FCM Travel India recently organized its inaugural Corporate Travel Summit in Mumbai, in collaboration with the Global Business Travel Association (GBTA), with sponsorship from Hyatt India Hotels, Amadeus, and Singapore Airlines. The event aimed to bring together industry professionals to delve into the latest trends and innovations shaping the corporate travel landscape.

Key Highlights

• More than 150 professionals, including key decision-makers, attended the summit, making it a significant gathering within the travel industry.

Exploring Industry Trends

The summit featured insightful sessions covering various aspects of business travel, including emerging trends, technological advancements, meetings and events management, and sustainability practices.

India’s Growing Business Travel Market

Sunny Sodhi, Managing Director of FCM Travel India, highlighted India’s position as the 9th largest travel market globally for business travel spending. He emphasized the country’s robust growth, with a 24.7% increase in business travel spending in 2023, projected to reach USD 38.2 billion in 2024.

Rise of Technology-Enabled Events

Manpreet Bindra, FCM Meetings & Events Leader, Asia, discussed the evolving landscape of meetings and events, emphasizing the integration of technology to enhance guest experiences. He also noted a growing demand for wellness and luxury experiences, exemplified by recent initiatives such as walking tours in Maasai Mara.

Regional Growth Prospects

Bertrand Saillet, Managing Director of FCM Travel Asia, highlighted the remarkable revenue growth in the Asia Pacific region, driven by strong performances in Southeast Asia, India, and the reopening of China. He identified significant growth opportunities in India and Southeast Asia for the fiscal year 2025.

Future Outlook

Catherine Logan, Regional Vice President of EMEA & APAC at GBTA, concluded the summit with optimistic projections for India’s business travel market. She forecasted a full recovery to pre-2019 spending levels by 2025, with a potential surge to 120% of pre-COVID levels by 2027.

The FCM Corporate Travel Summit in Mumbai served as a platform for industry leaders to exchange insights and perspectives on the evolving landscape of corporate travel. With a focus on innovation, technology, and sustainable practices, the event highlighted India’s growing significance in the global business travel market.