Survey predicts travel spending increase
Print Edition
Forty-five percent of Chinese companies expect business travel spending to increase over the next 12 months, according to 2018 China Business Travel Survey released by the CITS American Express Global Business Travel in Shanghai.
The portion of business travel expenditure allocated to domestic trips has increased by 18 percent, compared with last year’s survey.
This indicates that the level of business activity within tier-wo and tier-three cities in Chinese mainland is rising.
The survey also revealed that cost savings (62 percent) and compliance (57 percent) are the top priorities for the travel programs of Chinese companies, whereas safety and security has slightly dropped from the top priority in 2017.
Despite volatility and uncertainty in the global economy, the outlook reported by Chinese companies is one of the strongest indicators of corporate confidence that has been reported by the survey since its launch 14 years ago, according to the survey.
“Travel managers now need to ensure travel programs and policies adequately cover the needs of travelers and companies in these new geographies,” said Kevin Tan, vice president of CITS American Express Global Business Travel.
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