China to overtake US as top business travel market

Chinese produce double-digit business travel spending growth
Despite slower economic growth, by the end of this decade China is still likely to pass the USA as the world’s top business travel market.
Total business travel spending originating in China grew by around 16.6% to $261 billion in 2014, the Global Business Travel Association says in its most recent BTI Outlook on China. It will grow by a further 14.2% in 2015, and 12% in 2016, to reach $334 billion.
“There is simply no other market to compare China to as their economic engine continues to move forward at a phenomenal pace, producing double-digit business travel spending growth,” comments Michael W McCormick, the association’s executive director.
“Whether China becomes the world’s largest business travel market at the end of 2016 or the beginning of 2017 does not matter – what matters is that economic policies being set are showing signs of having a long-term positive impact on the economy, which points to a healthy business travel industry for years to come.”
[pictured: Crowne Plaza Resort Xishuangbanna, IHG’s first Crowne Plaza Resort in China]

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