China to be 3rd largest market for business travel
(People's Daily Online)
Updated: 2005-04-14 14:50

American Express Business Travel released the result of its second survey of corporate travel management service in China market on April 13 in Shanghai. The survey has found that China will become the world's third largest market for corporate travel in five years after the fastest growth in the world.

The survey shows that the spending on international business travel by China approximates US$4.2 billion a year, which is 17 percent of the Asian market for business travel. This, plus some US$20 billion spending on the domestic business travel in China, comes to nearly US$25 billion.

The robust growth of China's GDP is very likely to secure a two-digital rise of China's business travel market in the years to come. It is estimated that the number of Chinese business travelers will be 5 times as many as that at present by 2020.

As learned the potential of China market for business travel has caught eye of international travel service providers. Global giants such as American Express, Kar Shun Travel, Rosenbluth have all made their forays in China. Their operation in China are mostly based on joint ventures.

According to China's WTO document, solely foreign funded travel agents will be allowed as of the end of 2005.

Chinese travel companies such as Ctrip, elong, have all launched their business travel services.

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