Business travel to grow 3.7% annually until 2027

28 Apr 2017 2044 | World Travel News

The business travel sector will grow by 3.7% per year over the next decade, according to a new report by Travelport released at the World Travel & Tourism Council Global Summit in Bangkok this week.

Bangkok (+35.8 percent to THB2,223.22) reported the largest increase in RevPAR — The WTTC Global Summit is taking place in Bangkok currently

Specifically Asia-Pacific’s business travel sector is expected to grow the fastest, at a predicted rate of 6.2% each year to 2027. The top 10 list of countries with the strongest forecast annual business travel growth to 2027 include, from the APAC region: China (9.5%), Myanmar (8.7%), Hong Kong (8%), Cambodia (7.4%) and India (7.2%). Eight of the top 20 fastest-growing business travel destinations have introduced visa improvements which helps sector growth.

David Scowsill, President & CEO, WTTC, said: “Travel & Tourism generates USD$7.6 trillion in GDP and supports over 292 million jobs. Business travel is a vital part of the sector, and it is a key catalyst for global growth. It drives the relationships, investments, supply chains and logistics that support international trade flows.”