Why business travel matters more than ever in Asia
The second day of ITB Asia’s conference panel kicked off with the Business Travel Plenary session. Adam Sacks, Managing Director of Tourism Economics, presented key research findings commissioned by the World Travel & Tourism Council (WTTC) on the economic impact of business travel (BT) in Asia Pacific.
The research sought answers to two main issues: what role business travel plays in driving corporate performance in the development of the global economy and if this is more or less true in Asia than the rest of the world.
The main conclusions to draw from the study are:
• BT and economic performance are interlinked
• Sales, customer retention, partnerships, and innovation all benefit from investments in BT
• BT is particularly effective at driving international trade, which yields broad economic benefits
• Among world regions, Asian companies and economies generate the highest ROI per dollar invested in BT
• Asia is most susceptible to reductions in BT