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?

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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 comes to business travel.

“The rapid surge back to in-person events has been a challenge for venues, hotels, airlines, and event planners. Travel constraints, capacity issues, labor shortages, supply chain issues and travel disruptions are all easing, but they are factors that are not expected to fully stabilize until 2024 highlighting opportunities for further growth,” said Manpreet Bindra, president of FCM India Meeting & Events.  

New York City to Host Over 300,000 Indians This Year

New York City is hoping to welcome 306,000 travelers from India this year, said Tiffany Townsend, executive vice president of global communications at New York City Tourism and Conventions. This comes just a day after American carr