Study Projects Chinese Business Travel Spending to Double by 2025
It's not a matter of if, but when China will surpass the U.S. as the world's top spender on business travel.
A new study of the Asia-Pacific market conducted by travel industry technology provider Amadeus in partnership with growth consulting firm Frost & Sullivan reveals that China's annual spending on business travel is expected to double over the next 10 years.
According to Laura Zhou of the South China Morning Post, China currently spends $250 billion annually on corporate travel, but by the year 2025 the figure is projected to surpass $500 billion.
As Zhou notes, Amadeus' research reinforces previous estimates by the Global Business Travel Association, which has China's corporate travel spending on a similar trajectory.
China's anticipated ascent to No. 1 ahead of the U.S. will also have a significant impact on the entire Asia-Pacific region, with Amadeus' study projecting the region's annual spending on business travel to more than double over the next decade from $400 billion to $900 billion by 2025.
For perspective, the latter figure would comprise half of the global total.
The study goes on to highlight booming trade as a catalyst for the growing business travel market in the region and forecasts a shift from spending in traditional markets like Australia and Japan to emerging markets that include the world's two most populous countries in China and India, as well as a handful of Southeast Asian countries.
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