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07 - 13 May
2016
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From
the CEO OF EMIS
An interesting indicator of the pace of change in emerging markets is how much is being spent on business travel. Just last month, the Global Business Travel Association reported that, for the first time, China had overtaken the United States in business travel spending. That in itself is a startling fact but the projected growth in spend for China and other emerging markets is perhaps more remarkable. This year, business travel spend in China is forecast to grow by over 10% compared to just 2% in the US.
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India is looking at a similar growth rate and even depressed markets like Russia and Brazil are likely to see growth of around 6%..
Business travel spend in China is dominated by domestic trips. This is undoubtedly aided by the huge investment in infrastructure that includes a plan to build 82 new airports in the country. India is planning to invest US$120bn in airport infrastructure over the next decade. Anyone who has travelled in eastern Asia in particular will testify as to how well the experience compares with supposedly developed countries where major investment is needed to upgrade outdated and congested facilities.
One more area, then, where leading emerging markets are overtaking their developed counterparts.
Best
wishes,
Guy Dunn
Chief Executive
Officer
Here are a few articles I came across on the EMIS service this week related to the travel market:
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Infographic
of the week
The appetite of Mexico’s food and beverages sector has been steadily growing over 2010-2015, with its value added expanding at a CAGR of 2%. The country boasts the third largest food and beverage industry in the Americas region and accumulated a constant trade surplus of USD 2.33bn in 2015.
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EMIS
Insights and reports
Here
are two of our own exclusive industry insights from EMIS' team of
highly experienced, locally-based analysts. EMIS Insights deliver the
most relevant industry news, data and research from over 25 sectors in
21 countries.
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Weekly
News summary
Below
are the most read articles in the past week on EMIS
Perspectives, our daily blog of
emerging market news and insights.
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