Business Travel Trends
Business travel insurance is a good way to protect documents and technology, and you can even insure meetings against cancellation when travelling for work. But where in the world are people taking their work?
To identify the world’s most popular business hubs, we’ve looked at the top locations for business travel insurance policies combined with flight data. We’ve also looked at what these major business destinations have to offer.
The world's fourth-largest country, the United States of America has the largest economy in the world with GDP expected to reach $21 trillion in 2019. Silicon Valley located on the West Coast is best known for its innovative start-ups, and Wall Street on the East Coast is home to the New York Stock Exchange and NASDAQ.
France is a leader in sectors including manufacturing, tourism and pharmaceuticals. It is also recognised for its cultural influence in both the arts and fashion. Its popularity as a tourist destination helps make it the most visited country in the world.
Roughly 7% of business travel from the UK each year is to Spain. Its main industries are pharmaceuticals, textiles, food and beverages, along with tourism. The country is also home to major corporations such as Banco Santander and the biggest fashion group in the world, Inditex.
Germany has the largest economy in Europe. The country is home to companies such as Allianz, Volkswagen and BMW and is internationally recognised for the production of vehicles, machinery, and electronics.
One of the most industrialised countries in the world, the Netherlands is home to companies such as ING Group and Shell. Its main sectors include agriculture, energy, metallurgy and technology. Several cities promote innovation and creativity hubs for budding entrepreneurs, including Amsterdam and The Hague.
Ireland's economy is heavily dependent on international trade with leading industries including pharmaceuticals, chemicals, hardware and food and beverages. The country mainly exports to the United States, Great Britain and Belgium. It is home to Google EU HQ in Dublin.
Italy is the third-largest economy in Europe. It is also the eighth largest exporter in the world, mainly focusing on vehicles, food and textiles. The country is also a popular tourist destination, famed for its luxury goods, food and influence on both the arts and culture.
With its skyscraper-packed cities, the UAE has become a popular destination for business travellers over the last 20 years. Dubai is home to a large number of entrepreneurs and technology start-ups. The capital, Abu Dhabi, is the commercial and cultural centre of the country.
India has the sixth-largest economy in the world. With Mumbai as the financial capital and Bangalore the technology hub, the country is ever-more attractive for its business potential.
Sweden’s economy is mainly focused on exports. Its main industries include vehicles, telecommunications, home goods and iron and steel. The country is home to famous brands such as IKEA, Ericsson, Spotify and Assa Abloy.
As one of the biggest economies in the world, we also looked into where Americans travel for business purposes. Here are the top 10 destinations most visited for business from the USA.
Sources and methodology
Figures correct as of 20/08/19. Business travel insurance policies by country provided by https://comparethemarket.com/travel-insurance from August 2018 to July 2019.
Additional information provided from:
Ookla’s Speedtest Global Index