1. Text: | Print|

      China seen replacing US in 2016 as leading business travel market

      2013-08-08 09:01 China Daily Web Editor: qindexing
      1

      Aided by an increase in business-travel spending, the United States will keep its title as the world's leading corporate travel market until 2016 - then China will take over the top spot, according to a report from a travel trade group.

      China is "moving toward global dominance of the business-travel market," the United States-based Global Business Travel Association said in its 2013 annual global outlook.

      In 2012, the association said that China would surpass the US by 2015 as the world's largest business-travel market, but in its latest report issued on Tuesday it issued a revised forecast based on what it said was "steady" growth in US business-travel spending despite a "shaky" economic recovery. It projected a 4.2 percent rise in US business-travel spending this year to $273 billion, and that means a delay in China overtaking the US by at least a year, according to the association.

      China logged $196 billion in business-travel spending last year, up 13.2 percent from 2011, and a fivefold increase from the $32 billion of 2000, according to the report. The US market saw $262 billion in spending in 2012, a 4.4 percent rise. The report estimates that China's "meteoric growth" will continue, doubling to $375 billion by 2017.

      China's outpacing of the US in global business-travel spending would mark the latest installment of a changing of the guard that has so far included China eclipsing the US as the world's largest automotive market in 2009, and overtaking the US as the world's biggest art market in 2011, although it recently slipped back into the No 2 spot in the art world amid the slowing Chinese economy. China is also widely expected to displace the US as the world's largest economy by the end of this decade.

      "With stalled growth in the developed world but economic expansion approaching or exceeding double digits in many emerging economies, the business-travel landscape is set to change significantly over the next five years," the association said. "Rapidly growing markets like China, India and Brazil are in prime position to become major global players in business travel."

      The Alexandria, Virginia-based association has 5,700 members with more than $340 billion of global business travel under management. The association's outlook predicts business-travel trends over the next year by analyzing total business-travel volume and spending, projections of changes in costs and other factors across 75 countries and 48 industries.

      The new report forecasts global business-travel spending this year will increase 5.4 percent from last year to $1.12 trillion, reflecting the onset of a more stable spending environment following a year of economic and political uncertainty. As travel spending remains steady during the second half of the year, next year is expected to see 8.2 percent growth. It will be followed by increases of 7.6 percent in 2015, 7.2 percent in 2016 and 7.1 percent in 2017, according to the association.

      The report also said that "the worst in Europe is over" and predicted that business-travel spending in Western Europe's markets will rebound in the next five years. Amid a recession that "severely hampered" European business travel, related spending in Europe last year came to $260 billion.

      The report sees China business-travel spending increasing 15 percent this year, followed by 16.8 percent in 2014, 13.6 percent in 2015, 12.3 percent in 2016 and 11.5 percent in 2017. By comparison, the US is seen achieving growth of 4.5 percent this year, 5.9 percent in 2014, 4.2 percent in 2015, 3.2 percent in 2016 and 3.3 percent in 2017. The UK market is expected to increase 1.9 percent this year, 3.7 percent in 2014, 8.1 percent in 2015, 7.5 percent in 2016 and 7.9 percent in 2017.

      Comments (0)
      Most popular in 24h
        Archived Content
      Media partners:

      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 亚洲色偷偷狠狠综合网| 日韩av无码免费播放| 精品亚洲成A人无码成A在线观看| 曰韩无码AV片免费播放不卡 | 在线看片免费人成视频久网下载 | 2022年亚洲午夜一区二区福利| 亚洲AV无码一区二区三区DV | 色影音免费色资源| 久久久久亚洲Av无码专| 最近中文字幕免费完整| 久久久久亚洲av无码专区 | 国产猛烈高潮尖叫视频免费| 亚洲国产精品一区二区九九| 色噜噜狠狠色综合免费视频| 免费人成视网站在线观看不卡| 羞羞视频在线免费观看| 久99精品视频在线观看婷亚洲片国产一区一级在线 | 亚洲AV无码精品国产成人| 久久国产精品一区免费下载| 水蜜桃亚洲一二三四在线 | 色婷婷亚洲一区二区三区| 国产区卡一卡二卡三乱码免费| 在线亚洲v日韩v| 伊人久久精品亚洲午夜| 午夜免费啪视频在线观看| 亚洲国产精品白丝在线观看| 噜噜嘿在线视频免费观看| 一级特黄录像免费播放中文版| 女人与禽交视频免费看| 特级毛片全部免费播放a一级| 亚洲熟妇中文字幕五十中出| www成人免费视频| 亚洲国产精品一区二区久久| 91手机看片国产永久免费| 久久精品国产亚洲av品善| 亚洲中文字幕在线第六区| 91av免费观看| 免费人人潮人人爽一区二区| 久久亚洲私人国产精品vA| 在线免费观看一级毛片| 在线观看免费视频一区|