Travel management companies buckle down for an expanding market

By Yan Yiqi

Buoyed by the growing business travel market in China, international travel management companies and other industry players, such as airlines and hotels, are now looking to team up with Chinese companies where travel management is not yet popular.

According to the annual China Business Travel Barometer survey released by American Express in November, travel budgets have continued to increase among the 286 companies it surveyed.

The poll shows that 46.5 percent of the companies surveyed increased their annual business travel budgets by 6 percent.

“We are optimistic about the future of the business travel market in China,” says Marco Pellizzer, general manager of CITS American Express Global Business Travel.

China, with $158.5 billion (118.5 billion euros) spending on business travel last year, is now the second largest business travel market after the United States, according to American Express. The company also predicts that China will surpass the US in 2015 with $309 billion in business travel expenditure.

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