With the growing number of the middle class, China’s outbound travel spend will be near twice the amount of the U.S. ($134 billion), reaching $255.4 billion by 2025 according to a joint survey by Visa and Oxford Economics.
GBTA expects China to continue to grow its domestic business travel market much more rapidly than the other countries in the world with estimated spending growth of 14.2% in 2015 and 12.1% in 2016. China is poised to overtake the U.S. as the number one business travel market in the world.
Business travel in Asia Pacific, led by a dominant China, outpaces the rest of the world, according to a newly released travel forecast by the GBTA Foundation. Driven by infrastructure investments, exports and service development, business travel spending in China has grown from US$32 billion in 2000 to US$225 billion in 2013, an average of […]