Chinese business travel market tops the United States

by Welcome Chinese

categories China Market China News

tags Asia Pacific business china travel Welcome Chinese 


Beijing’s business travel market accounted for $291.2bn in 2015, compared with $290.2bn in the United States. Since China’s spending for the sector is expected to jump a further 10.1% in 2016, to $320.7bn, this gap is likely to continue growing. Forecasts for the US indicate a 1.9% growth, with its business travel spending reaching $295.7bn this year.

CHINA AND THE US, TWO LONELY GIANTS - Data has been collected in the report “Business Travel Intelligence Outlook for China,” by the Global Business Travel Association (GBTA), that the Asian giant edged ahead the of the US in terms of total business travel spending at the end of 2015, by US$1 billion. Overall spending is dominated by the domestic sector, and other countries registered results that place them far behind. In fact, the upper part of the chart is completed by Germany ($64bn), Japan ($62bn) and the United Kingdom ($47bn).

BUSINESS TRAVEL AS A REAL INDICATOR OF THE ECONOMY - In an official statement, Michael W. McCormick, GBTA’s Executive Director, said that “despite a relative slowdown, China’s business travel market remains one of the fastest growing in the world. (…) China surpassing the United States in business travel spending marks a major inflection point and truly demonstrates the global nature of today’s economy.”

A CHINESE-LED GROWTH - GBTA added that it expects the Chinese GDP to rise 6.4% in 2016 and an additional 6.1% in 2017, “mainly from consumption and government infrastructure investment.” The “soft landing” of the Chinese economy, leaving behind any double-digit growth rates once and for all, is bringing a controlled moderation of growth, strictly controlled by the government. Expenditure in travel infrastructure will drive the continued growth of both leisure and business travel for the near future. It was noted that the development of new airports and high-speed railway lines continued at pace, while more than 70% of Asia Pacific’s hotel construction pipeline can be attributed to China.

Got Something To Say:

Your email address will not be published. Required fields are marked *



Recent Comments

Commented by Bill Frankish, 29.08.2017

We at the Candlewood Suites Calgary Airport North, closely located to the Calgary airport YYC, have been certified by the China Tourism Academy as having reached the JADE STANDARD of "Welcome Chinese" Certification. As such we greet each guest with a special Welcome envelope with Chinese information on our extended stay hotel. Guests receive slippers, tea, and have access to kettles and rice cookers at no charge. Some items are available in our little convenience store called The Cupboard, and there is a Chinese Super Market about 2 kilometers away which has a full selection of food items, commonly found in China, including live fish. Also at the same shopping area, an authentic Chinese Restaurant called The T. Pot , China Bistro From our location we have easy access to main highways to take you to Banff National Park, or the Royal Tyrrell Museum, an excellent Dinosaur museum. Candlewood Suites is an excellent location with cooking facilities which provides a great home base as you travel to various attractions in the area.