Chinese corporate travel set to surge
Print Edition
THE Chinese corporate travel market revenue will surge to 200 billion yuan (US$31.3 billion) in 2018, double the level of last year, because Chinese firms are seeking overseas opportunities to offset the weak home economy, industry officials told an industry forum yesterday.
National policies such as the “One Belt, One Road” initiative will also boost demand for other destinations, speakers told the 2015 Asia-Pacific Corporate Travel Summit.
“The market is expected to grow because of diversified demand and national policies such as ‘One Belt, One Road,’” said Fang Jiqin, vice president of Ctrip, which ranks first in the domestic market with more than 5,000 enterprise clients.
In 2015, China’s corporate travel market revenue may grow 15.6 percent annually, slightly below the 2014 growth rate. But the revenue will surge to 200 billion yuan in 2018 amid a stable economy and booming demand, said iResearch, a Shanghai-based consulting firm.
Energy and high-technology firms, including Lenovo Group Ltd and Huawei Technologies, are accelerating their international expansion, according to analysts.
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