China leads among East-Asian nations in the Global Retail Development Index, ranking second globally. Other Eastern Asian nations in the index include Malaysia (9), Indonesia (15), Sri Lanka (18), India (20), the Philippines (23) and Vietnam (28). Continue reading
Thailand’s National Council for Peace and Order (NCPO) has approved a US$23 billion project to connect two high speed railways with China’s rail network by 2021.
Plans for the Thai railways show one rail will connect the town of Nong Khai, just south of Laos’s capital Vientiane, with Map Ta Phut, located to the southeast of Bangkok. This section of rail is projected to cost 392.5 billion baht (US$12.2 billion) and will run 737 kilometers. Chiang Khong, positioned along Thailand’s northern border, will be connected to Ban Phachi, in the central Ayutthaya regions slightly north of Bangkok, along a track 655 kilometers in length at an expected construction cost of 348.8 billion baht (US$10.85 billion). Continue reading
Home to the burgeoning Chinese and Indian markets, the Asia-Pacific region now dominates global business travel spending, according to the latest findings by the Global Business Travel Association.
Global business travel is largely concentrated in three regions – Asia-Pacific, North America and Western Europe. In total, the three regions accounted for 89 percent of the world’s business spending last year. In 2013, business travel spending in Asia-Pacific accounted for 38 percent of the world’s total, more than the 21 percent for North America and 24 percent for Western Europe, the report found.
Business travel expenditure in Asia-Pacific more than doubled from 2000 to USD$392 billion last year, after growing 7.5 percent annually for more than a decade. The report expects spending to continue growing at a 10.2 percent annual pace over the next five years. Continue reading