India Turns into the 10th Largest Business Travel Market

By on June 9, 2014

GBTA (Global Business Travel Association) recently announced of their first GBTA India report, which is said to cover up the overall economic analysis and the outlook of India. The report was sponsored by the Visa, Inc and it also includes GBTA in it.

The Vice President of GBTA, Welf Ebeiling said in a recent interview that he has been forecasting a positive sign in the business travel growth in the upcoming years in India. The recent victory of the BJP and Narendra Modi would bring business reforms and other accelerated infrastructure type of investment in India. As Narendra Modi has won about 282 seats from 543 in the recent election, his incremental success can spark a good business travel growth and an economy’s growth in India.

India Travel

The report has also highlighted that from a certain period of economic growth that has been stuck up below 5 per cent with the soaring inflation, the GBTA projects would do the business for about 2.1 per cent in the year 2014 that is equal to US $24.9 billion. The report has also said that in the last 15 years, India has been in the position of 24 in the year 1000 and India did rank 10 during the year 2013. The GBTA has high expectation on India and they would like India to pass over Italy to turn up into the position number 9 and stay as the 9th largest market for the next five years.

As the domestic business travel spending has been dominated in the recent years, India has tasted a tremendous growth with the middle class and the multitude business centres have comprised about 90 percent of the total business travel spend in India. The recent victory of Narendra Modi in the election would boost up the business and the investors’ confidence and domestic business travel would regain by the 2015 with about 7.7 per cent that is equal to US$ 24.2 billion.

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