As the economic ties between countries were strengthening, work travel was on the rise for many years before the COVID-19 pandemic. China overtook the United States as the top business travel market in 2017, contributing some 346 billion U.S. dollars of
, which was a quarter of the global sum. Part of the growth has been driven by the
(BRI), a long-term economic project linking China with over 100 countries through trading and investment on infrastructure, transportation, and energy.
After the pandemic, China’s business travel market rebounded with an impressive expenditure growth of more than 30 percent thanks to a recovery of the domestic corporate travel. Clearly, China is expanding its footprint in the global business arena, and international business travel management companies (TMC) are eager to grab a slice of this lucrative market.
Business travel management
Managed business travel in China was never as mature as in other markets. Flight tickets and hotel reservations accounted for the major market transaction share. The growing market has attracted online travel agencies and portals to enter the battlefield, making travel planning and booking especially convenient for small and medium-sized enterprises (SME). A large majority of businesses
used mobile apps for travel bookings both pre-pandemic and later. To compete with the online platforms, more TMCs have developed a one-stop service with smart cost control systems. As of 2023, the travel management sector remains highly competitive with top five companies taking up around 20 percent of the market. It suffices to say the sector still has plenty room to grow in China.
Trade exhibitions
Apart from corporate travel, the Chinese exhibition sector was in constant growth before 2020, in both domestic and overseas regions. Ever since 2012, the
number of trade exhibitions in China was increasing by at least several hundred each year. In 2019, over 11 thousand trade exhibitions were held in 292 exhibition venues, with another 24
venues under construction. In terms of exhibition space, Shanghai and Guangzhou cities have always been the
leading trade show hosts in the country. Chinese companies have set up their footage in international exhibitions, too. In 2019, organizers from China held a total of 137
trade exhibitions in other countries. This number has dropped drastically during the COVID-19 pandemic and recovered only slightly as of 2022.
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