Image: Rob Wilson / Unsplash
March 19, 2022: As employers nudge staff back to work after extended Work-From-Home, business travel is seeing a comeback --especially in the airline business.
Business travel is a division of regular tourism in which people travel for a business-oriented purpose. It includes transportation, accommodation, business work, entertainment and other activities.
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. As India has the capability of becoming a business hub, it is creating opportunities for corporates to open offices in the region.
The India business travel market reached a value of US$ 34.4 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a Compound Annual Growth Rate (CAGR) of around 10% during 2021-2026. (iMarc market research)
The global business travel market size was valued at US$ 695.9 Billion in 2020 and is expected to reach US$ 2,001.1 Billion by 2028, growing at a CAGR of 13.2% from 2021 to 2028. (Valuates reports).
Related  repporting: Business travel trends in 2022 (indiatechonline.com)