Most organizations are back with their business travel plans after a prolonged downtime because of the global travel restrictions mandated by the pandemic. Several factors determine the choice of business travel destinations. These are business prospects, accessibility, safety, business environment, the convenience of transportation, and accommodation facilities. Business travel is the prime driver of global tourism as more companies perceive its value despite the emergence of virtual meeting platforms. Here are the top 10 travel destinations for business travelers in 2022.
Most popular business travel destinations
1. Hong Kong
- Easy to start a business- It takes a minimum of seven business days to set up an offshore company in Hong Kong because of its simple documentation requirements. Hong Kong does not put any restrictions on foreign directors or shareholders.
- Lower taxes- Expat employees and international businesses find personal and corporate taxes in Hong Kong to be extremely attractive.
- Regularly features among top business travel destinations – Hong Kong featured among top business travel destinations in several surveys and reports
2. London
- Strategic and prestigious location- Besides its strategic location between Europe and North America, London is a prestigious business destination around the globe.
- Vast talent pool- Businesses can access a large and diverse talent pool as London has a population of 8.1 million residents. Most potential employees belong to the age group of 24-34.
- Business-friendly government- The UK government boosts small and growing businesses with many incentives and programs such as Start-up loans, subsidized broadband, capital allowances, and R&D tax credits.
- Sound business environment- London is the EMEA region’s leading technology cluster, with over 1.1 million registered businesses. The city provides myriad networking opportunities for entrepreneurs with workshops and meet-up groups.
3. Paris
- A large pool of resources- Paris boasts top-class research and tech institutes, business networks, an educated and young workforce, and offices of many Fortune 500 companies and is among the top business travel destinations.
- High GDP- Paris accounts for the largest GDP of Europe, which is 39.3 percent of the GDP of France. It caters to over 500 million consumers from Europe.
- Broad choice of office spaces- Small businesses benefit from rented office spaces offering several services to operate the offices.
- Entrepreneur-friendly- New entrepreneurs can access many benefits, like start-up credit, employment services, loans, guarantees, and other facilities from the government.
- Ease of starting a business- It is easier to set up a business in France than in most G20 countries.
4. Frankfurt
- Traditional business destination- Frankfurt developed into the most thriving business center in Europe through centuries. It is the world’s favorite venue for exhibitions and is home to major business centers for research, trading, and production.
- A popular center for global decision-makers- Frankfurt is among the top business travel destinations and the international meeting hub for global decision-makers from diverse sectors such as industry, politics, business, and finance.
- Ease of access- Frankfurt has a strategically developed infrastructure with over 275 hotels for accommodation, meetings, and conferences.
- Attracts countless air travelers- Frankfurt airport welcomes air travelers from over 270 locations across 100 countries.
- Supportive environment- Frankfurt has over 5 million people and a thriving business center.
Netherlands - Stable country- Netherlands ensures a stable business environment being among the most open economies in the world. It offers a competitive business environment and access to Europe’s largest port.
- A vast pool of workers- the Netherlands ensures enormous resources for international workers.
A stimulating environment for businesses- Access to multiple tax incentives, the government’s support for innovation, and business activities make the Netherlands a favorite business destination. - Strategic location- Its location in mainland Europe provides easy access to Germany, France, and the UK at a drivable distance.
- Exceptional connectivity- The Netherlands enjoys the world’s highest per capita internet connectivity to enable businesses to stay online without hassles.
5. Tokyo
- Dynamic population- Tokyo is among the top business travel destinations and is home to an energetic population of over 32.5 million, providing access to a young and efficient workforce for businesses.
- Robust purchasing power- Tokyo is among the world’s wealthiest towns and has high purchasing power, with a GDP of more than $1.52 trillion.
- Access to the best infrastructure- Tokyo has the world’s best transportation and other infrastructure for seamless connectivity to other locations in Japan, being the most visited city for business travel.
- Supportive business environment- It takes a maximum of two weeks to set up a business in Japan after successful negotiations.
- Thriving economy- Japan is among the world’s top economies, providing a perfect business climate for new companies.
6. Singapore
- Business-friendly legal framework- Singapore government supports businesses with its simple legal framework that does not discriminate against foreign business persons.
- Tax holidays- Foreign businesses need not pay taxes for the first three years.
- Blends East and West- Singapore is an excellent mix of the East and West because of its colonial past. Its legal systems and lifestyles have western influence. International businesses benefit from a comfortable and supportive environment in Singapore.
- Helpful economic policies- Singapore government implements economic policies that boost international trade.
7. Oslo
- Fast-growing economy- Being a major entrepreneurial center, Oslo boasts robust economic growth of 2.5 percent and features among the business travel destinations.
- Supportive environment- Norway ranks high in the world for competitiveness. The country boasts of its egalitarian culture that builds stronger employee-employer bonds and eliminates conflicts.
- A major hub for many industries- Oslo is a hub for several industries like oil, gas, seafood, mining, and manufacturing.
Conclusion
These top business travel destinations attract corporate travelers as global economies open up for business travel during the post-pandemic period. Online travel management platforms like Paxes.com simplify business travel with self-booking features to help employees plan business trips on the move. They can quickly access a large inventory of travel suppliers, including multiple GDS and regional LCCs. Companies can automate travel programs and save costs by leveraging SaaS-based travel management platforms for implementing travel policies and the duty of care compliance.
Suggested Read: What Is The Duty Of Care Meaning And Its Importance
Business Travel Destinations FAQs
Which are the top three countries for business tourism?
The top three countries for business tourism are China, the US, and France.
Which country has the highest number of business travelers?
PRC (China) has the highest number of business travelers.
Which is the top destination for business travelers in the technology, finance, and banking sectors?
New York is the most popular business travel destination for business travelers in the technology, finance, and banking sectors.
Which is the topmost Asian city for business travel?
Singapore is the top destination of Asia for business travel.
What is the name of the commodity marketplace of Frankfurt?
Frankfurter Wertpapierbörse (Frankfurt Stock Exchange) is the name of commodity marketplace of Frankfurt.
