Most Popular Countries For Business Travel
Thanks to modern technology, we now live in a truly global society where people from around the world can work closely with each other.
Almost any business, no matter how small, can operate on a global scale, forming business links and relationships with people on the other side of the world.
This offers huge potential for businesses to boost profits and move into new markets outside of their home country.
This is typified in the business travel statistics from China, which show that business travel amongst the Chinese has risen by an average of 15% every year since 2000.
These figures are set to rise further in the next two years, showing how lucrative the business travel market can be.
The global recession damaged the business travel market somewhat, but there are signs that it is on the road to recovery. But which countries benefit most from business travel?
The UK has long been a popular country for business travel, thanks to the strong global financial links of London.
In the heart of the capital lies ‘the City’, a thriving financial district which houses some of the biggest banks and financial institutions in the world.
This is often referred to as the capital of the financial world, so it’s no surprise that the UK ranks highly for business travel. The UK, along with Germany, Spain, France and Italy, make up 70% of Europe’s total business travel spend.
But it’s not just within Europe that the UK thrives; strong business links with India and growing links with China give it a global reach.
The only country in Europe with a larger business travel market than the UK is Germany, which sits top of the list as Europe’s most popular business travel destination.
Germany, like most other economies around the world, struggled in the aftermath of the global recession. But unlike most other economies, especially those within the eurozone, it was able to weather the storm and come out fighting.
It is for this reason that global businesses are attracted to Germany and its stable economy, which is often seen to be almost singlehandedly holding up the rest of the eurozone.
Business travel to Germany, through services like CT Business Travel, has fallen slightly in recent years, but research indicates that figures will return to growth this year by as much as 5%.
Rio de Janeiro image source www.visitbrasil.com
Since the global recession of 2008, the economies that have shown the most positivity have been in the BRIC nations of Brazil, Russia, India and China.
There have been hiccups along the way, but all have recorded varying degrees of economic growth. China’s economy has fared particularly well, but it is Brazil that has shown signs of sustainable economic development with thriving business hubs in Rio de Janeiro and Sao Paulo.
Brazil, along with other emerging South American nations, has seen a boom in business travel over the last two years.
Between 2011 and 2013, Brazil has seen its business travel market grow by a whopping 21%. With global sporting events on the horizon, and the economic boost they inevitably bring, this growth looks set to continue.