Journal & Article / ASIAN BUSINESS TRAVELLERS: FIVE THINGS YOU NEED TO KNOW

ASIAN BUSINESS TRAVELLERS: FIVE THINGS YOU NEED TO KNOW

By McKinsey Insights
Publish Date 30/05/2018

Asia is the world’s biggest market for business travel, accounting for 38 percent of about $1 trillion in annual spending.  And in the next few years, its importance will only grow, as the market is expected to expand four times as quickly as the North American market and more than twice as fast as the European market.

With Asia’s position growing, the industry must work harder to understand the needs of the Asian business traveler. To help get a clear picture of the needs of this important segment, the survey is established  more than 2,500 business travelers in China, India, Indonesia, Japan, and Singapore and interviewed 19 corporate-travel managers in various industries in the region. In addition, the researcher analyzed the booking and spending patterns of Asia’s business travelers, using data provided by Amadeus and Visa.

The study underscored nuances that must be addressed to gain these travelers’ business. Three stand out. First, Asia’s business travelers are gaining greater autonomy in their travel decisions, making it critical to address their preferences, not just those of their employers. Second, they value convenience above all else. And finally, Asia’s business travelers can be divided into four archetypes, each with its own distinct set of needs and preferences.
 





 
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