The era of globalization has brought some of the most significant changes in the world economy. There has been a number of developments in the world economy that have came forth on the onset of liberalization implemented by numerous countries. Business travel over the last few decades have been increasing at an exponential rate due to the emergence of several multinational and global organizations. It has been seen that a considerable number of business travelers fly from one part of the world to other quite frequently. As the concept of market based economy has actualized in most of the developed and developing nations, business travel seems to have been increasing manifolds.
Over the last few years a significant change in the domain of trade and commerce has been witnessed in many of the countries across the world. Some of the developing nations in the likes of China, India, Brazil, Malaysia etc. have come up with numerous industries. A great number of nations have been also giving stress on drawing foreign investments. As a result, some of the most well known business entities from the developed countries started investing in the developing nations. The special economic zones and many export processing zones that have come up in many developing countries of late certainly attracted numerous companies and thus proliferated business travel activities.Business hubs have been created in many parts of world in order to facilitate the activities like export, import, manufacturing, assembling, warehousing and many more.
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Business travel has also proliferated as numerous multinational companies have arose over the recent decades that have their operational activities scattered at almost every part of the globe.
Thus if we consider the business activities of the IT major Microsoft Corporation that has its operational activities in a number of countries, it can be easily seen that its professionals have to travel extensively to different parts of the world in order to meet the requirements of the clients' need and demand.
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Eying the immense rise in the number of business travelers umpteen other industries have also grown significantly over the recent decades. The travel and tourism industry of many countries have also grown substantially. Hotels of various categories in large numbers have emerged in the popular business destinations. Tremendous rise in the profit levels have also been registered by the hotels and resorts who cater to the needs of many business travelers at almost any time of the year. A major growth in the airline industry worldwide can be seen that have been possible due to the surging growth in the number of business travel activities. Various airline carriers have been also providing many travel packages for the business travelers. Discounts are also offered in the airfares of travelers who fly frequently.
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