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China's $344.6 billion business travel market draws global attention

Staff Writer | November 26, 2017
China's business travel market is expanding rapidly, creating opportunities for travel companies worldwide.
China business travel
Traveling   AirPlus International
AirPlus International, a German travel payment company, said its accumulated turnover in China reached over 1 billion euros ($1.2 billion) this month, making China its third largest overseas market.

"China's business travel market, which is the largest in the world, is leading the change in the global travel management industry," said Lucy Wang, managing director of AirPlus International China.

The company allows businesses to pay for employee travel expenses using a centralized corporate account, reducing paperwork and creating cost efficiencies.

China overtook the United States as the top business travel market in the world in 2015, according the Global Business Travel Association (GBTA),

In 2017, Chinese business travel spending is expected to hit $344.6 billion, up 8.4 percent year on year, $51.5 billion more than the estimated U.S. business travel spending, according to the GBTA.

Wang said the fast growth was likely to continue as initiatives such as the Belt and Road Initiative were boosting international demand.