According to relevant data of iResearch, the transaction size of the Chinese corporate travel management market exceeded RMB 100 billion in 2014, an increase of 17.2% over 2013. Due to the influence of the soft landing of the economy, 2015 has seen a slow growth, which is expected to be 15.6%.
SHANGHAI – On August 18, the first Asia-Pacific Corporate Travel Summit was held in Shanghai. More than 400 guests from airlines, hotels, corporate travel industrial chains and other industries attended the Summit. Focusing on the theme of “Together Merge Cooperate”, the guests had in-depth analysis and discussion regarding the current Chinese corporate travel management market. The Summit was hosted by Ctrip Corporate Travel (a leading travel management company in China ), and supported by Concur (a travel expense management solution provider), Airplus (a corporate travel payment solution provider), Emirates, Qatar Airways, Etihad Airways, Starwood Hotels & Resorts, and other international well-known enterprises.
According to relevant data of iResearch, the transaction size of the Chinese corporate travel management market exceeded RMB 100 billion in 2014, an increase of 17.2% over 2013. Due to the influence of the soft landing of the economy, 2015 has seen a slow growth, which is expected to be 15.6%. As China’s economy will be gradually stabilized in 2016, it is expected that from 2017, the Chinese corporate travel management market will regain its rapid growth, and the market size is expected to exceed RMB 200 billion in 2018.
At the Summit, Fang Jiqin, Vice President of Ctrip and CEO of Ctrip Corporate Travel, stated that the development of the Chinese travel management industry should always center on the theme of “Together Merge Cooperate”. As more and more Chinese companies begin to understand the notion of travel management, its value and importance are increasingly concerned and recognized. Chinese companies are switching their attention from cost savings to a more advanced, standardized and transparent management system. In response to the national strategy of the “One Belt, One Road Initiatives”, more and more Chinese companies are seeking opportunities overseas while foreign companies are establishing their presence in China. The merging and cooperation of Chinese and foreign travel management markets are in progress. Under the general background of informatization and Internet orientation, worldwide “merging” and “cooperation” in multiple industrial chains are inevitable trends of future development.
Corporate travel management has had a history of more than one hundred years in developed countries. Since 2000 when China joined the WTO, “corporate travel management” has entered China together with foreign-funded companies. Corporate travel management refers to an activity of overall planning and comprehensive monitoring of travel activities with the help of a professional travel management service team, for the purpose of optimizing travel management processes and policies as well as conducting overall procurement of resources, thus reducing travel costs and improving the efficiency of travel without affecting business operation and travel experience. In the western advanced enterprise management system, corporate travel management is an important link that cannot be ignored. It not only can save enterprise costs effectively but also is closely related to the management of employees’ daily behaviors.
Fang also expressed that, since entering the corporate travel market in 2006, Ctrip has constantly absorbed and integrated international travel management ideas, and improved its global vision and international service ability in terms of all aspects of products, technologies and services. Ctrip Corporate Travel has also actively cooperated with global providers of finance, data, office, safety and rescue services and sought to integrate as an important part of the overall operation management of corporate customers.
Hou Wentai, Managing Director of Concur Asia, said that corporate travel expenses and related fees have become a part of expenditure growth management for China and other regions in the world. Nowadays, the changing business environment forces companies to reach a consensus with suppliers, in order to ensure that the companies have the capability of efficient management of travel and expenses.
During the section of discussion, senior executives and representatives from airlines, hotels and partners had in-depth discussion on two topics of the Difference between and Integration of Overseas and Chinese Travel Management Markets and the Corporate Travel Service Experience and Quality.
In the Summit, the third party research agency iResearch issued the Report on Development Trends of the Chinese Corporate Travel Management Market in 2015 , analyzing and predicting the present situations and trends of the Chinese travel management market. Such cooperative partners as Fxauto, China Overseas Property, Sinodis, Mars and Yihaodian also attended the Summit.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
