Industry Outlook, Size (US$ 55.2
, 2023-01-06 00:00:00,
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.
India Business Travel Market Trends:
The business travel market in India is primarily accelerated by rapid globalization and digitization in the tourism industry and the increasing adoption of advanced technologies in travel management processes. This is further supported by the declining airfares due to the introduction of new airlines. Additionally, stable economic growth has created several opportunities for corporates to establish offices in the country, which, in turn, is creating a positive outlook for the market. Besides this, the rapidly expanding travel and tourism sector and surging business activities in the healthcare, pharmaceuticals, and manufacturing industries are providing a significant boost to the market growth. Furthermore, leading business travel providers are offering customized collaborative spaces and team-building exercises to increase their consumer base, which is bolstering the market growth.
Download a free sample report to get a detailed overview of the market: https://www.imarcgroup.com/india-business-travel-market/requestsample
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