Indian business travel to show 7.2% growth over next decade

India’s business travel industry has grown by 16.2 per cent over the past five years (2011-2016), according to a report by Travelport and World Travel and Tourism Council (WTTC) launched at the WTTC Global Summit 2017 in Bangkok. It has been predicted that Asia-Pacific will lead the way at a predicted rate of 6.2 per cent each year to 2027, with India (7.2%) among the top five countries attributing to the growth.
Over the past five years, at a global level, business travel spend has grown at an annual average of 3.6 per cent, with the strongest growth in the past 5 years having taken place in Asia, the Middle East and Sub Saharan Africa.
The CEO of Travelport, Gordon Wilson, commented: “Every day we see business travel growing at a significant rate in many emerging markets with technology playing an in increasingly important role in easing the way for those on trips for their work. As an industry we need to continue to invest in the best technologies and infrastructure whilst governments need to be more business-friendly by removing burdensome visa requirements.”
David Scowsill, President & CEO, WTTC, said: “Travel & Tourism generates USD$7.6 trillion in GDP and supports over 292 million jobs. Business travel is a vital part of the sector, and it is a key catalyst for global growth. It drives the relationships, investments, supply chains and logistics that support international trade flows.”