How India Became One of the Fastest‑Growing Business Travel Markets

India is among the fastest growing markets for business travel spending, according to the Global Business Travel Association (GBTA). Business travel worldwide is expected to reach an all-time high of $1.57 trillion by the end of 2025, as per GBTA’s projections.

While the global year-on-year growth rate is expected to stand at a moderate 6.6% this year due to “trade tensions, policy uncertainty and economic pressures,” GBTA expects this growth to rebound to 8.1% next year. Still, India, along with South Korea and Turkey, are among the fastest-growing business travel spending markets among the top 15 markets.

In March, at the GBTA-powered FCM Corporate Travel Summit in India, Elle Ng-Darmawan, GBTA’s regional director for APAC said that business travel spending in India stood at an estimated $38.3 billion. It was the eighth largest market in the world for travel spending in 2024.

As per GBTA, India is the fourth largest market for business travel in Asia Pacific.

Big Bets on Business Travel: GBTA projects a full recovery in India’s business travel spending to pre-Covid levels this year.

Travel companies in India are also increasing their focus on corporate travel. Online travel company Yatra, which has pivoted its focus to corporate travel to drive profitability, is doubling down on this segment.

The results of Yatra’s January to March quarter were driven largely by the strength of enterprise travel and meetings. During the earnings call for the quarter in May, the company announced its plans to launch a co-branded credit card aimed at corporate customers. “Corporate travel is now 65% of our gross bookings, and we expect this share to increase,” Wholetime Director and CEO Dhruv Shringi said.

Earlier this month, hospitality company Oyo partnered with Yatra to tap into the business travel segment. Yatra’s platform has already onboarded more than 500 of Oyo’s company-serviced hotels, and Oyo is planning to add another 1,000 company-serviced hotels to the Yatra platform by September.

According to Oyo, the partnership will strengthen Yatra’s inventory, especially in emerging metros where the demand for quality accommodation is surging due to increased business travel. “While direct demand continues to be our mainstay, contributing nearly 80% of our total business, we are now looking to tap into a niche segment of business travelers who are exploring emerging business hubs,” said Oyo’s Chief Operating Officer Varun Jain.

Last December, online travel agency EaseMyTrip launched EMT Desk, its “all-in-one platform” for corporate travel needs as it includes a dedicated travel manager for each corporate client to provide planning and budget analysis. EaseMyTrip highlighted that the platform also allows expense tracking, report generation, and travel policy management.

In November, MakeMyTrip acquired expense management platform Happay from Indian fintech company CRED. The move was aimed to allow the OTA to deepen its hold on the growing corporate travel market.

On Thursday, MakeMyTrip announced it has launched a platform for booking international tours and experiences giving Indian travelers access to over 200,000 activities in 130 countries, Skift reported. Last year, Co-Founder and Group CEO Rajesh Magow had told Skift that the online travel agency would be bringing back experiences. MakeMyTrip had a similar product for attractions before the pandemic. The company shelved it during Covid.

Experiences are a big part of travel spending. Magow noted in a release on Thursday, “Experiences account for a significant share of spending when Indians travel overseas, yet discovering and booking them remains one of the most fragmented aspects of the journey.”

The move is a piece of a much larger plan the company has been working on for years: to become a one-stop platform for every part of the trip and to keep more of the traveler’s journey within its ecosystem.

Since the pandemic, the company has expanded into several new areas — forex, car rentals, business travel tools, and even travel insurance.

Hotel chain Sarovar Hotels has entered into a partnership with regional Indian airline Fly91. The partnership aims to capitalize on the regional tourism boom in India.

Under the partnership, Fly91 customers will get a 20% discount on room bookings and food and beverage at Sarovar Hotels located in Goa, Sindhudurg, Pune, Bangalore, Hyderabad, and Solapur. Guests staying at Sarovar Hotels will be able to avail a 10% discount on Fly91 base fares across all sectors.

“By combining hospitality and regional aviation, we are not only enhancing guest experiences but also contributing to the growth of tourism in India’s emerging destinations,” said Akshay Thusoo, senior vice president – Commercial at Sarovar Hotels.

The Taiwan Tourism Association (TTA) has launched a new campaign in India – Waves of Wonder. The campaign aims to position Taiwan as a golf tourism destination among India’s luxury, high net worth individuals, and corporate travelers.

Under the campaign, Taiwan is looking to offer tailored golf packages integrating golfing experiences with luxury resorts, wellness retreats, fine dining and high-end shopping. These packages will cater specifically to Indian golfers and corporate groups looking for unique incentive trips.

The tourism association is also expanding its outreach in India by partnering with travel agencies and industry stakeholders in east India. It also held a dedicated roadshow in Kolkata. This comes as Taiwan registered a 20.81% surge in tourism from India last year.

Budget airline SpiceJet has finalized a lease agreement for five Boeing 737 aircraft. These planes are expected to join the carrier’s fleet in October this year.

According to SpiceJet, the new planes will cater to the peak winter season as well as the early summer season next year. The airline said that the planes are being inducted on a damp lease basis, with the operational crew being shared between SpiceJet and the operator.

“SpiceJet is also in advanced discussions with other lessors to further enhance its fleet and strengthen both domestic and international operations,” the airline said in a statement.

At the ASEAN-India Forum held last week, Association of Southeast Asian Nations (ASEAN) and India discussed strengthening two-way travel and positioning the region as a top destination for Indian travelers.

“Within the ASEAN-India cooperation framework, tourism has long been a pillar of mutual growth,” said Pattaraanong Na Chiangmai, Tourism Authority of Thailand’s (TAT) deputy governor for international marketing in Asia and South Pacific. “Thailand sees tremendous potential in strengthening two-way travel between India and ASEAN—delivering shared benefits across the region,” she added.

During the forum, travel players discussed the Indian wedding and honeymoon market. “Tourism leaders from ASEAN and Thailand discussed the region’s potential to host large, multi-day celebrations that demand culturally sensitive services, from vegetarian catering to luxury hospitality,” TAT said in a statement.

Discussions were also held to address challenges around visas, connectivity, marketing, and niche offerings. The forum aligned with the ASEAN-India Cooperation Work Plan 2023–2027.

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