The 4th Travel and Tourism Summit 2012, organised by Internet & Mobile Association of India (IAMAI) at Shangri-La’s – Eros Hotel, New Delhi, recently urged travel industry stakeholders to work together for boosting tourism. Addressing the participants, Himanshu Singh, Managing Director, Travelocity India, and Chairman, Digital Commerce Committee, IAMAI, said that the common problems plaguing the industry cannot be addressed through individual efforts alone.
He pointed out that because of the differences among the stakeholders; the industry was not able to develop innovative business models to address customer-centric problems. The travel and tourism industry has continued to remain fragmented, he felt. “When the overall value of the travel and tourism industry is 800 billion dollars, the share of the biggest company is hardly 30 billion dollars,” Singh stated. At the summit, it was also revealed that around 40,000 – 50,000 online tickets are booked by the Online Travel Agents (OTAs). The OTA segment is growing at around 30 per cent on a year-on-year basis with one-fourth of the domestic market handled by them, informed IAMAI. Vishnu Rajendran, Regional Head – Cathay Pacific Airways, added, “With internet penetration rapidly growing, we have to depend on OTAs. The best way forward is to create a platform that will be conducive for both airlines’ and OTAs to have a mutually beneficial relationship.”
Click here to see the original article>He pointed out that because of the differences among the stakeholders; the industry was not able to develop innovative business models to address customer-centric problems. The travel and tourism industry has continued to remain fragmented, he felt. “When the overall value of the travel and tourism industry is 800 billion dollars, the share of the biggest company is hardly 30 billion dollars,” Singh stated. At the summit, it was also revealed that around 40,000 – 50,000 online tickets are booked by the Online Travel Agents (OTAs). The OTA segment is growing at around 30 per cent on a year-on-year basis with one-fourth of the domestic market handled by them, informed IAMAI. Vishnu Rajendran, Regional Head – Cathay Pacific Airways, added, “With internet penetration rapidly growing, we have to depend on OTAs. The best way forward is to create a platform that will be conducive for both airlines’ and OTAs to have a mutually beneficial relationship.”