The Insight Files
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Consumer trends and news curated by Tourism Australia
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The impact of emerging markets on corporate travel 

The impact of emerging markets on corporate travel  | The Insight Files | Scoop.it

There are a few emerging markets around the world already impacting on business travel, and there are big expectations on the role they'll play within the industry in 2017. In order to seize the opportunity to tap into these emerging markets, this article lists tips and advice on how travel managers can arm their employees and customers with the necessary tools to succeed. Among the predictions:

 

  • Reports forecast that India will reach $36.1 billion in business travel spending in 2017, becoming a top 5 market in corporate travel spending in the next 15 years.
  • China's business travel spending is expected to increase by 61% over the next 5 years. In 2015, China surpassed the USA as the biggest business travel market in the world. 
  • According to Asialink Business, Australian businesses in consumer markets such as design and product development, retail and online marketing and consumer finance have plentiful opportunity in Indonesia's emerging international marketplace. 
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Emerging markets continue to turn to technology to book travel

Emerging markets continue to turn to technology to book travel | The Insight Files | Scoop.it

The Emerging Consumer Survey 2015 by Credit Suisse tracks nine key emerging countries: Brazil, China, India, Indonesia, Mexico, Russia, Saudi Arabia, Turkey and South Africa. Within the past five years, there has been a nearly 20% growth in propensity to holiday within emerging markets. This has partially been fuelled by the resurgence of the global economy. The aspirations of consumers in emerging markets continues to grow, with Brazil leading the pack by more than double. Consumers in Brazil are often geared to take shopping trips, particularly to close-in locations such as Miami, which drives a significant amount of travel spend into North America. China, India and Indonesia are quite mobile, with around 5% of consumers in those countries planning to holiday in the next 12 months. While it may seem that emerging markets are not as suited to technology-enabled travel, these regions are enjoying significant smartphone penetration.

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Eve-Line Boulle's curator insight, March 10, 2015 9:30 AM

"While emerging markets are taking a bit of a beating as far as growth, the expectations on the travel side of things remain healthy."

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Top 5 emerging markets with the best middle class potential

Top 5 emerging markets with the best middle class potential | The Insight Files | Scoop.it

The rise of the middle class in emerging markets has captured the enthusiasm of global businesses, especially in the context of weak demand growth from developed economies. In targeting emerging middle class consumers, the most successful companies are those which can fully assess the middle class potential in prospective markets. For the long-term period through to 2030, Euromonitor has identified five emerging markets with the best middle class potential: China, India, Indonesia, Nigeria and the Philippines. In these countries, the middle class is set to become a prominent consumer force thanks to not only their large size, but also their strong income growth prospects and a median income exceeding US$10,000 per household in 2030. Find out more.

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Malorie KANEHO's curator insight, November 11, 2015 10:38 AM

Interesting! But reading this, I still wonder about the criteria they use to define the middle class in Africa...