The Association of Corporate Travel Executives (ACTE) Asia-Pacific Education Conference in Singapore, 22-23 August 2007, is predicted to host over 30 leading business travel executives from the…
The Association of Corporate Travel Executives (ACTE) Asia-Pacific Education Conference in Singapore, 22-23 August 2007, is predicted to host over 30 leading business travel executives from the Peoples Republic of China. This diverse delegation, reflecting an increased acceptance of borderless business in today`s travel sector, is expected to be the largest, in both delegate number and countries represented, at an ACTE Asia-Pacific Conference.
Megan Stowe, Global Strategic Sourcing Manager, Mobility, Intel Corporation, commented on the increase in the Chinese participation, There has been an increased recognition within the corporate sector that travel policy is worth managing from a financial standpoint. A rising number of CFO`s, procurement directors and financial aides for global organizations see business travel as an opportunity to avoid financial `leakage`.
Stowe added, That all successful executives evaluate individual corporate success by comparison with like corporations as a way to benchmark success and plan out steps for the future. As such, this increase PRC representation reflects the universal desire to analyze current success and direct future initiatives.
China is expected to grow into the world`s largest market for corporate travel by 2010, and is said to spend – on international travel from China alone – US$4.2 billion in 2004, which represents 17 percent of the Asia-Pacific business travel market. As Bicky Carlra, in At Face Value: An Insight into Travel Management within Asia-Pacific reports, China is the largest country in Asia, represents US $2.23 trillion GDP and had an average annual growth rate of 9.6 percent between 1978 and 2005. China, along with India, is developing into a global superpower and has been cited as the most attractive foreign investment destination for the past four (4) years by AT Kearney.
With strong economic growth in Asia attributed to a focus on market reforms, export-oriented industries, stable currencies, diversification of the economy, and increases in foreign capital investment, the ACTE Asia-Pacific Education Conference, which is regional in scope, has nonetheless attracted representation from global travel professionals – currently from over 22 countries.
