Market Overview 2022-2027:

The India business travel market reached a value of US$ 31.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 55.2 Billion by 2027, exhibiting a CAGR of 8.1% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

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

The India business travel market is primarily driven by stable economic growth and decreasing airfares due to the introduction of new airlines. Additionally, as India has the capability of becoming a business hub, it is creating opportunities for corporates to open offices in the region. Along with this, tie-ups of several corporate organizations with the leading business travel providers to offer customized collaborative spaces and team-building exercises are positively impacting the growth of the market. Furthermore, increasing business activities in industries like healthcare, pharmaceuticals, and manufacturing, which are the largest end customers for business travel, are rapidly driving inter-regional operations.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India business travel market, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on type, purpose type, expenditure, age group, service type, travel type and end user.

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:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Key Questions Answered in This Report:

• How has the India business travel market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the India business travel market?
• What are the key regional markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the purpose type?
• What is the breakup of the market based on the expenditure?
• What is the breakup of the market based on the age group?
• What is the breakup of the market based on the service type?
• What is the breakup of the market based on the travel type?
• What is the breakup of the market based on the end user?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the India business travel market and who are the key players?
• What is the degree of competition in the industry?