Asia identified as prime driver in future business travel growth

10 Apr 2014

A new report from Amadeus and Oxford Economics has identified Asia as one of the prime drivers for future growth in the global leisure and business travel industry.

Titled Shaping the Future of Travel: Macro trends driving industry growth over the next decade, the report stated global overnight visitor flows will increase by 5.4 per cent per annum in the next ten years. Asia-Pacific, the Middle East and Africa are expected to see the fastest growth in overnight visitors.

The Asia-Pacific region will also see some of the biggest growth in outbound travel spending. North East Asia alone is predicted to account for 42 per cent of the global growth in outbound business travel expenditure and South East Asia will contribute 13 per cent.

European and North American travellers are expected to become less important in the global scheme but between them, will still account for one third of all outbound business travel activities.

In total, European business travellers will contribute to approximately 15 per cent of future revenue growth around the globe and North America will account for 7 per cent.

As the Asia-Pacific travel market continues to strengthen, it is anticipated hotels will respond by modifying their services, room and hotel facilities to fit the needs of Asian travellers.