Business travel is continuing to change and evolve as technology has a positive impact on the worlds connectivity. Companies are seeking to be innovative market leaders embracing technology first, connecting with new contacts and seeking new markets for their products and services.
Research conducted by the Global Business Travel Association – Education and Research arm suggests business travel spend is likely to increase significantly. Business travel spends in 2015 reached an impressive $1.2 Trillion. Despite economic challenges, as a result of the direct impact of business success relating to global business travel, the Global Business Travel Association predict business travel spend will reach $1.6 Trillion within just 4 years (2020).
In 2015 China overtook the US and is now the world’s largest business travel market with a total travel worth of $291 Billion. Countries spending the most on business travel include United States, Germany, Japan, United Kingdom and France.
Frequently travel for business? With our annual travel insurance policy, you can cover a whole year’s business trips for just one price. Click here for more information on a Questor Insurance travel policy or contact us on 0333 323 0090 to speak to a member of the team.
ITIJ -International Travel & Health insurance professionals September 2016 issue 188
Date Created: 05/10/2016