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Airports and Hotels in Emerging Markets Outpace the West

Published: May 5, 2013 | 11:13 pm
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(CNA)- The business of business travel is booming in emerging countries, New York Times reports.

Dubai, an emirate with global ambitions to diversify, expanded its airport recently with a new terminal paved with white marble. Similarly, Beijing greets foreign travelers with a gleaming and spacious new international terminal.

Istanbul, ancient capital of empires, is successfully refashioning itself as a modern transportation hub with better connections to Asia than rivals in the United States or Europe. And Brazil, a rising oil power, is pouring billions into infrastructure as it prepares to host the soccer World Cup next year and the Olympic Games in 2016.

Business travelers are expected to spend about $1.16 trillion on airfare, accommodations and other travel this year, according to the Global Business Travel Association, up from $1.07 trillion last year. Much of that growth is coming from developing nations, prompting a boom in new construction in emerging markets while business travel in the United States recovers at a slow pace and Europe, mired in the euro crisis, remains stagnant.

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