According to a report released at the 2023 GBTA APAC Conference held in Singapore, business travel in Asia Pacific is expected to see significant growth beyond 2023. Spending is forecast to increase by 41%, to $567 billion this year, and rise to $800 billion by 2027. China’s reopening and strong domestic demand are expected to be significant factors in the growth. Other major economies in the region, such as Japan, South Korea, and Australia, are also expected to rebound. The report also showed that while Asia Pacific business travelers spend less per trip overall than North American travelers, they tend to spend more on food and beverage, hotel expenses, and premium options. More than 600 attendees from 17 countries gathered at the conference to learn and network across both conferences, with GBTA announcing the third APAC Conference to be held in Singapore in 2024.
