10 Countries That Will See the Most Business Travelers in the Next Decade
During the World Travel & Tourism Council (WTTC) Global Summit in Bangkok this month, WTTC and Travelport revealed that the $1.2 trillion business travel sector is expected to increase by 3.7 percent over the next decade.
China is one region that is supposed to see some of the highest growth with a prediction of 9.5 percent every year. Following closely behind is Rwanda at 8.5 percent and Asia-Pacific at 6.2.
Here are the top 10 countries forecasted for growth in business travel for 2017:
- China, 9.5 percent
- Myanmar, 8.7 percent
- Rwanda, 8.5 percent
- Gabon, 8.5 percent
- Greece, 8.2 percent
- Hong Kong, 8 percent
- Tanzania, 7.9 percent
- Cambodia, 7.4 percent
- Solomon Island, 7.3 percent
- India, 7.2 percent
Business spending has been slowly increasing in many markets around the world. Some notable ones have been Democratic Republic of the Congo and Qatar. A business travel spending statistic shows that between 2011 and 2016, spending in the Congo increased by 32 percent, 25 percent in Qatar and 21 percent in Azerbaijan. Even though these growth rates are exponential, the largest business travel markets are still the U.S., China, the U.K., Germany and Japan.
It’s no coincidence that these 10 countries forecasted for growth in business travel have been growing at such a rapid rate. They have a number of factors contributing to their success. In order to maximize revenue, companies are expanding into new markets and unchartered territories. However, one of the largest and quite frankly the most important factor is technology. More and more technology is revolutionizing the way travelers and travel businesses communicate.
“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,” said Travelport CEO, Gordon Wilson.
