At 8.1% CAGR, India Business Travel Market to Reach US$ 55.2 Billion by 2027, Says IMARC Group

According to IMARC Group's latest report, titled "𝐈𝐧𝐝𝐢𝐚 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐓𝐫𝐚𝐯𝐞𝐥 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬, 𝐒𝐡𝐚𝐫𝐞, 𝐒𝐢𝐳𝐞, 𝐆𝐫𝐨𝐰𝐭𝐡, 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝟐𝟎𝟐𝟐-𝟐𝟎𝟐𝟕", the India business travel market size reached US$ 31.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 55.2 Billion by 2027, exhibiting a growth rate (CAGR) of 8.1% during 2022-2027.

Year Considered to Estimate the Market Size:

Base Year of the Analysis: 2021

Historical Period: 2016-2021

Forecast Period: 2022-2027

𝐈𝐧𝐝𝐢𝐚 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐓𝐫𝐚𝐯𝐞𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

Stable economic growth and decreasing airfares, owing to the introduction of new airlines, are primarily driving the India business travel market. Additionally, the growing penetration of high-speed internet connectivity, the introduction of various online travel agencies (OTAs), the emerging trend for leisure travel, continuous improvements in the hospitality, airline, and tourism industries, and the development of incentives, conferences, meetings, and events (MICE) segment are further catalyzing the market growth. Besides this, numerous tie-ups of corporate organizations with the leading business travel providers to offer customized collaborative spaces and team-building exercises are acting as significant growth-inducing factors. Moreover, the rising business activities in sectors, including healthcare, pharmaceuticals, manufacturing, etc., and the increasing partnership between businesses and airlines are also propelling the market growth across India. Apart from this, the elevating investments by public and private agencies for improving the travel infrastructures are augmenting the market growth. Furthermore, the inflating popularity of advanced technologies, such as robotics and virtual reality (VR), for offering personalized customer experiences is anticipated to fuel the India business travel market over the forecasted period.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐚 𝐟𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐭𝐨 𝐠𝐞𝐭 𝐚 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐨𝐯𝐞𝐫𝐯𝐢𝐞𝐰 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭: https://www.imarcgroup.com/india-business-travel-market/requestsample

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

The report has segmented the India business travel market based on type, purpose type, expenditure, age group, service type, travel type, end user and region.

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐓𝐲𝐩𝐞:

• Managed Business Travel
• Unmanaged Business Travel

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐏𝐮𝐫𝐩𝐨𝐬𝐞 𝐓𝐲𝐩𝐞:

• Marketing
• Internal Meetings
• Trade Shows
• Product Launch
• Others

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐄𝐱𝐩𝐞𝐧𝐝𝐢𝐭𝐮𝐫𝐞:

• Travel Fare
• Lodging
• Dining
• Others

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐀𝐠𝐞 𝐆𝐫𝐨𝐮𝐩:

• Travelers Below 40 Years
• Travelers Above 40 Years

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐓𝐲𝐩𝐞:

• Transportation
• Food and Lodging
• Recreational Activities
• Others

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐓𝐫𝐚𝐯𝐞𝐥 𝐓𝐲𝐩𝐞:

• Group Travel
• Solo Travel

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐄𝐧𝐝 𝐔𝐬𝐞𝐫:

• Government
• Corporate
• Others

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐑𝐞𝐠𝐢𝐨𝐧:

• North India
• West and Central India
• South India
• East India

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞 𝐖𝐢𝐭𝐡 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

The competitive landscape of the India business travel market has been studied in the report with the detailed profiles of the key players operating in the market.

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝟏𝟎% 𝐅𝐫𝐞𝐞 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/request?type=report&id=3457&flag=C

Note: We are updating our reports, if you want the report with the latest primary and secondary data (2023-2028) including industry trends, market size and competitive landscape, etc. click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐃𝐞𝐟𝐢𝐧𝐢𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧:

Business travel represents the journey that is undertaken for work and business purposes. It is generally paid for by the employer via the in-house travel departments or external service providers. In line with this, business travel usually includes a wide array of components, such as planning and booking, sourcing and procurement, account management, measuring and reporting, etc. In India, business travel facilitates cost tracking and control for organizations while helping employees adhere to corporate T&E policies and generating mass savings through negotiated discounts.

𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐒:
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This release was published on openPR.