Skift India Report: In-Person Meetings Drive Rebound in Corporate Travel
Photo Credit: Staff walking the floor of an event at a hotel in Bengalaru, India. Skift
Skift Take
After a decline for more than two years, business travel seems to be gaining traction. But can it sustain the momentum in the face of global recession and growing inflation?
Cited as the number one reason for corporate travel, face-to-face meetings and events are primarily driving corporate travel, according to FCM Consultancy’s Global Quarterly Trend Report.
Accommodation: Prices of hotels in Asia increased by an average of 26% during the first quarter of 2023, with Bengaluru being the most expensive at $190 a night, followed by Delhi at $150 a night.
Airfares: Economy fares from Mumbai to Delhi have increased by 15% and business by 9%. Economy fares from Mumbai to London have gone up by 26% in economy (the highest increase in Asia) and 20% in business.
Back with a Bang: A survey conducted by the Centre for Economics and Business Research revealed that a majority of Indian businesses (67%) anticipate an increase in business travel this year with 77% of businesses planning to raise their travel budget.
In fact, India is one of the few markets that is recovering faster than others when it co
