Business Travel on the Rise: USD 1.8 Trillion Forecast by 2027 Predicts GBTA 2023 Index

Business Travel on the Rise: USD 1.8 Trillion Forecast by 2027 Predicts GBTA 2023 Index

By Author

Published on December 23, 2023

As the world marches towards 2027, the global business travel sector is poised to reach a staggering USD 1.8 trillion, marking a significant leap in the industry. The 2023 GBTA Business Travel Index Report has shed light on this remarkable growth, indicating a faster-than-expected rebound. In 2023 alone, business travel spending rose by 47 percent, reaching USD 1.03 trillion, and is projected to continue its upward trajectory.

Last year's business events scene painted an equally impressive picture. The ICCA statistical forecast revealed an astonishing 349 percent increase in in-person events. Out of the 10,602 recorded business events globally, 9,009, accounting for 85 percent, were in-person, with the Middle East leading the charge. The region accounted for the highest percentage of in-person delegates at 94 percent, as per the official figures.

Looking ahead, the Arabian Travel Market (ATM) 2024 is setting the stage for a groundbreaking collaboration. Slated from May 6-9 at the Dubai World Trade Centre, ATM has joined forces with the International Congress and Convention Association (ICCA) and the Global Business Travel Association (GBTA). This strategic alliance, designating ICCA and GBTA as 'Knowledge Partners,' is a testament to ATM's commitment to enhancing the value and innovation of its regional trade show. This partnership is expected to offer profound insights and open new opportunities for the burgeoning business events and travel segments.

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The business travel industry's growth trajectory is complemented by an evolving landscape. Despite the global rebound, many firms are rethinking their travel strategies. The shift towards video conferencing and rail trips over flying, while slower to return business travel to 2019 levels, is a nod to environmental concerns. This trend is a balancing act between maintaining corporate relationships and minimizing overall emissions, reflecting a conscientious approach to business travel.

During ATM 2024, ICCA will delve into various MICE industry topics through seminars, while GBTA will unveil the prevailing trends in the business travel sector. These sessions are designed to provide attendees with valuable insights into recent research, innovations, and best practices.

The collaboration brings together diverse perspectives. Dr. Senthil Gopinath, CEO of ICCA, expresses enthusiasm about this inclusive approach, marking an exciting chapter for business events in future editions. Catherine Logan, Regional Senior Vice President EMEA and APAC at GBTA, emphasizes the MEA region's potential and its impressive recovery to 95 percent of pre-pandemic spending in 2022.

The upcoming 31st edition of ATM, themed 'Empowering Innovation: Transforming Travel Through Entrepreneurship,' focuses on exploring how travel and tourism innovators can attract greater funding and significantly boost the sector's contribution to the global GDP. Last year's event, with over 40,000 attendees, set a new benchmark, and this year's edition is poised to raise the bar even higher.


OTM 2025: Shaping the Future of Travel and Tourism

OTM 2025: Shaping the Future of Travel and Tourism

By Nishang Narayan

Published on January 18, 2025

OTM 2025, the premier travel trade show in India and Asia, is set to take place from January 30 to February 1, 2025, at Mumbai’s Jio World Convention Centre. With over 2,100 exhibitors, 40,000 buyers, and participation from 80+ countries, OTM promises to be a transformative event for the global travel and tourism industry.

This year’s edition will bring together a diverse mix of national tourism organizations, airlines, hotels, destination management companies, and travel tech innovators. Global VIPs, including Hon'ble Union Minister for Tourism and Culture Shri Gajendra Singh Shekhawat, Shri Omar Abdullah, and international leaders like H.E. Mr. Haim Katz (Minister of Tourism, Israel) and Mr. Khairul Firdaus Akbar Khan (Deputy Minister of Tourism, Malaysia), will grace the event.

Key Highlights of OTM 2025:

  • Exclusive Destinations: Countries such as Georgia, Greece, Israel, Japan, Morocco, and Peru will exclusively participate in OTM, showcasing offerings not seen at other regional travel events.
  • Networking Opportunities: Over 1,000 handpicked buyers from India’s Tier 1, 2, and 3 cities will connect with exhibitors and global destinations.
  • Thought Leadership: The OTM Forum will host discussions on key industry trends, including fireside chats with government officials and sessions featuring leaders from Airbnb, Skyscanner, Booking.com, and major corporations like Deloitte and L&T.
  • Specialized Events: Day 2 will highlight WeddingSutra Engage, a platform for wedding planners to explore trends in luxury celebrations and destination weddings.

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Expressing his enthusiasm, Mr. Sanjiv Agarwal, Founder & CEO of Fairfest Media, shared, “India is emerging as the future growth engine for global tourism. OTM 2025 will bring unmatched opportunities for the Indian travel industry to connect with international destinations and foster collaborations.”

OTM’s strategic location in Mumbai, which contributes to over 60% of India’s outbound travel, makes it the perfect venue for this event. The city’s role as a departure point for travelers underlines its importance in shaping the future of tourism.

About OTM and Fairfest Media:

OTM Mumbai is Asia’s leading travel trade show, creating unparalleled opportunities for the Indian travel industry to engage with global markets. Organized by Fairfest Media, the event attracts Tourism Ministers, CEOs, and industry leaders from around the world. With a legacy of organizing TTF-branded travel shows in seven Indian cities, Fairfest Media continues to be a pioneer in shaping the travel ecosystem in the world’s fastest-growing market.

If you are in the travel business, mark your calendars—OTM 2025 is the event you cannot afford to miss!


India Achieves Historic Space Milestone with Successful SpaDeX Docking

By Author

Published on January 17, 2025

In the early hours of January 16, 2025, India proudly joined an exclusive club of spacefaring nations with ISRO’s successful execution of the SpaDeX docking experiment. This accomplishment, which involved the precise docking of two small satellites—SDX01 (Chaser) and SDX02 (Target)—marks India as the fourth nation in the world to achieve this complex feat, following in the footsteps of the U.S., Russia, and China.

Launched on December 30, 2024, the SpaDeX mission was designed to demonstrate critical technology needed for spacecraft rendezvous, docking, and undocking using small satellites. ISRO’s Mission Operations Complex (MOX) in Bangalore oversaw the procedure, which included moving the satellites from a 15-meter hold point to a successful docking. Following the maneuver, ISRO confirmed the successful control of the two satellites as a single entity, with power transfer and undocking tests scheduled for the coming days.

The mission also serves as a critical building block for future space endeavors, including India’s plans for lunar exploration, astronaut missions to the Moon, and the development of the Indian Space Station. Additionally, the SpaDeX experiment demonstrates the transfer of electric power between docked spacecraft, a crucial step for in-space robotics, composite spacecraft control, and payload operations. ISRO's success with SpaDeX not only strengthens India’s position in the global space community but also sets the stage for future advancements in space technology.

Hospitalitynews is proud to witness and celebrate this remarkable achievement, marking another moment of national pride and technological advancement for India. This historic success enhances India's growing reputation in space exploration, and it is an inspiring achievement that paves the way for even greater milestones in the future.

Photo and video Credit: X/@ISRO


Shangri-La Bengaluru Appoints Shireen Sheriff as Director of Marketing and Communications

Shangri-La Bengaluru Appoints Shireen Sheriff as Director of Marketing and Communications

By Author

Published on January 16, 2025

Shangri-La Bengaluru, renowned for its blend of luxury and Asian hospitality, is pleased to announce the appointment of Shireen Sheriff as the new Director of Marketing and Communications. With an impressive career spanning over two decades across the hospitality, retail, and luxury sectors, Shireen brings unparalleled expertise and innovative thinking to the esteemed property.

Shireen’s illustrious journey began at Taj Fisherman’s Cove in Chennai, and she has since held influential roles across India, the Middle East, and Southeast Asia, including her most recent position as a Marketing and PR Consultant. Her strategic efforts have significantly enhanced the brand presence of luxury businesses, with a keen emphasis on digital transformation, branding, and guest engagement.

Vision and Leadership

In her new role, Shireen aims to integrate sustainability and technology into every aspect of the guest experience. She elaborates,

"It’s about offering guests not just luxury, but moments of connection and authenticity. Our goal is to create seamless journeys enriched by technology while fostering a more sustainable future in hospitality."

Under her leadership, Shangri-La Bengaluru’s seven dining outlets, including the renowned Shang Palace, Ssaffron, and Yataii, as well as the CHI Spa, will continue to shine as core elements of the hotel’s offerings. Shireen also plans to focus on storytelling and digital innovation, enhancing the brand’s engagement with its audience.

Words from the General Manager

Andreas Streiber, General Manager of Shangri-La Bengaluru, shared his enthusiasm for Shireen's appointment:

"We are thrilled to welcome Shireen to the Shangri-La family. Her vast experience and forward-thinking approach perfectly align with our commitment to delivering world-class Asian hospitality. We are confident her leadership will propel us to new heights in guest satisfaction and brand presence."

Beyond the Office

A passionate traveler, Shireen believes that “travels are the best teachers”, with markets and museums ranking high on her must-visit list. Her diverse interests include animal welfare, scuba diving, and art, reflecting a rich personal tapestry that complements her professional ethos.

About Shangri-La

Shangri-La is the iconic flagship brand of the Shangri-La Group, synonymous with heartfelt Asian hospitality. Known for its imaginative designs, cultural experiences, and authentic service, the brand operates in over 90 locations worldwide, from Australia to the United Kingdom.

About Shangri-La Circle

Shangri-La Circle is the brand’s travel lifestyle platform offering members exclusive benefits across 100+ properties worldwide, including restaurants, wellness facilities, and family experiences. For more details, visit the Shangri-La Circle website.

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