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Global business travel spending is expected to grow 9.2% and reach USD 317.9 billion this year. Another 8.4% increase is expected to bring China's business travel spend to USD 344.6 billion in 2017, according to the "GBTA BTI Outlook – China 2016 H2" report. By comparison, US business travel spending is expected to reach USD 293.1 billion in 2017, a USD 51.5 billion difference, further solidifying China’s new-found position as the largest business travel market in the world. “China accounts for nearly 25% of global business travel spending, up dramatically from a 5% share in 2000, demonstrating the truly global nature of today’s economy,” said Michael W. McCormick, GBTA's executive director and COO.
Additional key findings include: * Domestic travel comprises over 95% of spending on total business travel in China. GBTA expects growth in domestic business trip spend to fall to 9.2% this year and 8.6% in 2017. |
