Corporate Travel Spending to Grow 18% in 2024

Indian companies are opening their wallets wider.

Corporate travel spending in India is projected to grow by 18% in 2024, fueled largely by the rapid expansion of MICE tourism—Meetings, Incentives, Conferences, and Exhibitions. After years of virtual meetings during the pandemic, businesses are returning to face-to-face interactions, conferences, and global corporate events.

Industry forecasts suggest that India’s corporate travel market could reach $50 billion by 2025, according to estimates from the aviation research firm Centre for Aviation.

But this growth is not just about airline tickets or hotel rooms.

The real momentum lies in large-scale corporate events and business gatherings that require comprehensive planning—from venue selection and logistics to transportation, accommodation, and curated team experiences.

Major cities such as Mumbai, Bengaluru, Delhi, and Hyderabad are emerging as key hubs for corporate events, supported by modern convention centers, luxury hotels, and improved air connectivity.

International destinations are also positioning themselves to attract Indian corporate groups, particularly for incentive travel and leadership retreats.

For travel professionals, this surge signals a shift in priorities. Corporate clients are increasingly seeking end-to-end travel management solutions rather than fragmented services.

This means managing everything—from flights and hotel bookings to conference venues, team-building experiences, and seamless transportation.

In short, the return of in-person business engagement is reshaping the travel landscape—and creating one of the most lucrative opportunities in the tourism sector.

B2B Takeaway

The MICE boom is emerging as a major revenue driver for travel companies. Instead of focusing only on ticketing or hotel reservations, travel businesses should design bundled corporate packages that include venues, curated team activities, accommodation, and smooth logistics. End-to-end corporate travel solutions will define the next growth phase of the industry.

Sources:     RBI, CAPA, ONDC, KPMG, Deloitte, Gartner, IBEF