Singapore has emerged as a top performer in business class travel growth, surpassing its Asian neighbors for travelers arriving from the Americas and the United Kingdom, according to a report by travel management company, FCM Travel.

The report highlights a rising trend among corporate travelers opting for premium travel when flying to Asia. Year-on-year growth in business class travel underscores Asia’s appeal as a key destination for business professionals.

Top destinations for business travel

Singapore has established itself as a powerhouse with substantial growth figures with the report stating that Singapore is outpacing its Asian neighbours, signaling its growing attraction and competitive advantage as the business travel hub of choice.

Singapore has comprehensive infrastructures conducive to facilitating high-stakes business discussions. These trends may signal transformative changes for the Asia-Pacific region as it positions itself firmly on the global travel map.

Top destinations for corporate travellers from the Americas include Singapore, Thailand and India, while Singapore, Hong Kong and Malaysia are leading choices for business passengers from the UK.
Globally, Malaysia (31%), Hong Kong (19%), India (18%), the Philippines (9%), and China (8.8%) recorded significant growth in premium travel during the first half of last year compared to the same period in 2023.

The findings from FCM Travel reflect broader shifts occurring within business travel dynamics. The increase of corporate travelers venturing to locations in Asia suggests enhanced confidence from global corporations investing time and resources for face-to-face engagements. Such trends not only highlight the importance of these destinations but also indicate shifting preferences stemming from the post-pandemic recovery period.

Asia’s increasing importance as business hub

FCM Travel Asia said that Asia is now the world’s second-most integrated trade region, after the European Union. In 2022, nearly 57% of Asia’s trade value originated within the area, underscoring its growing importance for businesses, according to McKinsey & Company. This surge in premium travel reflects the broader economic dynamics at play, with Asia emerging as a critical hub for global commerce.

Additionally, trade dynamics between the United States and China have shifted, with ASEAN playing a crucial role as a connector between major economies. While potential geopolitical developments may influence global trade in 2025, the essential nature of business travel for companies is expected to remain unchanged.

Southeast Asia (ASEAN) countries, particularly Vietnam, Malaysia, and the Philippines, have emerged as critical links in the global trade chain. From 2017 to 2023, ASEAN imports from China surged, while exports to the United States saw substantial growth. Vietnam, for instance, doubled its imports from China, adding US$50 billion, while its exports to the U.S. rose by US$60 billion.

This trade activity directly correlates with the increased demand for business travel. FCM Travel pointed out that the return of flight capacity across Asia has fueled competition and affordability, making premium travel more accessible to corporate travelers.

Looking Ahead to 2025

As geopolitical dynamics and economic policies evolve, business travel to Asia is expected to maintain its upward trajectory. Trade will remain a key focus in 2025, but the critical role of business travel in driving corporate success will stay unchanged. With its strategic importance and unmatched connectivity, Asia is poised to remain a top destination for global corporations.

Asia’s dominance in business class travel reflects its growing influence in the global economy. With 2024 setting the stage, the region is poised for continued growth as a preferred hub for premium corporate travel in the years ahead.