In Asian, African and European Countries, the business of business travel is booming in emerging countries. Istanbul, ancient capital of empires, is with success refashioning itself as a contemporary transportation hub with higher connections to Asia than rivals within the us or Europe. And Brazil, a rising oil power, is gushing billions into infrastructure because it prepares to host the soccer World Cup next year and also the Olympic Games in 2016.
Businessmen are expected to spend about $1.16 trillion on airfare, accommodations and other travel this year, according to the Global Business Travel Association, up from $1.07 trillion last year. Much of that growth is returning from developing nations, prompting a boom in new construction in rising markets whereas business travel within the USA recovers at a slow pace and Europe, encumbered within the monetary unit crisis, remains stagnant.
The growth in passenger travel tells the story. Worldwide traffic increase 4% last year, according to the Airports council international, a trade group that represents more than 1,700 airports in 170 countries. In North America and Europe, airports had tremendous gains. Air transportation in emerging economies has been floaty.
Traffic in previous year increase by 7.5% in Asia, 7.3% in Latin America, 6.4% in African countries and 13% in the Middle East, according to the airport trade group, outpacing Western airports by a good margin. 5 airports in rising markets, every with over forty million annual passengers, rumored double-digit growth city, Dubai, Jakarta, Bangkok and Singapore consistent with a report free last month by the field cluster.
China’s business emerging spending has growth an average of 15.5% each year from 2000 to 2013 and is set to reach $226 billion this year, the worldwide business Travel association. Unusually, that figure is growing when China’s export-led economy begins to block and build the transition to a consumer-oriented one.