Business travel is expected to grow about 3% annually through 2020
Businesses spent more than US$28 billion (38 billion Singapore dollars) on travel to, from and within Singapore in 2017. Inbound trips consistently account for two-thirds of total spending on business travel; outbound travel makes up 29%. The domestic segment is less than 5% of total spending, and outlays in the local currency remained essentially flat between 2012 and 2017. Industry economists foresee business travel growth of almost 3% annually through 2020, as international travel strengthens. Domestic travel is expected to expand more than 7% per year.
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