WTTC Report Shows Business Travel is Booming

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The World Travel & Tourism Council (WTTC) has released its 2017 Global Economic Impact Report, and it makes for some interesting reading. The report reveals that the international business travel sector is expected to increase by a healthy 3.7 percent per year over the next 10 years. This report, which was released to great fanfare at the WTTC Global Summit in Bangkok, has cast the spotlight on some of the fastest growing business travel regions, all of which are expected to be the major winners in the business travel stakes. These areas include China with 9.5% growth, Myanmar with 8.7% growth, Rwanda and Gabon with 8.5% growth respectively, Hong Kong with 8% growth, Tanzania with 7.9% growth, Cambodia with 7.4% growth and India with 7.2% growth.

Big 5 Remain the Largest Business Travel Markets

Unsurprisingly, currently the “Big 5” business destinations remain the United States, China, the UK, Germany and Japan, all of which have introduced visa improvements to help promote ease of travel and in turn economic growth. This economic growth is staggering when viewed in numbers, with travel and tourism generating upwards of USD$7 trillion in GDP, all of which has helped to create and sustain more than 292 million jobs across the globe. As one would expect, business travel has proven to be a vital part of the travel industry, and is a major force behind global growth. This is because business travel drives interpersonal relationships, creates investment opportunities, and improves supply chain logistics, all of which help to support and maintain international trade flows.

Read the WTTC Global Economic Impact Report

For your convenience, we’ve supplied a direct link to the World Travel & Tourism Council Global Economic Impact Reports here. This report highlights a number of interesting facts, including:

  • 1 in every 10 of the world’s jobs in 2016 was travel related
  • For the 6th year running travel and tourism outpaced the global economy
  • The travel and tourism industry generated $7.6 trillion worldwide in 2016

Got More Business Travel Questions?

Then please don’t hesitate to contact our qualified business travel experts at TravelManor. We’re waiting to assist you in any way that we can, so contact our offices in Cape Town on +27 21 555 2829 today!

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