What China's rapidly growing business-travel market means for the industry

Despite a slowing economy and uncertainty in the global market, China is set to rise above the United States as the world's top business-travel market by 2017. According to a Visa-sponsored report supplied by the Global Business Travel Association Foundation (GBTA), Business-travel spending in China increased 16.6% — amounting to a whopping $261 billion, and additional increases of 14% and 16% are expected for 2015 and 2016.

Michael McCormick, GBTA executive director said in a press statement:

While this is slower growth for China, it is all relative. There is simply no other market to compare China to as their economic engine continues to move forward at a phenomenal pace producing double digit business travel spending growth.

The data indicates big changes in the industry, including a rise in upscale hotels. In March, properties like the JW Marriott Hotel Macau, China and the Sheraton Shanghai Jiading will open their doors, and the Sofitel Sanya Leeman Resort will open up in April. The Sheraton Zhuhai Hotel will join the fray on May 1, and three different Ritz-Carlton properties will arrive throughout the year. Most likely, these notable brands will continue to expand as the business market grows.

With a rise in business travel within China also comes growth in the country's international outbound spending on travel, both for business and pleasure. Some have mixed feelings about welcoming droves of Chinese travelers, including Thailand, which recently published an etiquette guide for Chinese tourists after several incidents of bad behavior, including pooping in public places. Interestingly, China's own National Tourism Administration has in the past published guides on how its own tourists can act more civilized abroad — including a 64-page guidebook.

Whether we agree on tourist conduct, the influx of visitors will undoubtedly help the U.S. economy. Thanks to a new extended 10-year U.S.-China visa agreement promoting Chinese business and leisure travel in the United States, Chinese tourists spent $21.1 billion in America last year. And that number is estimated to grow to $80 billion by 2021.