Business travel in India to grow by 11.5 per cent in 2019

FCM Travel Solutions and KPMG’s recent whitepaper titled ‘Redefining Corporate Travel Management’ forecasts that the total market for business travel in India is projected to grow at an annual rate of 11.5 per cent and a spend of up to USD 46 billion in 2019. In the past year, rise in annual growth of business travel spend for India has been the highest among the top 15 business travel markets globally. Consequently, India surpassed South Korea to reach seventh position in the top 15 business travel markets (by spend) globally and is projected to be in the top five by 2022. It is forecasted to be one of the fastest growing markets over the next five years, growing at the rate of 12.5 per cent over the forecasted period.