Alexandria, VA – China is likely to surpass the U.S. as the world’s most dominant business travel market as early as 2016. In addition, the Beijing Capital International Airport is set to surpass Hartsfield-Jackson airport in Atlanta as the world’s busiest airport next year. That’s according to the most recent outlook for China published by the Global Business Travel Association (GBTA).
China’s total business travel spending is forecast to increase by 14.3% this year to $224 billion with another projected expansion of 17.2% in 2014. International outbound travel from China has a forecasted growth of 12.8% this year with a stronger 16.5% growth in 2014. This year, diminished trade activity to and from China in Europe and North America reduced the demand for long-haul travel below earlier projections.
According to the GBTA report, China is growing its business travel market faster than any other nation as it continues on track to become the largest business travel economy in the world. The growth in business travel spending has come in both the transient and group meetings and events sectors.
To purchase the report, email Paul Yachnes, research library manager at pyachnes@gbtafoundation.org.
Reach Mike McCormick, GBTA executive director & COO at (703) 236-1129 or mmccormick@gbta.org.
