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For Immediate Release
14 September 2005
India: The Makings of Another Giant
Singapore (13 Sept.) -
On 29 September, the Association of Corporate Travel Executives
(ACTE) and the region's business travel industry will turn
its attention towards India. The Indian economy, predicted
to be the third largest by 2025, is growing quickely. Moreover,
the combination of general exuberance in its business data
and high travel figures strongly suggests that business travel
will increase at a drastic pace in the South Asian nation.
Severe shortages that are already occurring are becoming a
regular complaint among business travellers, with travel rates
hitting unprecedented highs. Managed travel practitioners
attending a recent educational seminar presented by two industry
professionals at ACTE's Regional Conference in Singapore—Karina
Harris, Asia-Pacific Travel Manger, BP and Bicky Carlra, Managing
Director & Senior Vice President, Asia-Pacific, TQ3 Travel
Solutions, Asia-Pacific—feel that the problems with
travel in India are inevitable. Attendees also expressed that
the earlier that companies begin to appreciate the details
of India's current pressures, the more likely that their programmes
will be grounded on realistic goals and have a greater chance
at success.
Figures presented at the ACTE Asia-Pacific
Conference illustrate the high incidence of travel in India:
- India's corporate travel market is estimated to be worth
at least $3.5 billion USD annually
- Annual domestic air travel is 15 million passengers and
yearly growth rate is 25 percent; 75 percent of this growth
is attributed to business travel
- Air travel is less tightly regulated than similar markets
and India already has open skies agreements with the United
Kingdom, United States, Singapore, and Australia
- An estimated 7,000 companies are listed on the stock
exchange making the Indian stock exchange almost equivalent
to the number of listings on the NYSE
With such inspiring numbers there is the
danger of over-looking the manner in which travel policies
and programmes should be administered. Traditions are a daily
part of doing business in India's diverse markets, and understanding
them provides clarity in decisions concerning strategy development.
The serious investor takes stock of these influences and the
infrastructure and tempers the temptation to take a unilateral
approach to business negotiations.
The Bangalore forum will address two pertinent
presentations that are parts of the larger agenda for ACTE's
mission in India and throughout the globe. ACTE is driven
to build bridges of respectful understanding between markets,
a point stated by ACTE's President, Greeley Koch in his opening
address at the Asia-Pacific Regional Conference in Singapore
on 24 August. At the Bangalore Executive Forum, two seminar
topics addressing "Changing the Face of the
Industry in Travel Management Programmes - Taking the Emotion
Out & Keeping the Personal Touch In"
and "Distribution Channels - Traditional
v. High Tech" are part of the forum's educational
programme, which will end with a networking lunch. The Executive
Forum will also reveal the top-line findings of the first
independent survey of the top ten concerns regarding the managed
travel practice in India. The forum will be held at the Taj
Westend in Bangalore from 0830 - 1400.
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To register for this forum contact ACTE at:
Email [email protected]
Tel: 65-6336 4341
Fax: 65-6336 2583
Or register online at http://acte.org/events/bangalore_092905/teaser.shtml
The Executive Forum is made possible with the support of
these generous organisations: Global Executive Forum sponsors
- Airplus International, Travelport, Asia-Pacific Executive
Forum sponsors: American Express, Business Travel International,
Cathay Pacific Airways, MasterCard Corporate Payment Solutions,
and Raffles International Hotels & Resorts, and local
Executive Forum sponsors: SkyTeam, Taj Westend, TQ3 Travel
Solutions, and TRX.
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