Asia Pacific to Regain 92% of Its 2019 Business Travel This Year
Skift Take
- The GBTA Business Travel Outlook shows Asia Pacific is forecast for significant growth, with travel spending gaining 41% to US$567 billion this year.
- Trip.com said outbound travel order for the upcoming Golden Week increased nearly 20 times, and domestic travel increased more than four times over the Golden Week period last year.
- Accor announced their Novotel brand’s fiftieth hotel opening in Greater Chinawith its newest destination, Novotel Xi’an Aden.
The GBTA Business Travel Outlook shows Asia Pacific is forecast for significant growth, with travel spending gaining 41% to US$567 billion this year, rising to $800 billion by 2027. China’s reopening will be a big catalyst for the growth, while a solid rebound is also anticipated for Japan, South Korea, and Australia, along with the return of international business travel, which is anticipated to boost Singapore, Hong Kong, and Malaysia. Today’s business traveler in APAC may spend less overall per business trip but may index higher on food and beverage and hotel expenses as well as the desire for more premium options and bleisure travel than their corporate travelers in other global regions. This year, according to the survey, the Asia Pacific region is expected to reach 92% of its 2019 business travel spending of $616 million.
Trip.com said outbound travel order for the upcoming Golden Week increased nearly 20 times, and domestic travel increased more than four times over the Golden Week period last year. Popular countries for outbound travel include Thailand, South Korea, Malaysia, Singapore, Australia and the United Kingdom. Uzbekistan, Azerbaijan, Georgia, Sri Lanka and Kenya are some of the countries experiencing the highest increase in group tour orders compared with the same period prior to the pandemic. Trip.com said the volume of five-star bookings for the Golden Week period has surged compare
