American Express Center For Economics And Business Research Businesses Travel Report

The cases of corona epidemic have been controlled almost all over the world and with this many sectors have started recovering from its effects. Sectors like travel, hotels were more affected during the pandemic. Now improvements have started to be seen in them and with this the journeys have started picking up. According to a recent report, according to the changed trend, Indian companies of many sectors are increasing their business travel budget. With this, employees working in such companies can get more opportunities to travel abroad during the year 2023.

What came out in this report

American Express India in collaboration with the Center for Economics and Business Research has prepared the report ‘Revival of business travel: An India perspective’. According to the report, most of the Indian companies can increase their travel budget during 2023 as compared to last year i.e. 2022.

So many companies are increasing the budget

This report has been prepared on the basis of a survey. The Business Travel and Entertainment Survey found that 67 percent of Indian companies expect business travel to pick up in 2023. At the same time, 77 percent of the companies say that they can increase their travel budget this year. 79% of Indian companies surveyed use business travel data analytics for travel booking and spending. This shows how important technology has become for the travel sector.

government employees at the forefront

Many more interesting things have come to light in the report. For example, 53 percent of companies said that during the last six months of the last year, about half of their employees went on domestic or foreign work trips. At the forefront of these were the employees of government companies. During this period, 64 percent of the employees of government companies traveled in connection with work. It was followed by marketing, sales, real estate, professional services and pharma sector.

Due to this trend is increasing

As per the report, Indian companies are increasingly exploring cost-effective solutions to keep up with the changing times. For this reason they are sending their employees out. However, a trend also emerged during the pandemic, which is stopping the entire boom in business travel. Now meetings and other programs are happening more virtually than before. In such a situation, the need to travel for work has reduced.

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