India is World’s Fastest Growing Major Business Travel Market in 2016
India was the world’s quickest growing major business travel industry last season, report made by the GBTA Business Travel Outlook.
Despite demonetization worries that came with a plan by the Indian government to remove all 500 and 1,000 rupee notes from the flow, business travel investing saw double number development.
The GBTA predictions a further 11.6 % development in business travel spend, reaching $36.8 billion dollars in 2017. GBTA desires India will continue to raise the marketplace rankings and is likely to leap four areas over the next five years, becoming the 6th biggest business travel industry in the entire globe by the end of 2019. In fact, India is anticipated to leapfrog Brazil this season and could exceed both South Korea and Italy in 2017.
Meanwhile, India’s domestic business travel investing is estimated to grow at continually high rates of 11.8 % this season, from 12 % last season, to reach US$33.8 billion dollars. The country’s international outgoing business travel investing is estimated to have grown 5.4 % last season and to leap to nine % in 2017.
Image source: e-spaces.eu
The GBTA Foundation is the education and research basis of the Global Business Travel Association (GBTA), the world’s leading business travel and conferences trade organisation located in the Washington, D.C. area with functions on six major regions.
The review also said that business travel as one of the top development areas in India, growing at the same rate as high tech services and only a little bit of land, real estate, pipeline transport and business activities.