China will top business travel league

SINGAPORE  Global business travel spend is expected to reach a record USD1.18 trillion by 2014, with nearly 40% coming from Asia Pacific.
This is according to the Global Business Travel Association, which released latest figures from its Business Travel Index (outlook report at the opening session of ITB Asia Wednesday.
The three-day travel trade event kicked-off tat the Sands Expo and Convention Centre, Marina Bay Sands, with a keynote presentation by GBTA’s vice president operations Asia Pacific, Welf Ebeling.
Inside1GBTA data suggests China will overtake the USA as the top generator of business travel worldwide by 2016.It already represented USD224 billion in revenue in 2013 and is growing by 11 to 14% a year, the business travel association executive concluded.
ITB Asia, which is now in its seventh year, has 750 exhibitors and around 800 buyers. The show has seen strong support from the business travel segment and an increase in international representation with exhibitors from 76 countries and regions.
Exhibitors showing a strong presence this year include Spain Tourism Board, Brand USA as well as the Philippines Tourism Board and Indonesia’s flag carrier, Garuda Indonesia, both of which have increased booth space by 200% and 300% respectively.
This year also sees the strongest buyer participation to-date, with 14% more buyers compared to 2013 giving a much better ratio between sellers and buyers than in previous shows.
“The evolution of the business travel sector in Asia Pacific is leading key industry players from across the world to focus more intensely on this market.
“At ITB Asia, we hope to leverage this strong growth and maintain our position as the region’s main marketplace for business travel opportunities,” said show organser Messe Berlin CEO, Christian Göke.
“The MICE sector in particular is growing exceptionally, accounting for over half of the total business travel market. It is a very resilient segment that is outpacing traditional corporate travel. ITB Asia aims to deliver pertinent insights on these key industry opportunities to help delegates leverage the potential,” added Göke.
Commenting on the role of ITB Asia Singapore Tourism Board assistant chief executive, Neeta Lachmandas said: “The dramatic progress of Asia’s travel and tourism markets, fuelled by the rising BRIC economies, testifies once again to the region’s immense potential for growth. Now, more so than ever, we need to encourage greater strategic collaboration among the leaders of the industry.
“Over the years, ITB Asia has been incredibly valuable in delivering comprehensive market insights and important networking opportunities.
We are confident that STB’s partnership with Messe Berlin will continue to boost the success of ITB Asia and anchor TravelRave’s status as the region’s premier travel and tourism week for the trade.”
During the three show days, around 8000 travel executives from 90 countries will network and negotiate business. In addition there are 4,080 minutes of conference sessions, making this year’s programme the most comprehensive to-date.
ITB Asia 2014 is taking place at the Sands Expo and Convention Centre, Marina Bay Sands until 31 October. Organised by Messe Berlin (Singapore) Pte Ltd the event is supported by the Singapore Exhibition & Convention Bureau.

sourced:ttrweekly.com