China’s total business travel spend is projected to grow 15.9 percent in 2014 to $262 billion and another 18 percent in 2015, according to a Global Business Travel Association (GBTA) Foundation report. As previously forecast, China is poised to overtake the United States as the number one business travel market in the world. Given GBTA’s current projected growth in business travel in the two markets, it expects China to surpass the United States in spending by 2016. GBTA also expects China will see a continuation of robust domestic growth in 2014 and 2015, growing 16 and 18 percent respectively. International outbound travel spending in China is forecast to grow 16 percent in 2014 and an additional 19 percent in 2015 to $13.4 billion. Read the full release over at GBTA.
