chains, car rental
companies as well as technology companies.

About American Express Business Travel

American Express Business Travel (www.americanexpress.com/businesstravel), a
division of American Express Company, is committed to helping its clients
maximize the greatest return on their travel investment through increased cost
savings, world-class customer service and greater spending control. With clients
ranging from small businesses to multinational corporations, American Express
Business Travel provides a combination of industry-leading technology, travel
management consulting, strategic sourcing and supplier negotiation support,
alongside global customer service available online and offline. The Company also
provides a dynamic online community (www.businesstravelconneXion.com) harnessing
the collective intelligence of those in the business travel industry offering a
variety of perspectives, best practices, current research and industry news.

American Express operates one of the world`s largest travel agency networks with
locations in over 140 countries worldwide. Total travel sales volume in 2008 was
$29.1 billion, including proprietary volume, volume processed through joint
ventures, and American Express branded volume processed through its partner
network.

American Express Company (www.americanexpress.com) is a leading global payments,
network and travel company founded in 1850.

Tracy Paurowski, 212-640-8409
tracy.j.paurowski@aexp.com
or
Kristine Nalbone, 212-446-1897
knalbone@sloanepr.com

Copyright Business Wire 2009