India set to take nearly 10% share of tourism revenues
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Business travel is set to increase further in 2011, with Asia playing a key part in its resurgence.
According to a survey by Deloitte, 80% of business travellers said they would take more or the same number of business trips as in 2010 and 79% indicated they would spend more money or if not, the same.
With increased passenger demand for air travel, prices to Asian markets are set to increase for both airlines and hotels.
Based on Egencia’s 2011 Global Corporate Travel Forecast and Hotel Negotiability Index, average ticket prices (ATPs) for corporate travellers to top business travel destinations are expected to increase in Asia-Pacific in half the markets including Sydney, Beijing and Mumbai, with the largest increases forecast for Shanghai (up 9%), Singapore (up 8%) and Tokyo (up 7%).
China and India are the two leading countries among global emerging economies, with strong economic growth helping to drive travel demand. Investment and expansion within these two markets continue at a rapid pace, according to Euromonitor Travel and Tourism Forecast Update.
India corporate travel is expected to outpace Asia Pacific in 2011, with business departures from India accounting for 33% of all travel, versus 23% for Asia Pacific.
India departures are expected to consist of 7.4% of Asia’s overall outbound travel in 2016. In addition, India is set to attract inbound tourist and corporate travellers and expected to account for 9.57% of Asia Pacific tourism expenditure, finds a new report by Abacus International.
However, as prices increase and corporate travel increases, corporations are still monitoring their business travel expenses and having to adhere to corporate travel policies.
Corporate travel policies and guidelines are now expected to be more strictly enforced. Among the top five guidelines, pre-trip approval for business travel and required booking accommodation in advance are at the top.
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