Business travel gateway between Australia and Asia soars
New statistics released today by FCM, the flagship large market corporate travel division of Flight Centre Travel Group (ASX:FLT), has revealed the gateway between Australia and Asia has soared for big business in the previous quarter when compared to 2022.
The figures showed that bookings between 01 July and 30 September 2023 versus the same time last year between China, Japan, Singapore, Malaysia, and Australia took off by a whopping 83 per cent – a near doubling of demand between the two continents.
According to the Australian Government Department of Foreign Affairs and Trade, the trade interests are inextricably linked. Australia's two-way trade with ASEAN is greater than their trade with Japan or the United States, passing AU$178 billion in 2022.
Singapore, Malaysia, Thailand, Vietnam, and Indonesia are also in Australia’s top 15 trading partners for 2022. In any match-up of economic complementarity with growth potential, the greatest trade, and economic opportunities for Australia over the next 30 years lie in the ASEAN region.
Melissa Elf, Global Chief Operating Officer of FCM/ANZ Managing Director of Flight Centre Corporate, said: “Travel between Australia and the countries within Asia has always been critical for trade and we’re now seeing that demand for big business to head Down Under really ramp – as our latest innovative statistics show.
“It’s no coincidence that the growth in booking numbers coincides with airline capacity coming back and more seats being offered as the likes of Singapore Airlines swap out smaller aircraft for A380s into the capital cities of Sydney and Melbourne.
“The other trend we’re seeing is corporate travellers extending their long-haul stay to take advantage of holiday destinations – Australia is the perfect place to do this."
“Meetings, events, and conferences have also come back strong in the last three months and that’s reflected in these increased booking numbers. Businesses are valuing face to face now more than ever as the euphoria of Zoom and Teams fades away in favour of in-person occasions.”