Highest spend from IT firms

FCM Travel Solutions and KPMG’s whitepaper titled ‘Redefining Corporate Travel Management’ forecasts that the Indian business travel market is highly fragmented, with 70% of corporates spending less than ` 10 million.

IT companies have the highest share amongst those spending more than Rs 10 million followed by engineering and pharmaceutical companies. IT, BPO/ITeS and pharmaceutical industries have higher travel spends as a percentage of their revenue.

Business travel is central to both maintaining business as well as expanding it and due to rising cost of travel, it is becoming imperative for corporates to drive higher levels programme.