Local differences, rapid growth and the increasing importance of rail are all factors companies must consider when traveling to and doing business in China. In this short video, Jonathan Kao, managing director of BCD Travel’s greater China operations, shares his insights on the region.
Did you know?
China’s economy has been the world’s second-largest since 2009. Companies spend nearly US$327 billion (2.2 trillion Chinese yuan) a year on travel to, from and within China, according to the last-available annual data from 2017. When it comes to air travel, demand is weakening. The slowdown in the Chinese economy may be one factor; China’s gradual liberalization of domestic airfares may be another. Hotel demand is on the rise and is expected to grow 4.4% a year through 2020.
For more on China’s economic profile, read Market Monitor: China at a glance.