Results for: APAC

Budweiser APAC, the Asian arm of the global beer giant, is facing headwinds in its largest market, China. The company’s profit dropped 15% in the first nine months of the year, driven by a 16.1% revenue decline in the third quarter. This downturn is attributed to a combination of factors, including a sluggish Chinese economy, evolving consumer preferences, and demographic shifts. Budweiser APAC’s strategy of focusing on high-end products might be encountering challenges amid cautious consumer spending.

The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) has successfully concluded the first-ever APAC Travel Marketplace, a two-day event that brought together over 200 travel industry professionals from the Asia-Pacific region to explore Abu Dhabi’s diverse tourism offerings and forge new partnerships. This initiative reflects Abu Dhabi’s strategic efforts to position itself as a leading global travel destination, particularly within the lucrative APAC markets.

Nium, a leader in real-time cross-border payments, has joined forces with Thredd, a premier payments processor, to enhance B2B travel payments in the Asia Pacific (APAC) region through the issuance of virtual cards. This collaboration taps into the growing demand for secure and efficient payment solutions in the travel sector, particularly among travel brokers. Nium’s virtual card technology enables secure and seamless payments to global travel providers, including hotels and airlines, leading to increased security, streamlined efficiency, and cost savings. Forecasts from Thredd predict significant growth in B2B travel transactions, with APAC poised to reach $480 billion by 2027.