Tag Archives: GBTA

Sharing her views on how business travel in India is slated for growth, Catherine Logan, Regional Vice President of EMEA & APAC, Global Business Travel Association (GBTA), said, “India will fully reach pre-2019 spending levels by 2025 and is likely to reach 120 per cent of its pre-COVID business travel spend by 2027.”

According to the latest poll of GBTA members, business travel is projected to reach pre-COVID 19 levels of US $1.4 trillion in revenue by 2024, business travel bookings are seeing an increase rebound month on month. However, travel managers cite staffing shortages and government policies and restrictions as having a significant impact on corporate travel programs. 

There’s more on the minds of the business travel industry these days beyond COVID-19 when it comes to the sector’s continued recovery. The return of global business travel remains strong – this month a majority of global travel managers surveyed report their companies are allowing domestic and international employee travel, and travel suppliers continue to cite increased travel bookings from their corporate customers. Conference attendance is also back – stronger than in 2019 as an overall share of business travel budgets. Current affairs and economic concerns, however, are also now in the mix and are having a significant impact on travel programs, according to industry stakeholders. And as the world starts traveling for work again, companies are also considering their policies for employees who aren’t quite ready to get back on the road or in the air. Suzanne Neufang, CEO, GBTA, said “As Covid becomes more manageable in many regions, companies and employees are getting back to traveling for business, fueled by the need to get back to business. We are now seeing, however, other factors beyond Covid coming into play that could affect the speed and trajectory of recovery for business travel as we head into the second half of 2022″.  

Scott Solombrino, CEO, Global Business Travel Association (GBTA), has been sent on administrative leave by the board of directors of the association. According to an official statement, the association has taken this action to allow further investigation into the accusation alleging racism, misconduct, sexism and misuse of funds on Solombrino.

According to a recent survey conducted by Global Business Travel Association (GBTA) among its members worldwide, including corporate travel managers and travel suppliers, 75 per cent of the respondents said that their companies were frequently hosting virtual meetings as a result of the COVID-19 outbreak. With advances in technology, online meetings have now become the alternative to face-to-face meetings, most of which now stand either cancelled or suspended. This may well be a trend in the near future.

The COVID-19 virus could potentially cost the industry $46.6 billion per month. That translates into $559.7 billion annually, or 37% of the industry’s total 2020 forecast global spend, revealed a new poll released today by the Global Business Travel Association (GBTA). GBTA members routinely send their employees to meetings and events throughout the world, with the primary destinations being North America, Europe, China, and the Asian Pacific region. To understand the coronavirus’ effects on this travel, GBTA conducted a poll of its worldwide membership on February 25, 2020. It received responses from 401 companies.

The Global Business Travel Association (GBTA) has unveiled its line-up of flagship education and networking events in India for the year ahead. The GBTA Conference 2018 will be held in Bengaluru on June 15, in New Delhi on September 14, followed by Mumbai on October 12, 2018. These forums will discuss best practices across the business travel lifecycle through a mix of panel discussions and presentations. Each event will also feature a trade show highlighting the best-class solution providers within the business travel industry. “With India expected to become the sixth largest business market in the world by the end of 2019, GBTA felt it was crucial to host a series of conferences within this region,” said Gaurav Sundaram, President ProKonsul & Regional Director of India for GBTA. He added, “Each conference will be unique in its offerings of education sessions, speakers and content and will ultimately help educate the market on global best practices.” GBTA Conference 2018 Bengaluru will be held at the Sheraton Grand Bengaluru Whitefield Hotel and Convention Center. The one-day event will feature a CXO roundtable moderated by Sundaram on generating the optimal ROI from business travel. The conference will also feature sessions focused on optimizing air contracts, managing workforce mobility, optimisation opportunities within business travel, challenging the status quo as it pertains to technology and processes, and more. Source ANI

Double digit business travel spending growth continues for India, despite fears of fallout from the country’s demonetisation efforts, according to the latest Global Business Travel Association (GBTA) BTI™ Outlook – India report. “India continues to position itself to become a world leader in business travel for decades to come,” said Gaurav Sundaram, GBTA India’s regional director. “Despite fears surrounding the demonetisation efforts, India saw a 10.9 percent growth in year-over-year business travel spending for the second quarter of 2016 – even higher than our last report projected.” The GBTA Foundation report forecasts 11.4 percent growth in business travel spending in 2016, followed by another 11.6 percent in 2017 – both increases over our previous forecast – reaching $36.8 billion USD. India continues to climb the world rankings of business travel markets, moving up five spots during the early 2000s to become the 10th largest global business travel market at the end of 2015. Forecasts predicted India would pass Brazil last year and will likely surpass both South Korea and Italy in 2017. GBTA projects India will become the 6th largest business travel market in the world by the end of 2019. GBTA forecasts domestic business travel spending will continue to grow at consistently high rates, 11.8 percent in 2017, reaching $33.8 billion USD. India’s international outbound (IOB) business travel spending has shown subdued growth in the 5-6 percent per year range. GBTA’s IOB forecast for 2016 has been revised upward from 3.1 percent projected previously to 5.4 percent. It seems commodity prices may have finally found their footing and bottomed out, and the brightening prospects for increased trade activity, especially with the oil-rich MENA region, should help to push IOB …

India is the fastest-growing business travel market in the world along with Indonesia and will average double-digit growth in business travel spending over the next five years, According to the GBTA BTI™ Outlook – Annual Global Report & Forecast, a new report released today by the GBTA Foundation, sponsored by Visa. However, at $291 billion, China has surpassed the United States as the largest business travel market in the world in 2015.

Global Business Travel Association (GBTA) will hold its first educational seminar and exhibition in Delhi on September 6, 2016 at Pullman Aerocity Hotel New Delhi. Gaurav Sundaram, Regional Director – India, GBTA said that the event will address the best practices of business travel through discussions on topics like the role of technology in business travel, expense management, to name a few. “We are expecting almost 150 buyers which include travel managers, heads of business travel with leading corporate entities, finance leaders, procurement heads, among others, at the event. There will also be a trade exhibition side-by-side with the seminar,” he added.