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China replaces US as world's biggest business travel market

Chinese business travel spend expected to have grown 10 per cent in 2015 to reach $291.2 billion
22/04/2016

Pictured: The Chinese business travel market is now thought to be the biggest in the world

China’s business travel market has overtaken the United States as the biggest business travel market in the world.


Total Chinese business travel spend in 2015 reached $291.2 billion (£203bn), surpassing the United States' $290.2bn (£203bn). That lead is set to grow considerably in 2016, with the Chinese sector expected to increase 10 per cent to reach $320bn (£223bn), while the US grows 1.9 per cent to $296bn (£207bn).


These were the findings released by Global Business Travel Association (GBTA) in its report GBTA BTI Outlook - China 2016 H1.


GBTA executive director and COO Michael McCormick said: "Despite a relative slowdown, China’s business travel market remains one of the fastest growing in the world.


“China surpassing the United States in business travel spending marks a major inflection point and truly demonstrates the global nature of today’s economy."


GBTA forecasts China's business travel spend growth in 2017 to be 9.8 per cent, which would be the first year of this millennium that the country's growth drops below double digits.


Other findings included business travel spend in China was dominated by domestic business travel, accounting for 95 per cent of total business travel spend.


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