FCM Travel India is bullish about prospects of business travel from Southeast Asia, Greater China and its youngest source market of Japan. Sunny Sodhi, Managing Director, FCM Travel India spoke to Disha Shah Ghosh about the MICE segments driving growth, and their focus areas.
Q. In terms of global pecking order as well as its position in the APAC region, where does India rank as a source market for business travel?
A. India is the 9th largest market in the world based on business travel spending. It is the 4th largest market in the Asia Pacific region, representing 5.7 per cent of business travel spend in the region.
Q. What has been the growth of the business travel segment in India during 2023, and your forecast for 2024?
A. FCM Travel India has seen an overall business growth of more than 20 per cent in 2023 compared to 2019. FCM India’s Meetings & Events revenue has also doubled. With India’s GDP estimated to grow at 6.8 per cent in 2024, we expect a robust year ahead.
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