The incorporation of cutting-edge technology is at the heart of this shift. TMCs have revamped their strategies to meet the needs of new-age travellers. These travellers need to engage deeper and faster using AI-powered chatbots, voice-assisted booking systems and real-time data analytics. These technologies can be tailored to customers’ needs while simplifying the experience for business travellers.Survey insights on corporate travel show traveller’s demand value proposition —Operating cost efficiency: Travel expenses represent a considerable portion of an organisation’s operating budget. On average, 35–40 percent of employees travel at least once annually. Almost 88 percent of corporate employees travel for 1 weeks when travelling internationally for their business purpose and almost 34 percent surveyed respondents mention they travel once or twice a quarter for domestic purpose. However, only 33 percent travels once or more a year for international business purpose—For small and midsize organisations (up to 250 employees), travel expenditure can reach INR 1 crore per year. In contrast, large organisations (250–5,000 employees) allocate INR 10 crore annually towards travel expenses. For large organisations (5,000+ employees), travel expenses are directly proportional to the employee count. An analysis of the top 100 listed firms reveals that a leading IT major, with some of the highest travel spends, incurred travel expenses of more than INR2,600 crore in FY23.—There is a rising demand for auxiliary services, with 72 percent of respondents requesting taxi services and 63 percent seeking visa assistance on travel platforms, emphasising the need for comprehensive travel solutions.Anand Ramanathan, partner and consumer industry leader, consulting, Deloitte India, said “The new age corporate traveller demands much more than just a ticket and a hotel room. India’s growing economy has evolved consumer demands, with consumers seeking a seamless, personalised experience that aligns with their professional and personal values.In addition, a hybrid work culture solidifies its place in the modern business landscape, where in-person meetings remain indispensable for fostering strong professional relationships. As the economy grows, the MICE (Meetings, Incentives, Conventions and Exhibitions) sector will also drive the demand for corporate travel”.Our latest report highlights how TMCs are rising to this challenge by integrating technology and AI-led solutions, ensuring every journey is tailored to individual needs. Furthermore, the growing emphasis on sustainability is reshaping corporate travel, with nearly 50 percent of travellers prioritising eco-friendly practices”.Additionally, tech innovation is especially crucial in catering to the evolving demands of India’s growing SME segment, which constitutes 30 percent of the corporate travel market, clearly contributing to the travel sector’s growth and evolution in the near future.”
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