Tag Archives: FCM

Sunny Sodhi, FCM Managing Director, India, said, “India is the 9th largest travel market in the world for business travel spending. It is the 4th largest market for the Asia Pacific region. In 2023, India’s business travel spending grew 24.7 per cent and we anticipate an 18.3 per cent increase in spending in 2024.”

Despite increase in room tariffs, India records 58 per cent increase in the number of nights booked in Ahmedabad, Bangalore, Chennai, Delhi/NCR, Dharamsala, Hyderabad, Kolkata, Lucknow, Mumbai, and Pune in first quarter of 2023 than 2022, states a FCM report.

According to FCM, Global hotel occupancy in the first quater was 63.3% which is 96% recovered to 2019. In Asia, India had the highest occupancy with Mumbai reaching 101%, New Delhi at 97%, followed by China with Shanghai at 95%, and Beijing at 93%. 

According to FCM, Google Flights data shows, on average, flights that depart on Monday, Tuesday or Wednesday have been 12 per cent cheaper than weekend departures. This hack will be useful for business travellers who have the flexibility to book early-week meetings.

FCM Travel Solutions and KPMG’s recent whitepaper titled ‘Redefining Corporate Travel Management’ forecasts that there is a growing demand for mobile capabilities in business travel due to higher volumes of millennial travellers. These travellers prefer to research and book both flights and accommodations on mobile. When booking a trip themselves, 60 per cent of India’s millennial business travellers do so online through their desktop or laptop, with 47 per cent of them booking through their smartphones. Travellers today want relevant and timely content at their fingertips. The shifting trends among Indian business travellers, before and during their journeys, is pushing the business travel industry to adapt continually to provide responsive, relevant and timely services for customers. Millennial travellers rely on technology for the entire travel booking process – from online reviews to mobile booking and check-in to staying connected with colleagues in a new city. Majority of travellers prefer online methods of research as it provides greater information, occasionally better deals and higher level of convenience. Hence, providing a seamless and mobile friendly travel experience in a business ecosystem, can help improve an employee’s overall travel experience. Business and leisure travellers alike are demanding greater omni-channel support throughout their travel journey. This presents a significant opportunity for travel management companies, as well as other businesses that support them. Such companies need to provide digital processes and support to enhance their customer’s experience.