China Projected to be World’s No. 1
Business Travel Destination by 2015
A
ccording to an industry study by
Global Business Travel Association
(GBTA), China is projected to
become the world’s number one business
travel destination by 2015.
In an article published by FoxBusiness.com,
the study estimates that business travel spending in China will increase by 17 percent in 2012
and 21 percent in 2013 which amounts to
$202 billion and $245 billion, respectively.
Business spending in the U.S. last year was
$250 billion.
China has been expanding its infrastructure, building new hotels and airports, in an
effort to meet rapidly rising demand for business travels in the region.
The study also points out that this growth
is not merely domestic as outbound trips from
China are forecast to grow to more than 100
million from just 10 million over the next 10 to
15 years.
This continued growth in China and other
emerging markets pose great business opportunities for companies looking to expand their
brand presence globally. With more hotels currently built in China, the demand for spa
products and technology in this region is
expected to proportionally increase. Likewise,
with an expanding middle class seen to travel
more in the coming years, Chinese tourists are
projected to help fuel global spa and tourism
growth as many of them would want to experience spa treatments and products unique to
the Western world.
“Chinese tourists are projected to help
fuel global spa and tourism growth as
many of them would want to experience
spa treatments and products unique to
the Western world.”
July 2012
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PULSE 13