Suppliers eye India’s outbound tourism

Travel and tourism businesses around the world are looking to capitalise on India’s double-digit annual growth in the outbound MICE and luxury travel segment, with India’s business travel market expected to reach $93 billion by 2030, organisers of an industry event have said.

India has moved up two places to become the eighth largest business travel market, and business travel spending in the nation is projected to record a CAGR of 12 per cent through 2020, they said.

As India maintains its double-digit annual growth in the outbound meetings, incentives, conferences and exhibitions (MICE) and luxury travel segment, travel and tourism businesses worldwide are looking to capitalise on its growth potential.

The MICE market refers to a niche of group tourism dedicated for planning, booking, and facilitating conferences, seminars, and other events.

Forging business opportunities and partnerships with leading Indian corporates and luxury travel specialists will be discussed at the 6th annual MICE India and Luxury Travel (MILT) Congress, the premier B2B event that caters to both the business travel and luxury tourism sectors in India.

Organised by Dubai-based QnA International, the MILT Congress will be held this year in Mumbai from July 25-26 and in Delhi from July 31August 1. By 2030, the value of India’s business travel market is expected to reach USD 93 billion, a statement said.

India is among the largest source markets for MICE tourism in both Dubai and Abu Dhabi, and the travel and hospitality companies in both the Emirates are looking to further expand their reach in the Indian market by taking advantage of the unique networking opportunities provided by MILT Congress 2018.

The United Nations World Tourism Organisation, meanwhile, has forecast that India will account for 50 million outbound tourists by 2020.