China has surpassed the U.S. in the amount of money spent on business travel, and industries ranging from planemakers to hotels to luggage companies are clamoring for a foothold in the massive new market.
In 2015, business travel spending by the Chinese reached $291.2 billion compared with the $290.2 billion spent by their American counterparts, according to a report from the Global Business Travel Association.
Travel spending by Chinese companies is likely to continue rising this year, increasing 10.1% to $320.7 billion vs. the 1.9% uptick to $295.7 billion spent by U.S. companies.
Keywords
building your clientele business opportunities business travel China operators client markets corporate travel international business
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