Global Corporate Travel Management Company, FCM Travel India, hosted its first FCM Corporate Travel Summit in Mumbai powered by the Global Business Travel Association (GBTA) with Hyatt India Hotels, Amadeus, and Singapore Airlines as sponsors. The summit was attended by more than 150 professionals from the travel industry, including key decision-makers. The event curated thought-provoking sessions for India’s business travel community which covered the latest business travel trends, technology, meetings and events, and sustainability. According to Sunny Sodhi, Managing Director of FC ..read more

Cvent has published the latest instalment of the Cvent Travel Managers Report: Europe Edition, which provides hotels, venues and destinations with in-depth insights into corporate travel sourcing trends and activity. The report reveals that a significant majority of respondents (80%) feel positive about the state of their organisation’s business travel activity. Among them, almost two-thirds (64%) expect their organisation’s travel volume to increase in 2023 compared to 2022, and nearly a fifth (19%) say the increase will be significant. Whilst travel growth means increased spending ..read more

GBTA’s annual forecast predicts a robust rebound in global business travel spending, reaching nearly $1.8 trillion by 2027, fueled by favorable economic conditions and pandemic response. The global business travel industry has rebounded at a more accelerated rate than expected just a year ago and is now expected to surpass its pre-pandemic spending level of $1.4 trillion in 2024 − and grow to nearly $1.8 trillion by 2027. In 2022, global business travel spending rose 47% to $1.03 trillion, with strong gains continuing and 32% growth expected in 2023. These robust gains were fueled by pent-up d ..read more

Rising fuel prices, labor shortages, and supply chain challenges, coupled with red hot demand, caused travel prices to skyrocket in 2022 – far surpassing some of the increases outlined in last year’s forecast. MINNEAPOLIS – Global business travel and events costs are set to climb higher through the remainder of 2023 and into 2024, albeit at a much more moderate pace than the exceptionally steep increases seen in 2022. This is according to the 2024 Global Business Travel Forecast, published today by CWT, the business travel and meetings specialist, and the Global Business Travel ..read more

The value of face-to-face is undeniable, with professionals estimating 25% more revenu when meeting in person. And the bottom line isn’t the only equation when workers need interaction with colleagues and associates for their mental health and job satisfaction. Is the business world still Zooming from home? Has corporate travel spending made a full recovery from the pandemic? Are carbon budgets replacing financial budgets? Accor’s Masters of Travel advisory board meeting brought industry leaders from technology, law, energy, engineering, and pharmaceuticals to Brussels to create a vi ..read more

92% of Travel Managers across Asia and Australia prioritise sustainability and environment-friendly venues during the planning Cvent published the latest instalments of the Cvent Travel Manager Report, which provides in-depth insights into current corporate travel trends and activity.  Regional editions with localised data sourced from hundreds of corporate travel decision makers were published for Asia, Australia & MEA. Collectively, the reports reveal significant levels of optimism amongst corporate travel managers and highlight the ..read more

Price Band fixed at ₹ 308 to ₹ 326 per equity share of face value of ₹ 2 each (“Equity Shares”) Bid /Offer Opening Date – Wednesday, August 24, 2022 and Bid/ Offer Closing Date – Friday, August 26, 2022 The Floor Price is 154 times the face value of the equity shares and the Cap Price is 163 times the face value of equity shares Bids can be made for a minimum of 46 Equity Shares and in multiples of 46 Equity Shares thereafter DreamFolks Services Limited (“the Company”) will open its Initial Public Offering (“Offer”) on Wednesday, August 24, 2022. The P ..read more

Rakesh Jhunjhunwala’s privately owned stock trading firm Rare Enterprises derived its name from the first two initials of his name and his wife Rekha. Condoling Rakesh Jhunjhunwala’s death, Prime Minister Narendra Modi said: ‘His passing away is saddening. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India’s progress.’ Veteran stock market investor Rakesh Jhunjhunwala passed away in Mumbai on 14th August 2022. He was 62. He was not keeping well for the past few days and breathed his last today in Breach ..read more

Buoyed by the ambitious objectives of the National Investment Strategy, the Ministry of Investment of Saudi Arabia (MISA) has signed 49 major investment deals worth at least $925 million in the second quarter of 2022. This is set to create about 2,000 new jobs in diverse sectors such as advanced manufacturing, construction and real estate, ICT, tourism, entertainment, and sports, says MISA’s Q2 2022 Investment Highlights report. Khalid Al-Falih, Minister of Investment, said: “The National Investment Strategy is a catalyst to deliver on our Vision 2030 national objectives of see ..read more

A strong increase in average yields and successful cargo segment drive positive quarterly result A boom in demand for airline tickets continues Load factors in premium classes above 2019 levels – recovery of business travel continues Group will be hiring around 5,000 new employees in the second half year of 2022 First European airline group: SBTi validates climate targets of the Lufthansa Group  Lufthansa Group specifies the outlook for the year and expects Adjusted EBIT above 500 million euros in line with market expectations Carsten Spohr, CEO of Deutsche Lufthansa AG, said:“The Lufth ..read more