Michael W. McCormick, GBTA executive director and COO opinionated, “Travel is indispensable to trade, commerce and business expansion in a global economy,” He further added, “This report shows that new opportunities are opening up in markets around the world for companies willing to invest in business travel to drive growth. It also serves as yet another wake-up call for the U.S. and Europe to improve aging infrastructure, establish fiscal order and stay competitive, because emerging economies are increasingly focused on meeting their own fast-growing business travel needs.”
He reports further conclude that China is going to surpass US in terms of business travels in the year 2016. This is all due to an expanse of China and Asia worldwide with businessmen passing more of their time in flights and in hotels. The graph so depicted reveal that have been a steady expense done in the 2nd quarter of 2013 behind travelling. There will be growth of 8.2 % leading to value of $1.2 trillion by 2014, with a further rise of 7.6% in 2015, followed by 7.2% in 2016 and 7.1% in 2017.
Asia has shown some tremendous soar in the percentage of business travelers. The growth was recorded to 8% in the year 2000 but this has shown a double growth to $393 billion in 2012. China is to rank first in global business travels in the world as proposed by GBTA.
However expenses by US in 2012 in business travelling show $262 billion. This will rise to $273 billion this year. Some of the other nations to see the influx in business travelling are India and Canada. Business travelling in India has surpassed Canada. According to GBTA India has the fastest growing market globally.
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