China to overtake U.S. as world's top business travel destination

by Frances Cha

China's travel business tycoons will be rubbing their hands in glee over the findings of a new industry report.

China will beat out the United States to top the business travel market as early as 2013, according to a report by the Global Business Travel Association (GBTA), a business travel and corporate meetings organization based out of the U.S. state of Virginia.

The organization predicts that business travel spending in China will increase by 17 percent this year and 21 percent in 2013, bringing spending to US$202 billion and US$245 billion respectively.

Business travel spending in the United States is expected to reach US$233 billion by 2013.

Significant growth  

"We forecast significant increases in business travel by Chinese citizens over the next two years with at least two-thirds of the growth being real increases in trips and spending as opposed to rising travel prices," said GBTA executive director Michael W. McCormick in a press statement.

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