India is the world’s tenth largest business travel market and is likely to clock the fastest growth in this segment in the next five years. Business travel spending is expected to treble until 2030 from $30 billion in 2015, a report by consultancy KPMG.
In 2015, India saw a 15% increase in business travel spending, which will grow by a compound annual growth rate (CAGR) of 12% through 2020 to 6% by 2030. This increase in all possibility will be greater than the increases in business travel growth in the next three largest countries combined, including South Korea, Italy, and Brazil. Thirteen years from now (by 2030), India will likely be amongst the top five in business travel spending. Let's have a look at the top business travel trend in 2017 and beyond.
With the Trump’s presidency and Brexit movement of people across borders will be adversely affected due to immigration policies.This can adversely affect the business travel industry in 2017.Business travel though slow yet has shown steady growth amidst all adverse situations and it is expected to grow at 6.0 percent in 2017.
The rise of ISIS in Syria and lone terror attacks across various countries has given rise to issues surrounding duty of care for business travel. The need to find technology solutions to track employees on business trips has become a top priority for organizations around the world.
Business travel technology solution adoption has significantly increased across the region. The focus for most companies is to make the business travel platform robust, easy to use, transparent and operationally efficient.
Airlines over the past few years have focused their attention on ancillary revenue sources. Most airlines have started charging passengers for seats. Some airlines have started offering services targeting business travelers, for a small fee passengers can now avail services such as priority luggage and priority check in.
So, if you are a business traveler and wondering how to manage the business travel program of your corporate, join us for an exciting conversation. Atyourprice is a business travel management solution helping corporates to create the best business travel experience for their employees.