What’s the Solution to Optimizing Your Business Travel in India?
Business or Corporate Travel : Since decades, has been a focus area for major travel companies across world. Traditionally, corporate travel management companies have managed travel needs of corporations and in last decade, online specialist travel agencies in current market have cropped up in big numbers, thanks to e-commerce boom, and competing to grab this market share.
Last couple of years have seen consolidation among big and mid-size TMC’s across globe.
While business travel market in Americas and Europe is matured (as evident from market consolidation), standardized and professional, same can not be said for Indian business travel market. I believe and many business travel veterans will agree that Business Travel market in India is under-served and with no real innovation. A few major Indian travel companies boast of business specific travel tools but they are either not customized to Indian business needs or bereft of innovation. According to last year reports from Global Business Travel Association, current business travel market size in India is USD 30-35 Bn which is expected to more than triple by 2030. Now compare this with Brazil, which was considered as fast growing as India but faltered in last 3-4 years, which can be noted from decline in business travel there in last 2 years. Further, India is expected to become bigger business travel market than next 3 ranked countries combined, by 2030. This huge market size along with unmet need of focused business travel solutions, presents an opportunity to create value for business travelers and the industry as a whole. I sincerely hope, as a business traveler and travel industry insider, that in coming years we see some of the following developments and innovation.
- Scalable and focused business travel solutions/platforms for Indian businesses
- ML & AI capabilities to identify right offerings for companies
- Ancillary services to business travelers which are valued by them
- Niche business travel solutions for Indian SME industry
i2space platform currently empowers 300+ customers across 15 countries, across 50+ suppliers, 150+ LCC and 600+ GDS Airlines, 29 (NDC) Airlines , 800,000 Hotel Properties, 147,000 Car Rental Inventory, 30+ payment gateway globally. Our platform helps travel businesses focus more on their business and worry less about technology.
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