While corporate travel and spending is on the rise, perks such as first- and business-class flights and luxury hotels are declining as more companies aim to cut costs in a tough economy.

After waning during the recession, business travel is on the rebound, according to the latest business travel forecast from the Global Business Travel Association. The report predicts a 6.2 percent increase in spending on business travel to $310.2 billion in 2015 and a 1.7 percent rise in corporate trips to $490.4 million this year.

According to Mike McCormick, executive director, GBTA in a USA Today article, the upswing is a result of corporate confidence and companies recognizing “the return of putting people on the road.” Inflation is also a major driver, fueling two-thirds of that increased spending.

However, while business is back, business travel perks such as expensive dinners and premium flights are not, according to McCormick. Companies are tightening the reins around luxurious travel expenses unless there is a specific business benefit to spending money on those perks.

“Companies see that there is value at times in using a premium class of service. There is value at times at spending more to entertain your clients. But you do that with a specific business purpose in mind,” said McCormick.

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