Saudi has emerged as a potential investment destination

The burgeoning BRIC nations are no longer the sole focus for companies exploring new markets according to global business travel management company FCm Travel Solutions.

Corporate travellers are heading to new business hubs outside of Brazil, Russia, India and China in order to scope new opportunities for growth and investment in other parts of Latin America, Eastern Europe, Africa and the Middle East.

Besides Brazil, FCm Travel Solutions has identified Mexico, Colombia, Peru, Argentina and Chile in Latin America as emerging hotspots on account of the volume of bookings FCm is transacting for clients to these five countries.

In the Middle East and Africa (MEA) region, FCm has earmarked Saudi Arabia, Angola, Ghana, and Congo as countries of rising commercial importance for clients.

And in Europe, foreign interest in the natural resources industries of Uzbekistan and Kazakhstan has put the spotlight on business travel to both these countries.

“While a lot of discussion has been around the activity generated from the BRIC countries we are starting to see growth in business travel bookings to a host of other global locations,” said Maren Hanschke, director of FCm’s Latin America and Caribbean network. 

“By looking across our global network at where our clients are booking their travel to, where clients are setting up new offices or operations and what destinations they are asking for local travel management support in, we are able to pinpoint new areas of growth for the industry and for our company.

“For companies travelling to these destinations it’s vital they have access to a travel management company with local market expertise as well as global knowledge of carriers and pricing options to ensure their people are getting in and out of these regions safely and cost efficiently,” added Hanschke.

According to FCm, commercial interest in Mexico is booming because of its location, well qualified workforce and reduced labour costs.

Key industries for FCm clients heading to Mexico include the manufacturing, automotive and assembly sectors. Additionally many US companies have supplier facilities in Mexico.

Clients involved in the agricultural, industrial and service sectors are also heading to or travelling within Argentina, while Chile and Peru are gaining importance on account of their mining opportunities.

In addition Costa Rica and Peru have high levels of inbound MICE.

In the Middle East & Africa, Ciarán Kelly general manager for the region said: “FCm recently signed a new partner licensee agreement in Angola in response to demand for travel management services in that region.

“Angola’s oil reserves make it highly attractive to G20 countries and corporations with commercial interests in mining. Ghana and Congo in Africa are viewed as rising business hubs while Saudi Arabia in the Middle East is on FCm’s list as a country of high potential for growth and investment.”

FCm Travel Solution is considered the World’s Leading Travel Management Company by the World Travel Awards.