Press Release

For Immediate Release
25 July 2005

ACTE President Speaks about the China Factor in Global Business Travel

Beijing -- - Greeley Koch, President of Association of Corporate Travel Executives (ACTE) made clear that China's role in the business travel industry will impact beyond the Asia-Pacific region, affecting the industry on a global basis. Delivering his keynote address at the official opening of the China Business and Incentive Travel Mart in Beijing today, Greeley Koch referenced important economic data emanating from China and underlined some of the implications it is likely to have on the industry.

He pointed out China's rise in ranking as the third largest contributor to air travel just behind the United Kingdom and the United States in terms of passenger kilometres. He also suggested that as China's investments in overseas markets increase, these international relationships will also generate more business travel, much in the same way as Foreign Direct Investments (FDI) in the last few years have also fuelled business travel volumes into and within China.

Greeley Koch shared data from a report coming from the World Economic Forum that stated the Chinese government is promoting a "scientific and sustainable" approach to their growth strategy for the economy. Taking this one step further, Koch said it was likely that this philosophy will permeate into all major sectors of the economy including the business travel industry.

The swell in business travel and its accompanying cost will eventually draw the attention of senior management and will motivate companies to seek the best practices for procuring and managing business travel. International standards will form the bedrock but it is not unfathomable that Chinese managers will develop their own brand of solutions that work effectively in accomplishing the same goals. In the address Greeley Koch added "The collective effect is that China could very well set new benchmarks and re-write best practices as we currently know it, establishing its own compendium of performance metrics in managed travel and some that may be unique to China reflecting its own culture."

He underscored the role of the international suppliers in developing both infrastructure and a knowledge base in managing travel among local industry professionals. These investments will provide the support needed for companies to gain equal access to comprehensive product content and cost-efficient delivery systems.

While China seeks to adopt international standards, it is also expected to make quantum leaps in the practice of managed travel in a short time. This will be made possible by it circumventing some legacy practices and implementing the latest in technology.

Greeley Koch remarked, "One ignores China at one's own peril. It is an economy that will fuel inbound and outbound business travel traffic for the next few decades."

ACTE is present in more than 35 countries with educational activities organized in markets across Asia-Pacific, Canada, Europe, Latin America, South Africa and the United States. ACTE's regional office is situated in Singapore and has been conducting educational programmes in Beijing and Shanghai since 2004.

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