Tag Archives: business travel

To cater to shifting demand and in line with global consumer trends, Oman Air has announced its new Business Studio. The new cabin, which will replace the airline’s First Class product, will retain its spacious cabin layout, classic lie-flat seats, and Wi-Fi connectivity, but with more affordable fares and a redefined service approach that is tailored to the needs of modern travellers. Featuring predominantly on its London and Bangkok services, the new higher-tier Business experience offers all the features of premium flying along with Oman Air’s award-winning service and hospitality, giving guests the room to work, connect and rest like never before, whether traveling for business or premium leisure. “Inspired by valuable guest feedback and to adapt and evolve in line with global market trends, we have strategically refined our premium offering to deliver greater value and appeal. The traditional First Class experience has seen diminished demand, and after careful analysis and benchmarking against industry standards, we decided to retire the product. This decision allows us to focus on delivering an exceptional Business Class experience that better meets modern traveller expectations and is more closely aligned with the demographics targeted by the national tourism objectives, such as such as wellness, adventure and MICE. Moreover, we’re offering it all at a more competitive price point,” said Con Korfiatis, Chief Executive Officer of Oman Air. Oman Air’s new Business Studio offers the best Business Class available anywhere in the region with one of the world’s most generous pitches at 82”, privacy walls for every seat, 23-inch personal screen, free Wi-Fi connectivity, and à la carte dining to stay nourished on-the-go. Guests will be able to book Business Studio from 9 September 2024 at …

A new study by Tumodo and Admitad reveals significant shifts in business travel trends across the Middle East and North Africa for 2024. In 2024, business travel is expected to reach $1.48 trillion globally, with the Middle East showing a growth rate of 11.2 %. Last year, the region surpassed its pre-COVID spending levels, reaching $17 billion in business travel expenditures, instilling confidence in its future. Based on over 500,000 travel purchases from Q1 2022 to Q1 2024, the report by Admitad highlights increased car rentals, evolving destination preferences, and a growing shift towards mobile booking. Admitad’s and Tumodo’s study shows that the average price of airline flight tickets within the MENA region has reached $205, a change attributed to seasonal inflation. On the contrary, economy class tickets from MENA to Europe, Asia, and America average $510, while business class fares for these routes reach $2084. Regarding the distribution of ticket types in business travel, 88% of the tickets are for economy class, 10% are for business class, and 2% are for first class. Additionally, a 17% increase in car rentals during business trips compared to 2023 indicates a preference for flexible transportation options. Regarding business travel destinations, the study highlights Pakistan, Kuwait, and Saudi – Arabia as top destinations for travellers from Dubai. In fact, Arab News reported that Saudi Arabia and the UAE remain the leading destinations for Pakistani workers. Over 450,000 individuals left Pakistan in 2023 for employment opportunities in these countries. This trend underscores the strong economic ties and business connections within the MENA region. “Each sub-region showcases its unique trends, such as the UAE, where business travel represents 14.5% of the region’s total. This data …

Nova M Hotel Olaya Riyadh, an Edge by Rotana hotel, is set to open its doors in the last quarter of 2024. Centrally located on the renowned Al Olaya Street, the new property will be a prime destination for both business and leisure guests, offering convenience, modern amenities, and exceptional hospitality. Situated in the heart of Riyadh, a short 27-minute drive from King Khalid International Airport, the Nova M Hotel Olaya Riyadh is very close to business districts, a range of shops, restaurants, and cinemas making it a prime location and ideal option for a range of guests. The hotel features 104 meticulously designed rooms and suites that blend contemporary aesthetics with functionality and are equipped with modern amenities, providing a comfortable retreat for both business and leisure travellers. Guests at Nova M Hotel Olaya Riyadh can enjoy a variety of dining options. Misk Restaurant is an all-day dining restaurant that brings patrons “Flavours of the World” via an international buffet. Sola Lobby Café offers prime coffee, teas, and light bites, and its Grab-and-Go concept ensures a quick and delicious casual meal option for guests and visitors alike. Additionally, a 24/7 in-room dining menu guarantees quality and speedy service for those who prefer the comfort of their room. The hotel’s facilities include Bodylines Fitness & Wellness Club, featuring a fully equipped gym, sauna, steam rooms, and a massage room. A refreshing rooftop pool provides an ideal escape for those seeking both activity and relaxation. For business travellers, Nova M Hotel Olaya Riyadh offers flexibility and convenience, with three separate meeting rooms able to accommodate medium-sized corporate meetings. All meeting spaces are equipped with the latest technology, elevating the event experience. …

According to IATA’s outlook report, the Middle East benefits from the strength of both the region’s economies and its global hubs. The United Arab Emirates continues to benefit from its attractiveness to both leisure and business travellers.  Meanwhile, Saudi Arabia’s massive investments in infrastructure and tourism are delivering robust growth in passenger and cargo volumes. Although airlines continue to add capacity, yields remain healthy and the demand for travel remains buoyant and looks set to continue apace. Geopolitical risks are the main threat, especially to the Levant carriers. The Gulf carriers are relatively less impacted unless tensions between Iran and Israel escalate.   2023 Net Profit (e) (margin) (per passenger) 2024 Net Profit (f) (margin) (per passenger) 2024 Demand (RPK) 2024 Capacity (ASK) $3.1 billion (4.9%) ($12.70) $3.8 billion (5.3%) ($15.20) +9.3% +10.8%

Speaking with TravTalkME Lydia Li, Deputy General Manager ITB China shared that one of the key emerging trends seen over the past few months is an increase of outbound travel with Chinese travellers opting for MICE and business travel to the Middle East. According to the recent report by Trip.com, there were destinations that fall in the medium- and long-haul outbound travel categories that witnessed significant growth, with Saudi Arabia, the United Arab Emirates, Turkey, and the Maldives, among others along the Belt and Road Initiative, experiencing high order growth rates, increasing by over 800%, 60%, 40%, and 40% respectively compared to 2019. Countries farther away such as the UK, Argentina, and Norway also saw significant increases, with growth rates exceeding 60%, 40%, and 200% respectively compared to 2019.

American Express Global Business Travel (“Amex GBT”) announced it entered into a definitive agreement to acquire CWT  in a transaction that values CWT at approximately $570 million on a cash-free, debt-free basis, subject to certain assumptions and purchase price adjustments. The transaction will be funded by a combination of stock and cash and is expected to close in the second half of 2024, subject to the satisfaction of customary closing conditions, including the receipt of certain regulatory approvals. CWT serves 4,000 customers and is expected to generate approximately $850 million of revenues and $70 million–$80 million of Adjusted EBITDA in 2024. Paul Abbott, Amex GBT’s CEO, said: “Bringing CWT onto the proven Amex GBT software and services model will create more choice for customers, more opportunities for people and more value for shareholders.” After the acquisition closes, CWT customers would have access to Amex GBT’s proprietary software and services for travel and expense, including Neo1, Neo and Egencia, in addition to Select, which enables customers to integrate with leading technology partners. Customers would have access to the broadest portfolio of professional services, including meetings and events, consulting and sustainability solutions and Amex GBT’s marketplace would provide access to the most comprehensive and competitive content in the industry. CWT CEO Patrick Andersen said: “Joining forces with Amex GBT helps accelerate our vision of a tech-enabled future for business travel, where people and technology combine to deliver an exceptional customer experience. We are highly confident in the value creation of the combined company.” Significant Shareholder Value Highly attractive valuation and financial return: Based on CWT estimated 2024 Adjusted EBITDA of $70 million–$80 million and $155 million of identified synergies, Amex GBT acquiring CWT for …

WegoPro announced its collaboration with Circles. This partnership aims to enhance the booking experience for business travelers by integrating data roaming services seamlessly within their booking journey on WegoPro. With this collaboration, businesses can now streamline their business travelers’ experience across both pre and post-booking stages on the same platform, ensuring better control and efficiency while meeting the needs of the travelers. By adding connectivity services, WegoPro not only elevates the convenience for the business traveler but also enables businesses to manage all expenses within the same platform, simplifying the entire travel process. “We are thrilled to partner with Circles to enhance the business travel experience for our users,” said Prashant Kirtane, CEO of WegoPro. “By integrating Jetpac’s eSIM into our platform, we are empowering business travelers with seamless connectivity and exclusive perks, further solidifying WegoPro as the ultimate solution for modern business travel.” One of the key highlights of this collaboration is the introduction of Jetpac’s eSIM, offering users the ultimate convenience of travel roaming services. With a one-time installation of the eSIM, travelers can enjoy connectivity across all destinations covered by Jetpac, eliminating the hassle of SIM swapping forever. This eSIM can be used in over 100 countries and across multiple destinations within 30 days, enabling travelers to connect instantly upon landing without worrying about data roaming charges. Aditya Goyal, Business Head of New Business Build in Circles, said: “We are very excited to partner with WegoPro to bring our award-winning Jetpac Travel eSIM product to Business Travelers. With Jetpac Travel eSim, WegoPro customers will get seamless connectivity around the world. This is a new milestone in revolutionizing the Business Travel across the globe”. Jetpac’s eSIM also comes …

Wego launched WegoPro, a modern platform that simplifies business travel and expense management for companies globally. Formerly known as Travelstop, WegoPro will debut today in 7 key markets in the MENA region, including Saudi Arabia, UAE, Qatar, Bahrain, Oman, Kuwait, and Egypt. The rebranding follows Wego’s acquisition of Travelstop in September 2023, reinforcing Wego’s commitment to offer comprehensive travel solutions to businesses in the region. Market research firms predict that the global business travel market will be valued at over US$1.8 trillion by 2027 and will return to the pre-pandemic levels of US$1.4 trillion this year. A significant part of that growth is expected to come from markets in Asia and the MENA region. That growth, coupled with the increasing demand for more modern and innovative business travel solutions, represents a substantial opportunity for WegoPro in the region. “The Middle East is a very young population and most people in the workforce today have grown up with powerful travel apps and websites, like Wego, that have let them book their own personal travel,” said Ross Veitch, Wego CEO & Co-Founder. “In stark contrast in their professional lives they are often forced to book their business trips through cumbersome offline booking processes having to email back and forth with a corporate travel management company and then to go through a tedious approval process. After the trip expense reports then need to be filed in a process normally involving Excel, receipts and sticky tape. With the launch of WegoPro today we are leveraging technology and our deep experience in the B2C space to bring business travel & expense management into the 21st century.” WegoPro offers a diverse and extensive range of flight and …

The Mohammed bin Rashid Aerospace Hub (MBRAH) at Dubai South continues to achieve outstanding private jet movements, with a record 16,657 movements in 2023, a growth of 8% over 2022, marking the highest-ever movements achieved in Dubai. The growth of movements is attributed to several factors, including the hosting of the Dubai Airshow, COP28, and the soft opening of the new ExecuJet FBO and hangar. The impressive milestone reaffirms Al Maktoum International Airport’s position as the busiest airport for international business aviation movements in the Middle East. 2023 was also a successful year at MBRAH, witnessing several agreements with new partners seeking to set up their facilities across different zones to provide different MRO services, including manufacturing aircraft parts and structures, sealing and painting, AOG and aircraft parts supply, sourcing engine assets, and refurbishing private jet interiors. Additionally, the MRO trade from MBRAH’s Aerospace Supply Chain, which includes import, export and re-export, has increased and is expected to reach over AED 8 billion over the next few years, emphasising the growth of MRO activities. In his comments, Tahnoon Saif, CEO of MBRAH, said: “Last year marked an extraordinary milestone for us at MBRAH; not only did we record the highest-ever business aviation movements, but we also enriched our portfolio with new companies and announced the expansion of facilities. These achievements underscore the trust and immense value we offer through our cutting-edge infrastructure and world-class facilities, all within Dubai’s strategic embrace of the sector’s global growth. At MBRAH, our commitment persists, in perfect harmony with our visionary leadership’s strategy, to cement Dubai’s position as an aviation capital.” MBRAH offers global aerospace players high-level connectivity and is a free-zone destination for the …

Arabian Travel Market (ATM) announced a strategic partnership with the International Congress and Convention Association (ICCA) and the Global Business Travel Association (GBTA) for the upcoming edition of the event, which takes place from 6-9 May 2024 at the Dubai World Trade Centre. The renowned global organisations have been appointed as ‘Knowledge Partners’ for the regional trade show, providing in-depth insights and opportunities for the thriving segments of business events and travel. According to the ICCA statistical forecast, which charts the history and performance of the International Association Meetings Industry from 1963 to 2022, 10,602 business events were recorded worldwide last year, of which 9,009 (85%) were in-person. This represented an astounding 349% increase from the previous year when only 2,007 in-person events occurred. Interestingly, the Middle East accounted for the highest percentage of in-person delegates (94%) in last year’s official figures. The business travel industry is also experiencing significant growth, as evidenced by statistics from the 2023 GBTA Business Travel Index™ Report, which found that the global business travel industry rebounded faster than expected in 2023. Pent-up demand following the pandemic and healthier economic conditions than forecasted were highlighted as significant contributing factors for this shift. The report also stated that global business travel spending rose by 47% to $1.03 trillion last year and is expected to grow to nearly $1.8 trillion globally by 2027. Danielle Curtis, Exhibition Director, Arabian Travel Market, said: “All of the latest research suggests that the business events and business travel sectors are going from strength to strength. These sectors have always been important verticals at ATM, and the official partnership with ICCA and GBTA for the 2024 edition will take our offering to …