Among countries that are climbing ranks is India. “Over the last 15 years, India has worked its way up from the number 24 in 2000, to ranking 10th in 2013 and GBTA expects India will continue to move up in the rankings and could become the ninth largest market in the next five years," predicts Ebeling.
ITB Asia’s keynote focused on global business travel spend which will rise to a record US$1.18 trillion by 2014 with 40% coming from Asia Pacific. This is according to the Global Business Travel Association (GBTA).
The association expects China to surpass the United States by 2016” explained Welf J Ebeling, VP, Operations, Asia Pacfic GBTA. China, starting with a mere 34 billion (USD) in the year 2000, has now grown to “223 billion (USD) at the end of 2013 and is set to increase by another 15% by the end of this year.
Among countries that are climbing ranks is India. “Over the last 15 years, India has worked its way up from the number 24 in 2000, to ranking 10th in 2013 and GBTA expects India will continue to move up in the rankings and could become the ninth largest market in the next five years,” predicts Ebeling.
However despite the growing numbers, lack of infrastructure is one of the greatest hurdles faced not only by India but by countries worldwide. Brazil too has not managed to boost revenue despite its improvement in infrastructure for the World Cup. Ebeling states that countries must develop infrastructure that keep up with the demands and needs of the traveller to fully appreciate this expanding market.