The dollar is losing value in overseas markets. A main effect of this is increasing expenses for business travelers going overseas. Not only has the average ticket price risen due to the dropping dollar, but add in the growing fuel surcharge tax applied by airlines on top of that and you're in for a double whammy.
The Business Standard says:
"The signs are ominous. The euro is kissing 1.5, the yen is below 108 and a low for the last several years and the pound is persisting above 2. The Fed"s broadest measure of the dollar (the 37-country trade- weighted BROAD index) is close to its historical low of 84, reached in Oct 1978, and July 1995. The News gets bleaker still – oil is at $100 a barrel and commodity producers are planning to change their century-old practice of pricing in dollars."
So, with the dollar at historical lows, overseas travel is an increasingly less attractive proposition for businesses to consider. With this in mind, savvy managers weigh all the options that they have available as they squeeze profit dollars to their bottom lines. Teleconferencing, web conferencing with application sharing, video conferencing, and instant messaging are becoming an accepted alternative to everyday overseas business travel in this growing global marketplace. Although not every business trip can be replaced by teleconferencing, many aspects – such as initial planning meetings, or updates — can fill in, or even surpass "going there".