Dubai, an emirate with global ambitions to diversify, expanded its airport recently with a new terminal paved with white marble, devoted to its growing fleet of Airbus A380s double-deckers. Similarly, Beijing and Shanghai both greet foreign travelers with gleaming and spacious new international terminals.
Istanbul, ancient capital of empires, is successfully refashioning itself as a modern transportation hub with better connections to Asia than rivals in the United States or Europe. And Brazil, a rising oil power, is pouring billions into infrastructure as it prepares to host the soccer World Cup next year and the Olympic Games in 2016.
Business travelers are expected to spend about $1.16 trillion on airfare, accommodations and other travel this year, according to the Global Business Travel Association, up from $1.07 trillion last year. Much of that growth is coming from developing nations, prompting a boom in new construction in emerging markets while business travel in the US recovers at a slow pace and Europe, mired in the euro crisis, remains stagnant.
01/05/13 New York Times/Economic Times
