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

Micetalk - - Trends -

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.”

UN­RAV­EL­LING TRENDS

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

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