India identified as top market in business travel space at ITB Asia

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Updated: November 13, 2014 3:39 PM

Reema Lokesh – Singapore The BRIC countries are a focal point of discussion at most international trade events especially in the tourism space. Within them the I and C of the BRIC were vibrantly discussed at the Global Business Travel Association (GBTA) seminar at ITB Asia, which recently concluded in Singapore. GBTA’s Business Travel Index […]

Reema LokeshSingapore

The BRIC countries are a focal point of discussion at most international trade events especially in the tourism space. Within them the I and C of the BRIC were vibrantly discussed at the Global Business Travel Association (GBTA) seminar at ITB Asia, which recently concluded in Singapore. GBTA’s Business Travel Index (BTI) study also forecasts China to overtake the US as the world’s number one business travel market by 2016 and other Asia Pacific countries such as India and Indonesia to grow between 11-14 per cent annually over the next five years. According to Welf Ebeling, vice president, operations, Asia, GBTA, “Over the last 15 years, India has worked its way up the rankings of major global business travel markets from number 24 in 2000 to the world’s 10th ranked market in 2013. GBTA expects India to become the ninth largest business travel market within the next five years. He further added, “In Asia Pacific, there are a number of countries showing high growth in terms of business travel spend. These markets include Vietnam, the Philippines, Bangladesh and Sri Lanka. We forecast an average growth rate of 7.5-10 per cent annually in these markets.”

ITB Asia 2014, a three day travel trade event was held at the Sands Expo and Convention Centre, Marina Bay Sands, Singapore. 76 countries and regions took part in the event. This year also saw the strongest buyer participation to-date, with 14 per cent more buyers compared to 2013, informed Christian Göke, CEO, Messe Berlin, organiser of ITB Asia. He further added, “The MICE sector in particular is growing exceptionally, accounting for over half of the total business travel market. It is a resilient segment that is outpacing traditional corporate travel.”

“The dramatic progress of Asia’s travel and tourism markets, fuelled by the rising BRIC economies, testifies once again to the region’s immense potential for growth. Now, more so than ever, we need to encourage greater strategic collaboration among leaders of the industry. Over the years, ITB Asia has been incredibly valuable in delivering comprehensive market insights and important networking opportunities. We are confident that STB’s partnership with Messe Berlin will continue to boost the success of ITB Asia and anchor TravelRave’s status as the region’s premier travel and tourism week for the trade,” said Neeta Lachmandas, assistant chief executive, Singapore Tourism Board.

This year’s ITB Asia also witnessed a sizeable number of players in the technology space.

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