April 21--China has already surpassed the United States in several categories, becoming the world's largest economy, the largest exporter and the largest car market.
So it was only a matter of time before it surpassed the United States as the world's leader in business travel spending.
Revised figures by the research arm of the Global Business Travel Assn. found that Chinese business travelers spent $291.2 billion in 2015, compared with $290.2 billion in spending by U.S. business travelers.
The gap is only expected to widen in 2016, when business travel spending in China will grow by 10.1% to $320.7 billion, compared with U.S. spending that is expected to grow by less than 2% to $295.7 billion, according to the business trade group.
The growth of China's business travel spending comes despite a slowdown in the Chinese economy over the last year.
The Global Business Travel Assn. noted that China has continued to invest in its travel infrastructure, with plans underway to build dozens of new airports and hotels across the country.
Although 95% of the business travel spending is for domestic trips, U.S.-based hotels have been spending heavily to accommodate Chinese visitors who travel abroad.
The Hilton Hotels Resorts and Starwood Hotels Resorts Worldwide both launched plans in 2011 to provide Chinese guests at participating hotels with Chinese-speaking employees, a tea kettle and slippers in each room as well as traditional Chinese breakfast items, such as rice porridge, known as congee.
And, of course, chopsticks will be offered alongside spoons and forks.
"China surpassing the United States in business travel spending marks a major inflection point and truly demonstrates the global nature of today's economy," said Michael W. McCormick, executive director of the Global Business Travel Assn.
After the 2008 economic recession, U.S. corporations cut back on business travel and have only recently started to spend at pre-recession levels.
To read more about travel, tourism and the airline industry, follow Hugo Martin on Twitter at @hugomartin.
