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GBTA CEO Suzanne Neufang
More 800 travel professionals from 28 countries convened at the Raffles City Convention Centre in Singapore last week for the GBTA APAC Conference, a growing event in the Asia-Pacific (APAC) region hosted by the Global Business Travel Association (GBTA). Much of the event’s focus was on adapting and innovating the next wave of business travel married with sustainability and technology.
According to forecasts from the association—and shared with attendees—the region is enjoying a resurgence in business travel volume and spending.
More than 800 attendees from 28 countries joined the event
Highlights from the conference:
- Data from GBTA’s 2023 Business Travel Index (BTI) indicates the APAC region remains on course for playing a prominent role in global total business travel spending this year, encompassing 42 percent of global travel spend. China, Japan, South Korea, India, Australia, and Indonesia claim spots among the Top 15 global markets.
- Taiwan (52 percent), Singapore (40 percent), Thailand (36 percent), New Zealand (34 percent) and Hong Kong (31 percent) represent the Top 5 APAC markets with the highest year-over-year growth in business travel spending between 2022-2023.
- According to the GBTA 2023 BTI, 40 percent of APAC business travelers flew business or first class, and 38 percent stayed at an upscale or luxury hotel on their work trips.
- At 45 percent, APAC business travelers are more likely to blend leisure travel with a business trip, which is higher than any other region surveyed.
“The business travel forecast for APAC looks strong and poised for success, as demonstrated by our record-breaking attendance at the conference this year. Having spoken to our regional members and industry professionals to better understand what’s important to them, I’m optimistic about the future. There’s definitely a good appetite for business travel in the APAC region,” said APAC for GBTA Regional Director Elle Ng-Darmawan in a press release.
Matt Assolin of RMA Worldwide
Rick Versace of A1A Global Ground
GBTA reported that high-ranking representatives from leading global organizations such as Google, EY, Jetstar Asia, The Ascott, and Changi Airport also joined the conference and offered their insights.
Additionally, GBTA will be opening its Board of Directors election on May 24. This year’s candidates—vying for one of three open Allied-At Large member seats—include two from our own industry: Matt Assolin of RMA Worldwide and Rick Versace of A1A Global Ground. You can view their platforms here, and good luck to our industry friends!
Members in good standing will receive an email from the association on May 24 with voting instructions, and the final winners will be announced during the GBTA Annual Business Meeting on June 26.
Visit gbta.org for more information.
[05.21.24]
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The countdown is on: We’re just over a week away from the CD/NLA Executive Retreat on June 2-5 at the fantabulous Fontainebleau in Miami. Are you prone to FOMO? Well, if you’re experiencing some trepidation about missing out on the fun, now’s the time to jump aboard. Limited space is still available for our excursion in Florida, so register today by clicking here and join us for the networking and education event of the season.
Andi Gray
Shariff McMichael
In last week’s e-news, we were excited to share information about our amazing anchor content from Forbes Travel Guide on Monday. While we’re pleased to present the opportunity offer this exclusive content to operators for the first time, we’re equally jazzed about our homegrown plans for Tuesday.
Tiffany Hinton
Maya Adrine
Michael Campbell
After breakfast (included, naturally), we’ve got a session designed to appeal to forward-thinking business owners. In our Creating Your Next Leader workshop, an expert panel will help you appoint the next generation of leadership in your company. Join Moderator Tiffany Hinton of MOTEV, along with guest speakers Andi Gray of Strategy Leaders, Maya Adrine of Golden Limousine International, Michael Campbell of Grace Limousine & Bus, and Shariff McMichael of Dav El/BostonCoach, for this enlightening and interactive seminar. Let’s face it, you can’t do everything, and you need people who can step up and take the reins effectively and efficiently. Whether you are looking at elevating family into the position, promoting from within, or even taking on an outside hire, our experts will provide valuable insight to give you what you need to make sure your company is well-managed for the future.
Then, prepare to get some relief from your biggest challenges, courtesy of Bring It! Problem-Solving Interactive Roundtables. Problems… All business owners face them, and many folks are kept up at night by issues they’re dealing with in the office each day. Whether you’re handling HR incidents, finding reliable staff, delegating responsibilities, or vetting affiliates, know you’re not alone. You’ll be seated at a table with some of the smartest and forward-thinking operators the industry has to offer, and you’ll gain insight and wisdom from the experiences of your colleagues and our moderators. Be prepared to share, brainstorm, and discuss during this inventive and engaging session. Click this link to have your personal challenge considered for discussion.
As the CD/NLA Executive Retreat is limited to 200 operators, our interactive sessions promise close-knit, peer-to-peer collaboration for immediate and valuable takeaway. And with more than 75 percent of the available slots filled, there’s no time to sleep on registering.
Visit cdnlaexecutiveretreat.com for more information.
[05.21.24]
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- Category: Industry News
The National Federation of Independent Business (NFIB) released its Small Business Optimism Index for April, which showed an increase of 1.2 points to 89.7—the first time the index has risen in 2024. The 50-year average since the organization began collecting data in 1973 is 98.
After seeing an index consistently over 100 from 2017-2020, data show that small optimism peaked in August 2021 and has been hovering in the high 80s and low 90s since. Much of that is attributed to persistent inflation concerns, which was again cited as the most important problem in their business by 22 percent of respondents, while available labor quality (19 percent) and labor costs (11 percent) rounded out the top three.
“Cost pressures remain the top issue for small business owners, including historically high levels of owners raising compensation to keep and attract employees,” said NFIB Chief Economist Bill Dunkelberg. “Overall, small business owners remain historically very pessimistic as they continue to navigate these challenges. Owners are dealing with a rising level of uncertainty but will continue to do what they do best—serve their customers.”
Report highlights:
- The net percent of owners who expect real sales to be higher rose six points from March to a net negative 12 percent (seasonally adjusted).
- A seasonally adjusted net 12 percent of owners reported planning to create new jobs in the next three months, up one point from March’s lowest level since May 2020.
- A net 26 percent (seasonally adjusted) of owners plan price hikes in April, down seven points and the lowest reading since April of last year.
- Forty percent (seasonally adjusted) of all owners reported job openings they could not fill in the current period, up three points from March, which was the lowest reading since January 2021.
- The net percent of owners raising average selling prices fell three points from March to a net 25 percent seasonally adjusted.
The full report is available here.
Visit nfib.com for more information.
[05.21.24]