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Carlson Wagonlit Travel (CWT) has recorded strong annual growth in the Asia Pacific region for 2013, the company’s end of year financial results showed.
The figures showed transactions increased by 4.5 per cent in Asia Pacific, enhanced by operations in China and Japan. There was also strong growth in Hong Kong with a 23 per cent increase in 2013 compared to the previous year.
The TMC’s results showed transactions in Latin America decreased by 2.2 per cent and there was also a drop of 0.8 per cent in Europe, the Middle East and Africa, which CWT said reflects the “delicate” economic climate throughout the region.
Sales in 2013 fell by 2.7 per cent to $26.9 billion. CWT said the drop was due to reduced demand for military and government travel.
Its annual results found excluding U.S military and government figures, sales increased by 0.3 per cent and the number of transactions managed by CWT increased by 0.4 per cent.
In the UK and Ireland, CWT’s sales remained flat with a decrease of 0.4 per cent at £1.2 billion compared with 2012.
CWT’s meetings and events arm recorded double-digit growth over the previous three years and last year’s figures were up 20 per cent on 2012.
CWT president and CEO, Douglas Anderson, said: "While the global economic environment remained challenging in 2013, our new business and client retention figures position us well for growth in 2014.
“CWT remains committed to delivering the best in innovative products and technology, combined with best-in-class customer service.”
Anderson added the company is confident it will remain at the forefront of the industry as the “landscape of business travel changes”.