Rupee depreciation will not impact business travel in India as corporates will look overseas to expand exports, according to the Global Business Travel Association.
The association is a research and advocacy group and its members include travel managers from top global companies. The GBTA has set up an India chapter after having representation in Brazil, Russia and China. According to GBTA’s forecast, India is becoming a major global business travel market and expects business travel spend in India to grow 13 percent till 2017. In 2012, India surpassed Canada to become the 10th largest business travel market in the world.
“There are always factors that will on a short term basically put any forecast off course. But I think you need to l look at the long term development. A lower rupee should also stimulate exports and exports stimulate business travel on international sectors. It (rising dollar) makes travel expensive but you still have to sell your products. Business travel spend in India is booming and will go up to $ 40 billion in next three years. This will bring to focus importance of effective travel management,” Welf J Ebeling, vice president (operations- Asia) of GBTA said here on Tuesday.
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