|December 12, 2013|
China To Surpass U.S. In Business Travel Spending By 2016
|With China slowly but surely displacing the United States for top spots in many aspects, from the biggest outbound travel country, biggest auto manufacturer to biggest consumer of oil to name a few, another likely top position to be overtaken by China looks to be business travel spending.|
According to trade group Global Business Travel Association, business travel from China is expected to jump 14% in 2013 and 17% next year. Based on this trajectory, the country will outspend the U.S. by 2016.
With the growth in travel in and out of the China, the Beijing International Airport is expected to surpass Hartsfield-Jackson Atlanta International Airport as the world's busiest airport. In fact, the demand for air travel from China is expected to grow so fast in the next few years that several of China's airports have had to double or triple their capacity and the nation plans to build about 100 new airports over the next decade, said Joe Bates, vice president of research at GBTA.
The GBTA report also predicts that robust growth in developing countries throughout Asia and Latin America will "permanently" reshape the travel landscape. The majority of the travel traffic is predicted to stay in their respective regions.
The world's top five business travel regions at a glance
Country / Amount ($billion USD) / YoY Growth