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GDP and business travel going East
2012 Business Travel Trends
"Western" has long been synonymous with economic power, but this label is gradually weakening as the world's most advanced countries face uncertainty at home in contrast with remarkable growth in developing countries, particularly in East Asia. Global economic power is gradually shifting to the East, with Asia Pacific expected to account for 43% of the world's GDP by 2020.
What does this mean for business travel? Travel patterns will evolve, and buyers will find a wider offering from airlines and hoteliers along with more competitive prices on the horizon. However, air capacity and hotel occupancy will not ease noticeably.
Read also the
next key finding:
A mixed outlook for air capacity
