Business travel spending to grow at 6.7% in 2018

Business travel spending is expected to grow at 6.7 per cent in 2018 and rise to 7.0 per cent per annum between 2018E-2028, according to a recent report by World Travel and Tourism Council (WTTC). The emergence of business hubs like Mumbai (Finance), Bengaluru (IT), Chennai (IT) and Delhi (Manufacturing, IT) is likely to boost business travel. Leisure travel spending (inbound and domestic) generated 94.6 per cent of direct travel and tourism GDP in 2017 US$ 201.7 billion compared with 5.4 per cent for business travel spending US$ 11.6 billion. Leisure travel spending is expected to grow at 7.6 per cent in 2018 and rise to 7.1 per cent per annum between 2018E-2028.