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India’s Corporate Travel Market Poised for Growth, Expected to Hit $20.8 Billion by FY30

India’s corporate travel sector is poised for substantial growth, projected to reach $20.8 billion by FY30, up from the current $10.6 billion, according to a new Deloitte India report released Tuesday. The report identifies key industries, including IT services, BFSI (banking, financial services, and insurance), engineering, aviation, oil and gas, pharmaceuticals, FMCG, automotive, metals, and diversified sectors, as the primary drivers of this surge. These industries contribute to 86% of the total travel spend among the top 100 companies in India. The overall travel market in India is expected to grow to $97 billion, with a compound annual growth rate (CAGR) of approximately 9%. Currently, airlines and hotels dominate the travel market, comprising 70% of the $53 billion sector, while the remaining share comes from railways and other transportation modes. The report notes that accommodation providers are increasingly adapting to the evolving business travel landscape by offering tailored amenities and services to capitalize on new opportunities in the post-Covid world. As business travel rebounds, companies are rethinking their travel strategies to align with modern traveler expectations. Domestic airlines are benefiting significantly from corporate travel, with approximately 40% of their revenue coming from coded fares, including those for corporate and SME clients. Around 25% of these bookings are made directly through corporate contracts, while 15% are handled by agents or online travel agencies (OTAs) booking for corporate and SME clients. This positions the domestic corporate air travel market as a $3.4 billion industry. Business and professional travel accounts for 17% of Indian departures, with the international corporate air travel market valued at $2.2 billion. Nearly half of all corporate travel spending is directed toward air travel, highlighting its pivotal role in the industry. The Deloitte report also emphasizes the role of travel management companies (TMCs) in driving the corporate travel industry toward greater innovation, cost-efficiency, and sustainability. These companies have revamped their approaches, leveraging AI-powered chatbots and other digital tools to meet the demands of modern business travelers. As the corporate travel sector continues to expand, businesses and travel providers alike are adapting to new trends, ensuring that India remains a key player in the global travel market.

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India’s Travel Industry Surges To $53 Billion, With Airlines And Hotels Taking An Astonishing 70% Share

A recent report by Deloitte revealed that in 2023, airlines and hotels were dominant players, capturing 70% of India’s booming $53 billion travel industry. This highlights the significant role these sectors play in shaping the country’s travel market. The report also emphasized that the remaining 30% of the market share is attributed to railways and other transportation services, underscoring a clear divide in consumer preferences within India’s travel landscape. Corporate travel, valued at an impressive $10.6 billion, constitutes 20% of the total travel market. Within this segment, airlines and hotels have a strong presence, contributing a combined 85% to its overall value. This statistic further solidifies their influence on the travel industry, particularly in corporate settings where convenience and reliability are key. The report points to the increasing preference for air travel and hotel stays among both corporate and leisure travelers. The growing popularity of these services signals a shift toward more premium and efficient travel solutions, reflecting broader trends in the way Indians approach travel. As disposable incomes rise and time becomes a critical factor, airlines and hotels continue to cater to evolving demands for seamless travel experiences. Overall, the Deloitte report sheds light on the ever-growing dominance of airlines and hotels in India’s travel industry. Their contribution not only to the leisure sector but also to corporate travel demonstrates their integral role in meeting the needs of modern travelers. With significant market shares, these industries are set to maintain their stronghold, shaping the future of India’s travel ecosystem. The report projects that India’s corporate travel market will experience significant growth, with its value expected to double to $20.8 billion by the 2029-2030 financial year. This surge highlights the increasing demand for business travel, reflecting the expanding corporate landscape and economic development across the country. Additionally, the report reveals a growing focus on sustainability, with approximately 50% of business travelers prioritizing environmentally-friendly travel practices. This shift demonstrates the rising awareness of sustainability in the travel sector, as companies and individuals alike are increasingly adopting eco-conscious strategies for their business trips. In 2023, Indian travelers demonstrated a strong preference for international trips, with five key destinations attracting more than 55% of outbound tourism. These top five countries include the UAE, Saudi Arabia, the US, Singapore, and Thailand, all of which are popular for their diverse attractions and connectivity to India. The UAE, in particular, has long been a favored destination due to its proximity, luxurious lifestyle offerings, and business opportunities. Similarly, Saudi Arabia’s religious significance continues to draw millions of Indian pilgrims annually, while the US, Singapore, and Thailand appeal to leisure, business, and adventure seekers alike. In addition to international travel, India’s domestic tourism market experienced a notable resurgence, with states and Union Territories reporting around 2.3 billion tourist visits. This impressive figure mirrors pre-pandemic levels, reflecting the rejuvenation of local tourism as Indians increasingly explore their own country. The growing infrastructure, coupled with renewed interest in cultural and religious travel, contributed to this domestic tourism boom, with many regions capitalizing on the demand for short-haul trips and staycations. India’s rich and diverse travel landscape, both domestically and internationally, offers an array of experiences catering to different preferences and interests. Whether it’s exploring the bustling cities and scenic landscapes of India or venturing to popular global destinations, Indian travelers continue to play a crucial role in shaping tourism markets. The recovery of both international and domestic tourism signifies the growing importance of travel in the lives of Indians, who are eager to reconnect with the world and rediscover their homeland.

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Kerala Travel Mart to Bring Together Global Stakeholders

The Kerala Travel Mart (KTM), India’s largest tourism buyer-seller event, is set to take place from September 26th to 29th, 2024, in Kochi. This biennial event, renowned for its unique focus on promoting Kerala as a top travel destination, serves as a dynamic platform for networking, partnerships, and showcasing the state’s exceptional tourism products. Organized by the Kerala Travel Mart Society, this prestigious event underscores Kerala’s commitment to sustainable tourism, innovation, and global visibility. With stakeholders from across the globe attending, the Kerala Travel Mart is poised to significantly enhance the state’s tourism landscape. The Kerala Travel Mart Society: A Pillar of Kerala’s Tourism Industry Formed in 2000, the Kerala Travel Mart Society (KTM Society) was established with a clear mission: to promote tourism and its allied activities in Kerala. The Society aimed to create a dedicated platform where international travel agents and local service providers could interact, network, and forge long-lasting partnerships. This initiative has since grown into a vital component of Kerala’s tourism infrastructure, setting a professional benchmark and driving the state’s tourism development. Unlike any other tourism event in India, the Kerala Travel Mart focuses exclusively on one state, showcasing the unique experiences and products that Kerala has to offer. A Catalyst for Growth: The Role and Impact of KTM Society Since its inception, the Kerala Travel Mart Society has been instrumental in shaping the state’s tourism sector. Operating as a non-profit organization, the society represents the interests of various tourism-related industries, from hotels and resorts to tour operators and service providers. By curating a platform that integrates the best of Kerala’s tourism offerings, KTM Society has played a pivotal role in advancing the state’s reputation as a premier travel destination. The society’s rigorous standards in vetting service providers ensure that visitors have access to high-quality experiences, further elevating Kerala’s appeal to both domestic and international travelers. The Kerala Travel Mart Event: A Hub for Global Tourism Networking The Kerala Travel Mart event is a cornerstone of Kerala’s tourism strategy, held every two years to connect global travel agents with local tourism stakeholders. This gathering provides a comprehensive view of Kerala’s diverse attractions, ranging from its serene backwaters and lush hill stations to its vibrant culture and wellness tourism offerings. Buyers have the opportunity to experience firsthand the state’s unique tourism products, while sellers gain insights into global market trends and demands. The result is a dynamic exchange of ideas, fostering innovation and growth within the industry. Navigating Challenges: KTM’s Adaptation to the Virtual Realm In 2021, in response to the global pandemic, the Kerala Travel Mart Society demonstrated resilience and adaptability by transitioning to a virtual platform. KTM Virtual 2021 allowed registered buyers and sellers to connect seamlessly through digital means, ensuring that the momentum of the event was maintained despite the unprecedented circumstances. This virtual format provided a safe and effective way to continue promoting Kerala’s tourism potential and facilitated meaningful interactions between global buyers and local sellers. The upcoming 2024 event marks a return to the physical format, promising an even more robust platform for collaboration and networking. A Blend of Tradition and Modernity Kerala’s tourism is not just about its natural beauty; it is also a celebration of its vibrant culture and traditions. Visitors can explore historic temples, enjoy traditional dance performances, and participate in local festivals. The state’s cuisine, with its unique blend of spices and flavors, offers a culinary journey like no other. Whether you are a first-time visitor or a returning traveler, Kerala’s blend of tradition and modernity ensures that there is always something new to discover. A Gateway to the World: Kerala’s Connectivity and Accessibility Kerala is well-connected, with four international airports providing easy access to travelers from around the world. The state’s extensive network of roads, railways, and waterways makes it convenient for visitors to explore its diverse attractions. Whether you are traveling to the serene backwaters of Alleppey, the misty hills of Munnar, or the cultural hub of Kochi, Kerala’s efficient transportation system ensures a hassle-free journey.

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Discover the Beauty of Madhya Pradesh at Japan Expo 2024

Madhya Pradesh Tourism is set to take part in the highly anticipated JATA Tourism Expo Japan 2024, scheduled from September 26 to 29 at Tokyo Big Sight, Japan. This global platform presents an ideal opportunity for Madhya Pradesh to showcase its diverse attractions, aiming to engage Japanese travelers and enhance tourism collaboration between the two regions. Known as the “Heart of India,” Madhya Pradesh boasts a rich cultural heritage, thriving wildlife, and stunning landscapes, positioning itself as a unique, offbeat travel destination. The state is home to multiple UNESCO World Heritage Sites, including the exquisite Khajuraho Group of Monuments, renowned for their intricate carvings, and the ancient Buddhist stupas at Sanchi, one of India’s oldest stone structures. Additionally, the Bhimbetka Rock Shelters and 11 other sites from Madhya Pradesh are under the UNESCO Tentative List of Heritage Sites, highlighting the state’s archaeological and geological significance. For wildlife enthusiasts, Madhya Pradesh offers exceptional opportunities for tiger safaris at its renowned national parks, including Kanha, Bandhavgarh, and Pench. Adventure seekers can enjoy activities such as river rafting in Orchha or exploring the only hill station in the state, Pachmarhi. The state also features sacred cities like Ujjain and Omkareshwar, offering spiritual and cultural experiences. A key focus for Madhya Pradesh at the JATA Expo will be its rich Buddhist heritage. The ancient Buddhist site of Sanchi, a UNESCO World Heritage Site, stands as one of India’s most significant Buddhist landmarks. The stupas, temples, and monasteries at Sanchi, along with nearby Buddhist sites like Satdhara, Sonari, and Andher, underscore the deep spiritual connection between India and Japan. Sheo Shekhar Shukla, Principal Secretary, Tourism & Culture, and Managing Director of the Madhya Pradesh Tourism Board, stated, “Our participation in the JATA Expo Japan is focused on positioning Madhya Pradesh as a key destination for Buddhist pilgrims and cultural travelers from Japan. With iconic sites like Sanchi and a serene, spiritual ambiance, we believe Japanese tourists will find deep meaning in visiting our state.” Madhya Pradesh Tourism is committed to promoting sustainable tourism while offering travelers a rich blend of cultural heritage, wildlife, spirituality, and adventure. Through its presence at the JATA Tourism Expo, the state seeks to attract Japanese tourists, particularly those interested in cultural and spiritual journeys. The delegation from Madhya Pradesh Tourism will be available at Stall No. R-139 to provide information on the state’s offerings and engage with attendees. About Madhya Pradesh Tourism Madhya Pradesh is celebrated for its historical significance, natural beauty, and vibrant culture. The state is a treasure trove of UNESCO World Heritage Sites, wildlife reserves, sacred temples, and adventure activities. The Madhya Pradesh Tourism Board aims to enhance the state’s global presence through sustainable and responsible tourism practices.

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Kolkata’s iconic 150-year-old tram service faces discontinuation

Kolkata, the last Indian city to operate trams, is set to bid farewell to its 150-year-old tram service as the West Bengal government has decided to discontinue most of its routes. Transport Minister Snehasis Chakraborty announced the decision, citing increasing traffic congestion in the city as a primary reason. However, the historic stretch between Maidan and Esplanade will continue to operate, preserving a part of the city's cultural heritage. This decision, however, did not sit well with the locals. Many residents and tram enthusiasts are disappointed with this decision because they view the trams as a significant part of Kolkata's history and identity. Did you know that the trams were introduced in 1873 as horse-drawn carriages? For as long as one can remember, the trams have played a central role in Kolkata's public transportation system. Because of their presence for over a century, the people always associated trams with Kolkata. With this new decision, Kolkata will lose one of its most distinctive features. It's true that the trams were one of the many things that set Kolkata apart from other Indian cities. It's true that heritage and nostalgia are associated with the trams. If reports are to go by, the government maintains that the decision is purely driven by practical concerns. According to the transport minister, Kolkata's narrow streets and limited road space account for only six percent of the city's surface area. The roads are increasingly unable to accommodate the slow-moving trams. The number of vehicles on the roads are not decreasing, so this can only mean that in the near future, the problem of traffic jams during the peak hours is only going to get more difficult. At present, traffic congestion is one of the city's woes. The city has already suspended several tram routes across the city. Is this a gradual phasing-out of the service? It definitely looks like it. The government, however, plans to continue the heritage tram line from Maidan to Esplanade. With this line still available, the locals and tourists will still be able to experience Kolkata's historical charm. Not all will be lost. As per the state government, this heritage route will continue to provide a pleasant and eco-friendly travel experience in the city. The decision to discontinue the tram service has sparked protests among locals. They are of the opinion that the trams are not just a mode of transportation, they are also a symbol of the city's rich cultural legacy. Losing this would mean losing a very big part of the city's heritage.

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'Spectacular Saudi' event kickstarts in Mumbai with exclusive VIP showcase

If you are in Mumbai, here’s one event you should NOT miss. Saudi Arabia’s national tourism brand, 'Saudi Welcome to Arabia,' has launched its first-ever immersive consumer event, 'Spectacular Saudi,' in Mumbai. This 8-day event will run from September 25 to Oct 2, 2024 at R2 Ground in Bandra Kurla Complex. Even though the actual event starts from today, September 25, there was an exclusive VIP showcase yesterday, September 24. It was a star-studded event where several leading figures from Bollywood, business, sports, and fashion were present. Bollywood stars like Vicky Kaushal, Shraddha Kapoor, Bhumi Pednekar, Arjun Kapoor, Aditya Roy Kapoor, Sonakshi Sinha, and Suniel Shetty completely stole the show. The event also saw renowned fashion designers Gaurav Gupta and JJ Valaya, and India’s sports icons like Sania Mirza, Saina Nehwal, PV Sindhu, and Mary Kom. Spectacular Saudi key highlights One of the event’s most interesting highlights is the exclusive fast-track visa service available for those who are attending. For Indian travellers, if you are attending the event, you can obtain a Saudi visa within 48 hours just by presenting a valid Mastercard or Visa credit card. Along with the exciting fast track visa offer, the event goers will also be able to avail the special ‘buy one, get 50 percent off on the second ticket' offer for business class passengers. This offer comes from SAUDIA Airlines. For Economy class travellers, there is a 15 percent discount on their tickets. But wait, that’s not all. There is also a daily giveaway where event attendees have the chance to win free flight tickets for two to Saudi Arabia. Travellers can also avail over 50 travel trade offers, including cashback and discounts on Saudi travel packages. For instance, group tour packages to Riyadh, Jeddah, and Dammam start at INR 99,999 for five nights. This comes with complimentary cultural city tours. For those who are dreaming to visit the wonderful Saudi Arabia, this event is a great chance to avail unique offers and packages. But before you visit Saudi, you might wonder about the country’s cultural experiences. Don’t worry, at the event, visitors can enjoy a variety of Saudi cultural experiences, including traditional Saudi coffee and culinary delights. Visitors can also watch the Ardah dancers and fashion displays.

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