Global slowdown coupled with terror attacks & swine flue had marred travel agencies in the year bygone. But with green shoots of recovery showing up, the smile is back on a travel agent’s face, says neha saraiya
Sanjay Datta, a Delhi-based travel agent (who has been running his travel agency under the name of Airborne Travels since 1983), can be seen in his office, located at Defence Colony, even before 9 in the morning these days. This, in fact, is in sharp contrast to the schedule that he had been following regularly for over a year and half now (reaching his office not before 12 noon).
Well, the reason for his punctuality is not that he has suddenly realised the importance of being early in office. In fact, it is a more obvious one than that, business is back on the upswing in the Indian hospitality industry after a long lull. That is evident when you see how he is now selling over 50 tickets on a single day these days against the miniscule number of 15-20 tickets that he could hardly manage a year back.
No doubt, the past two years have been exigent for the travel and tourism industry in India. Global economic slowdown, fall in premium traffic, mounting fuel surcharges, et al, have affected the travel agents’ businesses in India in a big way. In fact, as per the latest data from the Ministry of Tourism, tourist arrivals in India have gone down by an alarming 16.6% and 12.9% (year-on-year basis) in January and March 2009 respectively. “Last year our revenues had fallen drastically, as much as by 60-70% equalising with the passenger drop of 30%,” agrees Datta.
Not only domestic travel agencies, but even international travel agents are in the same boat. As Magdi Mohamed, Operation Manager, Eastmar Tours & Holidays (a Dubai-based travel agency) puts his case forward, “In the beginning, travel agencies like us used to close around 80,000 files in a year for Egypt. But last year, that number fell by 20-40%.”
However, with the market pulse belatedly getting back to normal in the last six months, travel agents across the country have finally started breathing a sigh of relief. In fact, as per a recent report by Travelport GDS, Indian travel agents were successful in converting more than 78% of enquiries into actual sales and generated more revenue from recreational travel (58%) than business travel (42%), out of which 74% came from repeat travel.
Sanjay Datta, a Delhi-based travel agent (who has been running his travel agency under the name of Airborne Travels since 1983), can be seen in his office, located at Defence Colony, even before 9 in the morning these days. This, in fact, is in sharp contrast to the schedule that he had been following regularly for over a year and half now (reaching his office not before 12 noon).
Well, the reason for his punctuality is not that he has suddenly realised the importance of being early in office. In fact, it is a more obvious one than that, business is back on the upswing in the Indian hospitality industry after a long lull. That is evident when you see how he is now selling over 50 tickets on a single day these days against the miniscule number of 15-20 tickets that he could hardly manage a year back.
No doubt, the past two years have been exigent for the travel and tourism industry in India. Global economic slowdown, fall in premium traffic, mounting fuel surcharges, et al, have affected the travel agents’ businesses in India in a big way. In fact, as per the latest data from the Ministry of Tourism, tourist arrivals in India have gone down by an alarming 16.6% and 12.9% (year-on-year basis) in January and March 2009 respectively. “Last year our revenues had fallen drastically, as much as by 60-70% equalising with the passenger drop of 30%,” agrees Datta.
Not only domestic travel agencies, but even international travel agents are in the same boat. As Magdi Mohamed, Operation Manager, Eastmar Tours & Holidays (a Dubai-based travel agency) puts his case forward, “In the beginning, travel agencies like us used to close around 80,000 files in a year for Egypt. But last year, that number fell by 20-40%.”
However, with the market pulse belatedly getting back to normal in the last six months, travel agents across the country have finally started breathing a sigh of relief. In fact, as per a recent report by Travelport GDS, Indian travel agents were successful in converting more than 78% of enquiries into actual sales and generated more revenue from recreational travel (58%) than business travel (42%), out of which 74% came from repeat travel.
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with trepidation and a certain gumption that would hardly ruffle the feathers of a mighty and towering giant of an entrepreneur whose companies have been on a quest of global conquest in the last few years; albeit without the marauding violence and contempt displayed by the rampaging armies of George Bush Jr. I marvel at the vision, stamina, will power, fortitude, leadership skills and chutzpah you must have to manage a group with about 80 companies. I was an even more ardent admirer of your predecessor the late J.R.D. Tata.
first seven months of FY 2008-09. According to the AMFI data, Rs.406.08 billion of this was lost in October alone. Notably, BSE Sensex and BSE-500 also recorded their single biggest monthly fall in October. BSE Sensex plunged by 23.9%, while BSE-500 fell by 27.1% in October. AUM in equity related schemes too declined from Rs.1,890.25 billion as on March 31,2008 to Rs.1,579.13 billion as on October 31, 2008. This fall in AUM is partly due to value erosion in equities & partly due to redemptions that followed them.
lovingly brandish their nimbler, fuel-efficient machines at the American consumers, it’s GM and Ford that are not just going green with envy but are literally gasping for survival! To avoid falling into a similar trap, the impulse of going ‘green’ is running faster than blood in India Inc.’s veins. From IT giants to luxurious hotel chains, from automobiles to mutual funds, corporate India is moving fanatically ahead with green initiatives. But will the gamble eventually pay off? Deepak R. Patra digs in...
renowned 12th century Sufi saint Baba Farid, the patron saint of Faridkot, the town now believed to be the home of Ajmal Amir Kasab, one of the terrorists who stormed Mumbai and was captured by the Indian police. As neighbours refuse to acknowledge him, and scores of bereaved families look to the government for justice, why not look for peace, and meaning in our lives, through the time-tested healing powers of Sufi music…
of the past three months in the relief camp as ‘harrowing’. Despite belonging to the Bodo community – the earliest inhabitants of Assam, and the supposed ‘bhumiputras’, he and the entire Bodo population of Dalgaon Batabari were thrown out of their homes by Bangladeshi immigrants in a matter of minutes. Today, their existence at the relief camp has been brought down to this: a tin shed, four kgs of rice, 1.1 kg of dal, 250 ml mustard oil and some salt, “per person, per week”.
“With a market share of 24%, Honda has been at the top of the premium segment. We will continue to provide the latest technology to the customer on a regular basis,” says an optimistic Masahiro Takedagawa, President, Honda Siel. Even Gaur adds, “Honda is an established brand in India and enjoys a brand equity few can match. The company caters well to the customer with the best of products.”
authoritative neighbour, Russia, which bombed the Georgian cities and snatched control of her seceded province of South Ossetia. While Russia stopped its assault after a week of adventure, it did not do so before stretching her attacks on ‘mainland’ Georgia. Tanks, heavy artillery and infantry were already on the outskirts of the Gori in central Georgia when ceasefire orders were finally read out. This was the first ever attack on a Georgian city in ‘Georgia Proper’. The attack is said to have intensified after Georgia announced a unilateral ceasefire and withdrawal of troops from South Ossetia, which many believe were actually chased out by the Russian forces.
the best among peers is what spears a man ahead of the race. But all these desires come with lots of constraints – lack of finances being one of them. One such aspiration that has remained long unfulfilled for many Indians is the desire to own a family car. But no more! The second hand car market has made all those dreams of driving an opulent vehicle come true. The growing used car market across the country in the form of both organised and unorganised players is a testimony to the vast potential of this segment.
to the environmentally concerned speed junkies. The cutting edge design features a canopy style door opening and all wheel drive system.
Central to the design is a high performance gas turbine powering each wheel independently.
roof. And under such circumstances, one of the most affected is the Indian mutual fund industry. In fact, its miserable run over the last couple of months have left investors really disillusioned. Following the AMFI data, the joint average AUM of the 34 fund houses in the country plunged to Rs.5,296.29 billion in July, compared to Rs.5,647.52 billion in June. This 6% drop in AUMs marked the second successive month of losses. However, in the meanwhile, A. P. Kurian, Chairman, Association of Mutual Funds in India (AMFI) shares with B&E’s Sunanda Roy, the initiatives taken by them & concerns that need to be addressed.