India’s Business Travel Sector Primed for Major Growth

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India’s business travel market is expected to reach $38.2 billion in 2024, an 18.3% growth from 2023. The Mumbai Corporate Travel Summit, hosted by the Global Business Travel Association (GBTA) and FCM Travel India, saw over 150 directors and executive-level decision-makers discussing the latest technologies, sustainability goals, geo-economic shifts, and other factors shaping India’s post-pandemic business travel sphere. India is currently 9th worldwide in overall business trip expenses and holds a 5.7% market share of Asia Pacific’s corporate travel spending.

Also read :UAE's Visa Exemption Expansion: A Strategic Move to Strengthen Ties with India

Advances in artificial intelligence, virtual reality, and wellness travel are driving growth. Attendees noted a surge in interest among Indian business travelers for unique wellness experiences, such as ecotourism, walking safaris, and destination dining. The reopening of China and the strength of Southeast Asia provide tailwinds for India’s growth.

Also read :India’s Business Travel Sector Primed for Major Growth

GBTA’s Vice President expressed confidence in corporate India fully recovering from the pandemic, with pre-COVID business travel spending levels expected to return as early as 2025. According to GBTA’s models, India may soar past 2019 benchmarks by as much as 20% by 2027.

Also read :India and UAE Leads Net Zero Travel Movement for Sustainable Tourism Industry

Business travelers and companies are increasingly prioritizing sustainable practices, with the adoption of carbon-offsetting schemes.

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