Asim Arshad, CEO of one of the region’s leading Travel Management Companies (TMCs), Orient Travel Services has warned that travel companies continue to face a “challenging” time ahead, and despite signs of a fragile recovery it would be “futile” to compare business to post-recession levels.
“Business has been steady since last year, but the travel budgets have not increased,” said Arshad. “We have to take a reality check and it would be futile to compare it to the peaks of pre-recession.”
He said there TMCs were facing numerous threats to their business: “Travel companies are facing a challenge as there is no reduction in the cost whilst income is being diluted with lower fares, smaller service fees from low cost cariers (LCCs) and business lost to airlines due to their online offers.
| Advertisement |
“There has also been an increase in online booking portals who have been promoting aggressively, which has also taken a considerable amount of business.”
Search our database of more than 2,700 industry companies
