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Friday, 14 September, 2018, 17 : 30 PM [IST]

It's best time to be in the business of Business Travel in India: GBTA

With India poised to be one of the fastest growing business travel market for the next five years with annualised growth of 12%, it is the best market to be in the business of business travel, said Gaurav Sundaram, Regional Director, Global Business Travel Association (GBTA) India. Delivering the welcome address at the GBTA conference 2018 New Delhi, Sundaram said that big ticket changes are happening in the business travel industry and stakeholders should not lose sight of it.

India has moved from number 10 business travel market to number 7 in the last one year and expected to move up further overtaking either South Korea or France to claim number 6 spot in next one year, he said.  India is the third largest Business travel market in APAC after China and Japan, he said.  Moreover, India has been the fastest growing business travel market in the world and one continue to be for the last five years or so, he said.  Therefore, it is the best time to be in the industry for buyers, sellers and intermediaries, he said.

While the industry in the developed world have come through different evolutionary stages, Indian industry, he said, need not compulsorily evolve through all those stages, but can leapfrog and reach at par with global counterparts if there is a genuine willingness to change.  “Inertia will make you redundant.  Status quo-ism is not going to take you anywhere,” he cautioned the legacy organisations. 

Pointing to start ups which are disrupting with innovative technology, he said that they are out to challenge the legacy companies.

Talking about India and the relevance of forums like GBTA conferences, Sundaram said that there is hardly any educational forum to sensitise and educate the travel managers about what is happening in the world.  Although there are companies which have adopted global best practices within their organisations, interest is missing to talk about it and share the knowledge with others.  Buyers don’t talk each other, nor sellers and communication between buyers and sellers is also missing.  “Desire to collaborate and share knowledge is unfortunately missing in India.  Buyer-seller divide is also blatant here,” he said. 

In the day-long conference different topics related business travel will be discussed.

 
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