Drivania Blog

The best business travel destinations for 2016

Forecasts, trends, and changes in corporate destinations

Posted on 05-01-2016
NY

Business travel destinations are important aspects in the calendars of large and medium-sized companies. Forbes Mexico magazine has published that the leading financial hubs in the world are, in order, London, New York, Hong Kong, Singapore, and Tokyo. The data was provided by the Global Financial Centers Index, prepared by the Qatar Financial Center.

The first two cities (London and New York) listed in the ranking are extremely close. The British capital moved ahead of the North American giant this year to reclaim the number one position. In any case, all of the aforementioned destinations appear on the road map of corporations and important business owners.

The index takes the following factors into consideration to prepare the ranking: business environment, human capital, infrastructure, financial sector development, and reputation.

What are the forecasts for 2016 in the area of business destinations? What trends can we expect in this sector?

The best business destinations for next year

According to the 2016 Global Travel Price Outlook report prepared by the Global Business Travel Association GBTA and Carlson Wagonlit Travel, India, China, Colombia, Mexico, Singapore, and Australia are expected to top the list of business hot spots. 

The report provides global, regional, and country-by-country projections for air travel, hotel, ground transportation, and meetings & events prices in 2016. 



According to the report, airline prices will remain stable throughout 2016, although the previously mentioned hot spots will experience slight price increments due to the growing demand.

In terms of the hotel industry, an overall rise in hotel prices is expected because demand is overtaking supply at most business destinations. North America, Latin America, and Asia Pacific are the regions that will experience the sharpest price increases, while Europe, the Middle East, and Africa will experience a more moderate rise.

In the area of ground transportation, rates have become stagnant globally and regionally. The most interesting global trend revolves around the sharing economy. 

For meetings & events across the globe, only modest increases are expected in cost per attendee per day and group size. The strong demand in China and India will result in higher prices and larger groups. North America will also experience a significant increment.



Long-term city forecasts

Forbes Mexico has published its outlook of the 10 cities that will contribute the most to the global GDP in 2030. 

The business magazine discusses the study titled How the Global Urban Landscape Will Look In 2030?, by Oxford Economics. The entity analyzed the 750 largest cities in the world in terms of population size, GDP per capita, and population age.

Of all the data analyzed, the conclusion is that New York will be the city to contribute the most to global economic growth by 2030.

China will be the country with the most metropolitan areas within the ranking of top 10 cities that will contribute the most to global economic growth in 15 years. The Asian giant’s capitals that appear in the ranking include Shanghai, Beijing, Tianjin, and Shenzhen.

According to the study, the cities that will contribute the most to growth in 2030 are:

1. New York, United States, with $874 billion.

2. Shanghai, China, with $743 billion.

3. Tianjin, China, with $625 billion.

4. Beijing, China, with $594 billion.o

5. Los Angeles, United States, with $522 billion.

6. Guangzhou, Guangdong, China, with $510 billion.

7. Shenzhen, China, with $508 billion.

8. London, United Kingdom, with $476 billion.

9. Chongqing, China, with $532 billion.

10. Suzhou, Jiangsu, China, with $394 billion.