China on track to be World's Leader by 2015

China on track to be Business Travel Spending Leader by 2015


18 September 2014
China could overtake the United States as the world's largest business travel market as early as 2015, according to a report published by the Global Business Travel Association.

Spend of business travel originating in China increased by 15.1 percent year over year in 2013 to £225 billion, the report indicated. It projected business travel spending to increase by 16.5 percent this year and by an additional 17.8 percent, to £309 billion, in 2015.

Already the second-largest business travel market in the world, China has been closing the spending gap which separates itself and the United States. That difference dropped from £66 billion in 2012 to £47 billion in 2013, and projections from both markets show China could overtake the United States by 2015.

Meanwhile, growth in outbound international business travel from China has been "relatively tepid," according to the report.

Projected growth for worldwide business travel will remain at about 15 percent this year and suggested improving economic conditions in Europe could help boost that rate even more in 2015.
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