Business travel gateway between Asia and Australia soars; opportunities for Australia lie in ASEAN region
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.
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New statistics by FCM, the market corporate travel division of Flight Centre Travel Group, has revealed the gateway between Asia and Australia 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 India and Australia saw an increase of 21 per cent. Bookings from Asia which included China, Japan, Singapore, and Malaysia 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. India, 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. Gaurav Luthra, FCM managing director for India, said: “Travel between our continent and Australia has always been critical for trade. Our latest innovative statistics show a demand for large businesses to head Down Under ramp up.” “It’s no coincidence that the growth in the number of bookings coincides with airline capacity returning and more seats being offered. Singapore Airlines and Qantas have swapped out smaller aircraft for A380s to key cities such as Sydney and Melbourne. “Another trend that we’re seeing is corporate travellers extending their long-haul stay to take advantage of holiday destinations and Australia is the perfect place to do this. “Meetings, events, and conferences have also come back strong in the last three months, reflected in these increased booking numbers. Businesses value face-to-face meetings now more than ever as the euphoria of Zoom and Teams fades away in favour of in-person occasions.”
