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Musafir.com predicts that the “International Travel” segment will enjoy a faster growth path in 2023 versus the previous year. “Travel sector constitutes nearly 10%1 of global GDP and authorities across countries have been collaborating synergistically to put in place the levels of safety, hygiene, and comfort required for the sector to regain its lost ground. Consequently, FY’ 2022 witnessed a steady recovery for leisure as well as business travel, on the back of a significant reduction in pandemic-related risk, eased travel regulations worldwide, enhanced travelers’ confidence and the desire at corporate levels to resume productive in-person engagements. The trend would only strengthen in 2023”, said Sachin Gadoya, Co-founder & CEO of Musafir.com & Musafir Business. The data and trends, gathered through queries and bookings on Musafir Business platform, forecast business travelers to continue choosing First & Business class, despite a rise of ~10-15% in airfare. Premium Economy mode of travel augments further the choice repertoire of such travelers. All put together, the average corporate travel budget in 2023 would rise by 15-20%, bringing it to a level comparable to pre-pandemic days. Explaining further on the same, Mr. Gadoya added, “Insights obtained from Musafir Business platform establish very clearly that the organizations in the UAE prefer face-to-face interaction for building trust & longevity in their business relationship. With considerably eased travel regulations these days, the average annual business travel spend of SMEs in the UAE is expected to grow by 15-20% in 2023 – from AED 185K (2022) to AED 220K(2023), which is indeed very close to the pre-pandemic figure of 2019 i.e. AED 250K.” The GCC, India, UK, EU countries, and USA will continue to remain the key inbound and outbound …

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