FCM Travel India, a leading global corporate travel management company, recently organised its first-ever FCM Corporate Travel Summit in Mumbai in collaboration with the Global Business Travel Association (GBTA). The summit, sponsored by industry giants such as Hyatt India Hotels, Amadeus, and Singapore Airlines, gathered over 150 professionals from the travel sector, including influential decision-makers.
Discussions during the event covered a wide range of topics, including the latest trends in business travel, technological advancements, meetings, events, and sustainability initiatives.
Sunny Sodhi, Managing Director of FCM Travel India, highlighted India's significant position in the global business travel market. "India ranks 9th globally for business travel expenditure and holds the 4th position in the Asia Pacific region, accounting for 5.7% of the region's spending. In 2023, India experienced a remarkable 24.7% surge in business travel spending, with a projected 18.3% increase anticipated in 2024."
Manpreet Bindra, FCM's Meetings & Events Leader for Asia, discussed the evolving landscape of the meetings and events industry. "We anticipate an exceptional year for the sector, with technology-driven events becoming increasingly prevalent. Utilizing artificial intelligence and virtual reality, we aim to enhance guest experiences. There's also a growing demand for wellness, well-being, and luxury experiences. For instance, we recently organised walking tours in Maasai Mara and dinner along the Mara River."
Bertrand Saillet, Managing Director of FCM Travel Asia, highlighted the region's robust performance, citing a substantial 44% increase in revenue according to the Mid-Year Results FY2024. “This is fuelled by strong performance across Southeast Asia, India, and the re-opening of China, hence we are witnessing growth opportunities in India and Southeast Asia in FY2025,” he said.
Catherine Logan, Regional Vice President of EMEA & APAC at GBTA, concluded the summit on an optimistic note. “India will fully reach pre-2019 spending levels by 2025 and is expected to reach 120% of its pre-COVID business travel spend in 2027.”
(Edited by : Priyanka Deshpande)
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