Con­cur to trans­form ex­pense sys­tems

China Daily (Hong Kong) - - BUSINESS - By FAN FEIFEI fan­feifei@chi­nadaily.com.cn

Con­cur, a US-based travel and ex­pense man­age­ment so­lu­tions provider, sees enor­mous mar­ket op­por­tu­ni­ties in the China mar­ket.

China, it said, has be­come the world’s largest mar­ket for busi­ness travel. “China rep­re­sents an enor­mous mar­ket op­por­tu­nity, and we look for­ward to ex­pand­ing the ser­vices we al­ready of­fer multi­na­tional Chi­nese com­pa­nies,” said Mike Eber­hard, pres­i­dent of Con­cur.

Apart from multi­na­tion­als, Con­cur will serve lo­cal Chi­nese com­pa­nies, Eber­hard said. “We have been building lo­cal ca­pa­bil­ity for the last five years.”

Con­cur’s co­op­er­a­tion agree­ments with China’s largest on­line travel agency Ctrip and ride-hail­ing app Didi Chux­ing en­sure most Chi­nese com­pa­nies have a good lo­cal travel and ex­pense man­age­ment so­lu­tion, Eber­hard added.

Ac­cord­ing to the Global Busi­ness Travel As­so­ci­a­tion, China’s busi­ness travel mar­ket reached $291.2 bil­lion in 2015, up 11.4 per­cent year-on-year, sur­pass­ing the US mar­ket’s $290 bil­lion. It fore­casts that to­tal busi­ness travel expenses of China will grow by more than 10 per­cent in 2016 to $320 bil­lion.

bil­lion

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