Tourism Breaking News
Statistics echo this sentiment, with ‘bleisure’ tourism accounting for 30-35% of the global business tourism market and boasting a staggering worth of $500 billion (Dh2 trillion) in 2022. The upward trajectory is set to keep rising, with a projected growth rate of 20% over the ensuing decade. As the corporate travel industry regains its stride post challenges, the concept of ‘bleisure’ tourism, a blend of business and leisure travel, is quickly positioning itself as not only popular but also economically prudent, reveals Musafir Business, the leading all-in-one corporate travel management platform in the region by musafir.com.
Sachin Gadoya, CEO and Co-Founder of musafir.com and Musafir Business, offers insights, “Following the pandemic, the sphere of ‘bleisure’ travel is witnessing a significant upswing in the region, with nearly 20% of corporate travelers thoughtfully weaving leisure experiences into their business journeys. Projections indicate that this number is destined to rise further by 15% in the times ahead.”
This dynamic shift is evident as individuals extending their business trips by 1-2 days for leisure, and vice versa, becomes increasingly common. Forecasts predict these trips will span more destinations, boasting longer durations. Larger international companies are quick to adopt this trend, while smaller-scale and local firms, which are not multinational corporations, may take more time to embrace it.
The average ticket price for corporate travel within the GCC ranges from AED 3,500 to 4,000, and this trend is expected to continue through 2024. Amid the scorching summer heat, corporate travel primarily entails outbound trips from the UAE. Prominent business travel destinations like Europe, the USA, and South East Asia proficiently address the diverse demands of corporate globetrotters, with ticket prices ranging between AED 5,500 to 6,000 for these regions.
Additionally, there is also a marked rise in preference for business and first-class travel in the evolving landscape of business travel.
As Q4 draws near, the UAE’s travel landscape is poised for a transformation. A convergence of factors, including pleasant weather and a vibrant event calendar, is expected to ignite a surge in inbound travel. From the thrilling Formula 1 Etihad Airways Abu Dhabi Grand Prix to captivating art exhibitions, mega exhibitions and conferences, electrifying concerts, invigorating marathons, and lively beach festivals, the region is gearing up to offer a diverse range of experiences. This bustling scenario, combined with the UAE’s status as a hub for international companies, promises a unique fusion of business and leisure, making it an enticing destination for travelers seeking a dynamic blend of activities.
For insights into how employers perceive the benefits of integrating leisure elements into business travel for their staff, and the distinct advantages from their perspective, it is noted that this practice can offset costs, boost productivity during meetings and conferences, and foster stronger relationships between employers and employees.
The industry’s value in the UAE, GCC, and MENA regions is substantial, with the UAE alone having a flight spend of over AED 10 billion a significant portion of which is attributed to business travel.
“Musafir Business has also observed a remarkable 25% increase in average corporate transaction value, even surpassing pre-pandemic levels. This growth underscores our commitment to elevating customer experiences, embracing digital innovation, and gaining invaluable insights into our customers’ preferences.
With a proven track record of delivering substantial savings for Middle Eastern organizations, having processed over 600,000 transactions in 2022, we are resolutely focused on sustaining this momentum in 2023. Our goal is to achieve approximately 1.1 million transactions, solidifying our position as a leader in corporate travel solutions”, concluded Gadoya.
The remarkable surge in business travel, combined with the increasing ‘bleisure’ trend, serves as a testament to the industry’s robustness and flexibility, charting a thrilling path ahead for both corporate and leisure exploration.
