Chinese business travel expenditure sees steep rise in 2010

Chinese business travel expenditure sees steep rise in 2010

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Asia Bizz: After a decline of Chinese business travelers during China’s period of recession, 2010 saw a drastic jump in the numbers of business executives taking to air travel. But the down side is the increasing inflation in the Asian country, which is forcing people to cut costs as far as accommodation and transportation is concerned.

The Chinese economy saw an increase in the GDP of 10.3 percent in 2010, and this is one of the leading factors for the sudden surge in business travel.

This is backed up by stats released by the World Travel and Tourism Council, which states that the travel expenditure of Chinese business people leaped from $18 billion in 2000 to a shocking $62 billion in 2010. In the first quarter of 2011 itself, there has been a rise of around 9% in business travel across the globe.

The financial markets across Asia fluctuated drastically as a result of several factors, but growing inflation continues to be a pain not only to the common man in China, but also to business travelers who are forced to cut costs in every possible way; and this has seen the entry of professional cost-control services to stand guard against inflation.