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Corporate travel management market expected to rise 20% annually
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CHINA’S corporate travel management market will increase 20 percent annually in the next five years to reach 200 billion yuan in 2017, according to HRS, an online business travel management firm.
The domestic corporate travel market is expected to overtake the United States and become the world’s biggest next year, Hotel Reservation Service said.
Income from corporate travel management will increase to over 15 billion yuan in 2017 and 22 billion yuan in 2020, said Kimi Jiang, managing director of HRS China.
According to the World Travel and Tourism Council, the expenditure of mainland business travelers was US$18 billion in 2000, but surged to US$62 billion in 2010.
Shanghai remains China’s biggest business travel market, followed by Beijing and Guangzhou.
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