New analysis has revealed the emerging global business travel destinations seeing the biggest increase in annual business visitors.
France saw the largest year-on-year increase in inbound business travellers, up 11.6 million, beating the US, which welcomed an additional 3.7 million corporate visitors.
Two other smaller global markets – Cyprus and Japan – also saw higher relative (%) market growth than the US in the last year.
The business travel experts at Booking.com for Business have analysed UN Tourism Statistics, revealing the countries with the biggest proportional (%) year-on-year increase in business travel visitors.
The countries seeing the biggest increases in business visitors:
| Rank | Country | Total year-on-year difference in inbound business traveller volume | Year-on-year % difference in inbound business traveller volume |
| 1 | France | 11,600,000 | 53.2% |
| 2 | Cyprus | 38,480 | 16.0% |
| 3 | Japan | 130,918 | 12.3% |
| 4 | United States | 3,691,000 | 11.7% |
| 5 | Slovenia | 31,000 | 8.3% |
| 6 | Australia | 53,000 | 7.3% |
| 7 | Canada | 272,000 | 7.2% |
| 8 | Spain | 280,128 | 5.6% |
| 8 | United Kingdom | 364,875 | 5.6% |
| 10 | Finland | 57,000 | 5.0% |
Source: UN Tourism Statistics
France’s geographical location makes it easily accessible for European and African markets, contributing to its role as a global business hub. France is also the fourth-largest EU exporter and the world’s seventh-largest economy, contributing to its rising prominence as a hub for international business relationships and a top destination for business travellers.1
Cyprus ranks second with a 16% year-on-year increase in business traveller volume. Holding a strategic location at the crossroads of Europe, the Middle East, and Asia, and with an advantageous tax landscape, Cyprus is becoming a go-to destination for startups and multinational corporations.2
Despite this notable growth in inbound business travel, the volume of additional corporate travellers entering Cyprus each year is still much lower than in other top-ranking countries, at 38,480. For example, the United States, in fourth place, has attracted an additional 3.6 million travellers in the same period.
Rounding out the top three is Japan with a 12.3% year-on-year increase in business travellers (+130,918). Japan has the world’s fourth-largest economy by GDP, and its capital city, Tokyo, is recognised as a major financial hub, home to the world’s fourth-largest stock exchange.3
The US has long been a top global business power, attracting thousands of annual business travellers, thanks to being home to the world’s largest economy and a robust culture of innovation.4
The slower growth in inbound business travel compared to other top-ranking global powers could be due to recent visa policy changes, including increased levies on foreign travellers.5 However, the US still attracted the second-highest volume of additional business visitors in this period after France.
Joshua Wood, Managing Director at Booking.com for Business, offers his tips for optimising business travel budgets:
Book in advance to stretch your travel budget: “Better logistic planning can help to reduce last-minute stress and over-paying on airfare, ground transport, and accommodation. To make this a practice, your corporate travel policy can set a timeline for booking travel in advance and send reminders before booking deadlines.
Encourage Flexible Travel Schedules: “Flights and hotel prices often fluctuate based on demand, so giving travellers a bit of flexibility in their schedules can help secure better deals. Help by implementing a policy that allows travel dates within a set window to take advantage of lower rates without impacting business objectives.
Leverage corporate travel management tools: “A business travel platform can help secure the best deals and streamline corporate travel bookings by comparing different provider options and costs. At Booking.com for Business, we offer a free platform with a vast selection of airlines, accommodation, and car choices, which makes it easy to compare options, find the best rate, and benefit from Genius loyalty program discounts, as well as providing visibility over costs with a travel spend tracker, so it’s easier to avoid going over budget.”
You can view the full report here.
