BUSINESS TRAVEL SURGE IN INDIA
The recently-concluded GBTA conference was an eye opener to the participants as it deliberated positive forecast on the Indian Business Travel spend
The new age technological advancement has not only brought the world closer, but, also allowed travel to be more intensive yet adventurous. Business travel all around the world is seeing a massive surge. And, India too is moving up the ladder, rather much swiftly. The country is projected to be the only market to see a double-digit growth in the business travel spend.
The Global Business Travel Association (GBTA) conference that was held on August 18, 2017, at the Hotel Pullman New Delhi Aerocity gave an outlook on the business travel trends.
Enumerating GBTA Foundation’s outlook for the Indian business travel market, Gaurav Sundaram, GBTA India Regional Director, stated, “Global business travel spend approached $1.3 trillion USD in 2016, advancing only 3.5 percent over 2015 levels, according to the GBTA Foundation’s annual GBTA BTI™ Outlook – Annual Global Report & Forecast. Expectations are that business travel spending will pick up speed with greater advances in the coming years.”
SEEING A RISE
The Indian business travel market constitutes a major part of the Asia-Pacific region, which shows that burgeoning trends of MICE exuberated optimally in the sub-continent.
Sunadaram says, “Asia-Pacific represents over 40 percent of global business travel spend, and as the region’s fourth-largest growing market, India is an important part of that spend. India moved up two spots to take its place as the eighth largest business travel market in the world in 2016, and of the top 10, India was the fastest growing and only market to see double-digit business travel spend growth. GBTA projects India to continue this trend this year expecting 11.6 percent growth in business travel spend.”
Global business travel remains a critical driver of the success of organisations around the globe. Stronger footing in emerging markets and continued economic stimulus in the developed world has supported global stability leading to a positive forecast that is unfortunately clouded with more uncertainty
India is the fastest growing and only market to see double-digit business travel spend growth. GBTA projects India will continue this trend