FX Excursions

FX Excursions offers the chance for once-in-a-lifetime experiences in destinations around the world.

India Aims To Lead International Business Travel

Jul 19, 2016
eFlyer Lead

Recent data from the Global Business Travel Association Foundation and Visa Inc. point to double-digit business travel spending growth in India. The country is currently the world’s fastest-growing business travel market. The reports indicate a 10.7 per cent growth this year alone, followed by a 10.2 per cent growth in 2017, equal to USD 36.1 billion. “If it continues on its current path, India is poised to be a world leader in business travel for decades to come. The growth rate of business travel in India is on par with other leading industries in the country showing once again business travel playing an important role as a driver of economic growth and jobs,” said Gaurav Sundaram, regional director, India, Global Business Travel Association. Since 2000, India jumped five spots among the world’s travel markets, and currently stands as the 10th largest. It’s expected to jump another four spots by 2019, surpassing Brazil, South Korea and Italy as soon as next year. In addition to international travel, the report expects domestic travel in India to grow by 11.5 per cent this year and 10.3 per cent next year. Business travel is one of the top growing sectors in India, coming after only land and pipeline transportation and real estate, and tying with high technology services. India’s overall economy, the world’s seventh largest, experienced growth of 7.3 per cent last year, the fastest GDP growth rate in the world. Growth is attributed to private consumption and public infrastructure. “The government’s attempt to improve the ease of doing business in India combined with positive economic sentiment and globalization has resulted in the acceleration of growth in business travel to the country,” said TR Ramachandran, group country manager, India and South Asia, Visa.

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