BRIC not only emerging markets, says TMC
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Businesses are looking to Latin America, Eastern Europe, Africa and Middle East for growth opportunities aside from the BRIC nations, according to travel management company FCm.
While business hubs in Brazil, Russia, India and China (BRIC) are still amongst the top growing countries, the four previously mentioned are also gathering pace as places for investment and development in the coming years. Based on its booking volumes, Mexico, Colombia, Peru, Argentina, Chile, Saudi Arabia, Angola, Ghana, Congo, Uzbekistan and Kazakhstan were named specifically as countries where businesses are heading to for commercial opportunities.
“While a lot of discussion has been around the activity generated from the BRIC countries we are starting to see growth in business travel bookings to a host of other global locations,” said Maren Hanschke, director of FCm’s Latin America and Caribbean network. “By looking across our global network at where our clients are booking their travel to, where clients are setting up new offices or operations and what destinations they are asking for local travel management support in, we are able to pinpoint new areas of growth for the industry and for our company.”
She added travel sellers will need more knowledge of global carriers and pricing options to help both leisure and business clients get around safely and efficiently.
Tourism is a key economic generator for several countries and although FCm’s clients may be looking for manufacturing or natural resource contracts, there has also been development on the travel and tourism industries in the regions.
Latin America: While Brazil has been grabbing all the attention with high-profile events, new flights into countries nearby is helping to boost visitation. Peru has new airports in development and with Brits eager to soak up its culture its gastronomy, carnivals and historic sites have become a hit.
Africa: All eyes have been on Africa in the past few months as its airline industry booms, with newcomer fastjet to launch flights next week. Still a business hub for now, but leisure opportunities could develop if the country becomes safer to visit.
Eastern Europe: Cities such as Budapest, Prague and Kiev have become instant popular weekend breaks with Brits thanks to cheap prices but more tours to Uzbekistan, Kazakhstan and Georgia have been launched in the last year with more flights available too.
