09 December 2019

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Pocket Friendly Business Travel

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From the  Editor's Desk

Business and travel can be termed the two sides of the same coin. For any business, time is money and the more time is saved, the more profit the business generates. Business fraternity all over the globe wants to cut short the time and expenses they spend on business travel.
The current business travel segment in India is poised as a result of India’s strong and balanced economy. Besides India is fast becoming one of the most preferred destination for investment opportunities. According to a report by the World Economic Forum, the contribution of travel and tourism to gross domestic product (GDP) is expected to be at US$ 187.3 billion by 2019 globally. The Indian government Foreign Direct Investment (FDI) policies and incentives attract overseas investors, particularly for capital-intensive industries in India. This has further boosted the growth potential of travel segment in India tremendously.

Adding cement to this, around 40 plus overseas brands are planning to enter the Indian Travel & Hospitality segment, with an investment plan pegged at around Rs/-50,000 crore! These major global players have tailor made economy packages aimed at the business community.

Mr. Dileep, Senior Executive at an International Travel & Hospitality group in Bangalore says that India’s strong economy despite the recession blues is the major feel good factor for overseas firms to invest in India. He states that top level business honchos frequent India for multi level business strategy plannings and meetings. This in fact is a good news for the Travel&Hospitality segment in India. Various service providers in the travel industry work out different packages to meet the ever growing demand for ‘Budget travel’. “We get a lot of enquiries from various companies for both inbound and outbound travel and accommodation especially for the budget packages. Most of the leading hotel chains in India and abroad have special packages exclusively for business class,’’ he adds. "Since we have tie ups with most of the service providers like hotels, other regional and international destination management service providers, we can work out customised packages for the clients.  This will help them to save both money and time. The package includes food and accommodation, transportation air/road/sea/rail etc".

He says that clients’ feedback on the services provided is vital. “The feedback from the clients will help us to fine tune our services and fix any missing elements from the travel package we provide”, adds Mr. Dileep.

With more palyers foraying into Travel&Hospitality segment in India, the coming years will witness a boom and tougher competition among the service providers. This will a be a boon for the country’s economy, and will make the business travel more pocket friendly for business men and women.


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