India’s Business Travel Spending Projected to Soar in 2024: Report

Tuesday, March 5, 2024

In a recent summit hosted by FCM Travel India in Mumbai, industry leaders converged to discuss the future landscape of business travel. With sponsors like Hyatt India Hotels, Amadeus, and Singapore Airlines, the event drew over 150 professionals, including key decision-makers.

India’s business travel expenditure is slated to hit USD$38.2 billion in 2024, marking a significant growth trajectory. According to Sunny Sodhi, Managing Director of FCM Travel India, the country witnessed a remarkable 24.7 per cent surge in business travel spending in 2023, with an anticipated 18.3 per cent increase expected this year.

The summit delved into diverse topics such as the latest trends in business travel, technological advancements, meetings and events management, and sustainability initiatives. Manpreet Bindra, FCM’s Meetings & Events Leader for Asia, emphasized the rising demand for technology-enabled events and luxurious experiences, underscoring the industry’s evolving landscape.

Bertrand Saillet, Managing Director of FCM Travel Asia, highlighted the robust performance of the Asian market, with a 44 per cent revenue increase in FY2024, driven by Southeast Asia, India, and the reopening of China.

Catherine Logan, Regional Vice President of EMEA & APAC at GBTA, projected that India would surpass pre-2019 spending levels by 2025 and could achieve 120 per cent of its pre-COVID business travel expenditure by 2027.

FCM, a global leader in travel management services, stands as a trusted partner for numerous national and multinational organizations, offering agile technology solutions and personalized travel experiences across 97 countries. With proprietary client solutions like the omni-channel platform and FCM Booking, the company continues to innovate in the travel tech space.

As India gears up to reclaim its position as a powerhouse in business travel, the industry braces for transformative shifts driven by technology, sustainability, and evolving consumer preferences.

« Back to Page

• Unlocking the Future of Business Travel: Mastercard’s Insightful Report

• CT Travel Group commemorating 35 years in business travel

• WestJet CEO Alexis von Hoensbroech Unveils Long-Term Growth Strategy for Alberta’s Capital

• Business Travel Rebounds, Boosting U.S. Airlines’ Financial Prospects

• Avianca seeks permission for nonstop flights between Brasilia and Bogotá