• Germany forecasts tourism surge during UEFA Euro 2024
  • Modi urges toursits to spend 105 of their travel budget to purchase local goods
  • Kerala to undertake intiatives to promote the state as global meeting veue
  • Swiss cancels plans for domestic A340 this summer
  • Scandron receives DGCA logistics drone certificate
  • Air India, Tata Advanced System to invest INR 2,300cr in Karnataka
  • Plan is to bring Air India on the same level as Vistara: CEO

77pc of Indian businesses to increase travel budget in 2023: Report

With business travel across domestic and international markets showing a rebound after post pandemic , majority of Indian business ( 67%) expect a rise in business travel in 2023 and 77% of business are expecting to increase their travel budget in 2023 as compared to 2022. These findings have been revealed in the business and travel entertainment ( T& E) survey report titled Revival of business travel : An India perspective commissioned by American Express , India with the Centre for Economic and Business Research. Manish Kapoor, vice president and head, global commercial services, American Express Banking Corporation, India said, “The sentiment is upbeat for corporate travel in India. While the past two years resulted in a temporary decline in business travel, domestic travel has resumed, and almost surpassed the pre pandemic level. International travel is also picking up and we can expect a sustained recovery. With increased average ticket prices expected to remain high in the medium term, Indian companies will be exploring technologies and should adopt smarter solutions for better cost efficiencies.”

The report stated 53% businesses said that just over half of their employees had taken an international or domestic work trip in H2 2022. Government and public sector employees followed by marketing, sales, real estate, professional services and pharmaceuticals lead trips. 64% of government or public sector employees took international or domestic trips for work. The report further stated that 77% of businesses expected to increase their travel budget in 2023. Agriculture, manufacturing, construction, utilities and engineering topped the list with largest travel budgets on average at INR 70 lakhs per year for each business. (Source: The Statesman)

Read Previous

Indian Railways to launch Vande Bharat Express on Delhi-Jaipur route

Read Next

IndiGo to start direct flight between Mumbai-Dhaka route from March 26

Most Popular

Download Magazine