Before we even start to panic let us look back into personal & global history to note how often such crisis have hit world economy. Such turbulence have been part of natural economic cycles but what is different this time is information available, information available is making its impact even bigger thus resulting in shrinking economies. But the world will never stop; it will walk differently in these times. Like every other time Travel Companies will be effected and thus let us start planning and counter.
As Travel Companies we will have to make note of following check list:
Hold Tight: Do not loose your existing customer and be proactive. What we can loose in this time is what we have taken for granted.
Reach out: Extend your arm to new customers & new opportunities. Planes are not flying empty find out who is flying before your competition does it.
Accelerate: Quick check on marketing & promotional activities, implement CRM tool that can help you touch base with your customers in multiple way such as email, phone, Website, forums, blogs etc.,
Offer more: In past if you have been agency that was offering specific travel option, don’t limit your self to vanilla flavor selling, add toppings, if your core product was Airline tickets, Visa Service load your shelves with more offerings.
Co – Marketing: You don’t have to be jack of all trades hence partner with complimenting Services company and exchange resources & opportunities.
Re-Negotiate: On one hand re-negotiate with suppliers & on other hand offer your customer an opportunity to re-negotiate your contracts.
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The 2008 report identifies the next generation of trends in the travel and tourism industry which offer a diverse range of opportunities world-wide.
Looking across the spectrum, the Middle East enjoys a growing expatriate community turning to the region as a holiday destination. Fairtrade holidays in Sub-Saharan Africa are on the cusp of going mainstream, while Asian business travel is benefiting from the current financial crisis as companies shift to Asia for growth potential. Latin Americans are going long haul in search of international experiences, whereas North Americans are increasingly looking to travel 'with a conscience'... read more
Ever since India started on market reforms - deregulation of civil aviation, the number of Indian travelers (by air) is exploded. According to one estimate approximately, 75 million passengers travel by air per year in 2005. This number includes both domestic & international air travel. This number is expected to grow exponentially to approximately 350 million passengers by 2020. According to Ministry of Civil Aviation, Indian carries will acquire about 2000 planes in the coming 20 years. ( This is in addition to leases of aircrafts) In 2005 alone, Indian carriers placed an order for 327 airplanes.
This exponential growth would lead to huge business opportunities to various industries catering to air travel passengers and goods transportation. Companies will have big opportunities in hotels, car rentals, taxis, cargo logistics, aircraft maintenance, travel agents, airport security equipment, catering services, pilot training institutes, staffing companies, airport infrastructure and related areas.
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