Report predicts fastest growing business travel markets
The business Travel sector is set to grow by 3.7% per year over the next decade, according to a new report by Travelport and the World Travel & Tourism Council.
It predicts Asia-Pacific will see the largest growth rate of 6.2% each year until 2027.
China will lead the way with 9.5% annual growth, followed by Myanmar (8.7%), Hong Kong (8%), Cambodia (7.4%) and India (7.2%)
In Africa, Rwanda and Gabon (both 8.5%) will lead the way, following by Tanzania at 7.9%.
In the past five years business travel spending has advanced rapidly in many emerging markets, says the report.
In the DR Congo it rose by 32% between 2011-2016,Qatar at 25%, Azerbaijan at 21%, and Mozambique at 19% over the same period.
The report highlights that eight of the top 20 fastest growing business travel destinations have introduced visa improvements which helps sector growth and economic growth.
The largest business travel markets overall are the USA, China, the UK, Germany and Japan.
Travelport CEO Gordon Wilson said: "Every day we see business travel growing at a significant rate in many emerging markets with technology playing an in increasingly important role in easing the way for those on trips for their work.
"As an industry we need to continue to invest in the best technologies and infrastructure whilst governments need to be more business-friendly by removing burdensome visa requirements."
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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