According to a recent article in CBS Money Watch, China is expected to top the United States in business travel by 2017.
The Global Business Travel Association put out a report, sponsored by Visa, stating that despite China’s cooling economy, their business travel spend still grew by 16.4 percent in 2014 to a whopping $261 billion. As for 2015, it’s expected to grow another 14 percent, while a growth of 12 percent is expected in 2016.
A GBTA executive stated, “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.”
As business travel is expected to slowly, but continually grow, leisure travel is also in the positive. Hoteliers have significantly increased their presence in China over the last decade, and demand continues to outpace supply in every class of hotel.
To read more, click here: http://www.cbsnews.com/news/china-to-overtake-u-s-as-top-global-business-travel-market/