Singapore Tourism Board (STB) and Web In Travel (WIT) together organised the inaugural India Travel Executive Forum in Bengaluru. The half-day event, themed ‘Deconstructing the India Story’, welcomed high-level speakers from India’s travel and tourism industry.
With technology adoption enveloping the travel and hospitality arena, it is imperative for the operators to fast track and be in sync with the connected travellers and latest trends in the sector, believes Yeoh Siew Hoon, Editor and Founder, WIT. “The Forum is a stark reminder that deconstructing the India story is never easy. But in the half-day event I believe WIT India tapped into a new optimistic mood for travel,” she added.
“Working with WIT to bring key insights from Singapore’s TravelRave to India enables the travel ecosystem here to plug into latest trends in travel technology, entrepreneurship and innovation across Asia,” said Chang Chee Pey, Executive Director, South Asia, Middle East and Africa, Singapore Tourism Board.
The Big Picture
The role of technology in travel comprises of a staggering percentage of the travel industry’s revenue – keeping up with its key trends is make or break if you wish to remain competitive in this space. “India’s online travel market is booming with online leisure/unmanaged business travel bookings projected to account for one third of the total Indian travel market,” Animesh Kumar, Head of Marketing, Yatra.
Agreeing with this fact, Mohit Gupta, Chief Business Officer, MakeMyTrip shared, “If you look at internet users in the past few quarters, the numbers have grown from 120 million to 210 million, and maybe another quarter down the line, it will be 230-240 million. This in itself is proof that it is imperative for the travel industry to evolve and keep up with this trend. MakeMyTrip in the past few years has recorded a significant growth in revenue and this is all due to the tech savvy Asian Millennial Travellers (ATM).”
The Indian online travel space is extremely optimistic on the internet penetration in the country. “With the increasing use of smartphones and tablets, the internet user base is also increasing. The said medium has become extremely popular among travellers,” opined Subramanya Sharma, Chief Marketing Officer, Cleartrip.
Internet: A boon to Travel
Asian travellers are not just booking travel on their devices, but are also sharing their travel experiences and researching on mobile more readily than their Western counterparts, shared Vikram Malhi, Managing Director, Expedia Asia. “Mobile is a huge area of investment for Expedia, and the findings reinforce our aim to offer travellers a complete experience, from pre-booking to post-vacation, across devices,” Malhi added.
Expedia’s Flip Flop Report documents that Indian travellers posted the most photos/videos while on vacation (50 snaps per week).
“The Indian opportunity for the travel industry is phenomenal, the biggest story being mobile. At Expedia India, we are witnessing 40 per cent traffic and 20 per cent bookings through the mobile channel. With a promising future for travel, India needs more travel-focused events,” concluded Malhi.
Keeping it traditional
A majority of Indian travellers still rely on traditional sources such as travel agents and tour operators. This suggests a penchant for more information rather than online information, opined Ashwini Kakkar, Executive Vice Chairman, Mercury Travels. “We are well aware of the importance of the internet but we are the ones that offer our travellers customised service when they are stranded in a different country facing a mishap. An OTA cannot reach out to you with help, but we can.”
Madhavan Menon, Managing Director, Thomas Cook (India) further mentioned that, despite India’s fast-growing online travel market, traditional players still have a strong hold on cash-rich, time-poor segments of the market while leveraging technology to adapt to changes and transform.”
Technology is the traveller’s best friend
The outlook for travel and hospitality looks buoyant with the latest innovations in cloud based hospitality management systems and better connectivity through effective communication equipments apart from efficient back-office accounting systems. Online booking engines, location- based services and many more are contributing towards an enhanced customer experience enabling the traveller on the move.
Aloke Bajpai, CEO and Co-founder, ixigo said, “For the industry, the key lies in identifying most relevant technology investments in line with the company’s goals to reduce the time spent on operations and connect with customers in a better way. With the growth of mobile and the use of big data, the opportunities to reach the right customer at the right time area endless.”
