Indian Business Travel Expenditure Surges Beyond $38.2 Billion in 2024
Regarding the amount spent on business travel, India ranks ninth globally. Representing 5.7% of the region’s business travel expenditures, it is the fourth-largest market in the Asia-Pacific area. India is expected to spend 18.3% more on business travel in 2024 compared to its 24.7 percent growth in 2023. In this article, we are going to discuss Indian Business Travel Expenditure Surges Beyond $38.2 Billion in 2024. Additionally, if you are looking to grab the cheapest business class flights to India from USA, make sure to visit Flyopedia, the best reveal website.
FCM Travel India and GBTA Collaboration
The Global Business Travel Association (GBTA) and FCM Travel India, an established global corporate travel administration enterprise, partnered to host the very first FCM Corporate Travel Summit in Mumbai. To look at the most recent changes and patterns affecting business travel in the nation of India, the gathering gathered more than 150 professionals and individuals making decisions.
Throughout the event, presenters delivered effective presentations on an assortment of topics, including events and meetings, advances in technology, business travel trends, and environmentally friendly initiatives. The summit’s speakers emphasized India’s expanding importance in the commercial travel sector, highlighting that the nation ranks as the 9th largest travel market internationally for business travel expenditure, contributing to 5.7% of the Southeast Asia and Pacific region’s spending.
India’s Growing Presence in Business Travel
Sunny Sodhi, the managing director of FCM Travel India, highlighted the robust growth trajectory of corporate travel spending in India on this particular occasion. India is ranked ninth in the world for business travel expenses. Business travelers spend 5.7% of their money on business travel in the Asia Pacific area, making it the fourth largest market in the region. India increased its corporate travel expenditures by 24.7 percent in 2023 compared to 2024, and we anticipate that this percentage will increase to 18.3 percent.”
Manpreet Bindra, FCM Meetings & Events Leader, Asia, emphasized how the meetings and events industry is evolving. Furthermore, she highlighted how business travelers’ increasing desire for luxurious experiences and well-being is driving the use of technology in events.
“The year ahead holds great promise for the meetings and events sector. Events powered by technology are here to stay. We leverage AI and VR to improve visitor experiences. There’s also an increasing desire for health, fitness, and even luxurious experiences,” he said.
Innovation and Eco-Friendliness at the Forefront
Manpreet Bindra, FCM Meetings & Events Leader for Asia, underlined the growing significance of technology in the meetings and events industry.
He said, “Events made possible by technology are here to stay. Artificial intelligence and virtual reality are tools we employ to improve and elevate visitor experiences.”
He continued by highlighting the rising demand for wellness-focused activities, using walks through Maasai Mara and lunches by the Mara River as examples. Also, make sure to check out Flyopedia.ca to grab the cheapest flights from Canada to India.
India: A Promising Market for Future Advancement
The primary causes of the region’s 44% revenue gain were the reopening of China and strong growth in Southeast Asia and India, according to Bertrand Saillet, Managing Director of FCM Travel Asia. Consequently, this implies that Southeast Asia and India will have promising economies in the next fiscal year.
Catherine Logan, Regional Vice President of EMEA & APAC at GBTA, anticipates an increase in corporate travel spending in India. Moreover, projecting a 2025 return to pre-pandemic spending levels and a possible 2027 exceedance of pre-COVID levels, this shows the business travel industry’s resilience and expansion potential in the country.
“India will fully reach pre-2019 spending levels by 2025 and is expected to reach 120 percent of its pre-COVID business travel spend in 2027,” she stated.
Furthermore, if you are seeking cheap flight tickets to India from USA, make sure to browse Flyopedia, the best travel website to book cheap flights to India.
Also Read: Prime Business Hubs: 6 Destinations to Visit in India for Business Travel
