World tourism grew by an estimated 7.4% in 2000 — its highest growth in nearly a decade and almost double the increase of 1999. Directly or indirectly, tourism is estimated to provide 245 million jobs and over US$ 5 trillion in economic activity worldwide, of which US$ 2.3 billion in 39 LDCs.

Business tourism is a lucrative, fast-growing segment of the world’s largest industry sector.

Good niches in business tourism exist for developing and transition economies. These countries can market themselves as cost-effective, yet exotic locales, where corporate objectives can be met in a rejuvenating setting. The challenge is to identify the competitive trends, and meet business travellers’ needs for both efficiency and relaxation. ITC consultant Dorothy Riddle outlines major trends and specific niche opportunities for developing and transition economies.