A recent report by the World Economic Forum on ‘What will travel look like in 2030?’ predicted that international tourist arrivals might reach 1.8 billion by 2030, from 1.2 billion in 2015. Travel and tourism industry has been reported as one of the fastest growing economic sectors in the world and its diversification across all categories adds to its growth.
Going by the initial definition of travel, it was confined only for the leisure travellers however, with the surge of corporate travellers across the world, the total growth of international travel increased manifold. In this recent report, it has been found that Africa will be the biggest winner with an increase of 157% in the number of outbound tourists, from 35 million in 2015 to an estimated 90 million in 2030.
Keeping the millennial business class rise in mind, diversity in products and travel services in the tourism market has become mandatory. Company executives and representatives are often on the move to attend events, meetings, and conferences and are required to remain connected and productive throughout. Although unforeseeable economic downturns, changing business models and rising costs of travel affect the budgeting of international travel plans; companies, thus are increasingly getting dependent on corporate travel solutions and partnerships with travel agents.
Online travel agents thus regulate special rates for corporate and in return streamline the entire travel processes. The loyalty programs call for more than just an e-biz relationship and create a business partnership drive to address the supply and demand.