One of the leading and trusted advisors of the business world- McKinsey & Company– has come out with ‘Asian Business Traveller’s’ report. For its survey, it targeted 2500 travellers across five key markets in Asia- India, Singapore, Indonesia, Japan and China- for analysing booking and spending patterns from the data provided by Amadeus and Visa. These countries were considered for the survey as they represent 78% of Asia’s business travel spends.
According to the report, Asian business travellers enjoy greater autonomy where more than 50% of them view such trips primarily as travel experiences. In other words, they perceive business trips for not only professional purposes but as opportunities for enjoying the diverse cultures of international destinations. The disruptive elements of leisure travel are influencing business travel. Digital platforms are being used to book tickets extensively. Corporate travellers are showing keen interest on sharing economy accommodation for lodging facilities and interestingly 41% of the Asian business travellers opt to travel in low-cost carriers.
Convenience has become the most essential factor for most of the business travellers across ages and cultures. 53% of the Asian Business travellers deviate from the company travel policies for booking a travel carrier that provides a more convenient travel option.
In the survey, it was found out that 32% of the respondents valued convenience above all other factors. To facilitate travel processes, digital platforms were used as well. This behavioural pattern was quite evident among Indian travellers above 35 years old.
China and Indonesia:
The ‘feel good’ factor is of utmost importance for most of the Chinese and Indonesian business travellers who fall in this category. The survey found out that 94% of them were ready to pay more for additional services and have distinctive travel experiences. .
Singapore and Japan:
The travellers of these countries are ready to spend a substantial amount of money on costly air-carriers. They observe travelling as an opportunity to maximise loyalty rewards, prioritizing comfort over rewards. Only 25% of them were willing to fly in low-cost carriers although Singaporeans and japanese travellers are more budget conscious than the others. .
Mr. Andrew Phua, Director of Exhibitions and Conferences, Singapore Tourism Board, quoted:
“However, as research on this region has been lacking, this report on Asian Business Travellers is extremely timely; we hope it will help travel managers to better understand Asian Business Travellers and maximise the opportunities of this dynamic and burgeoning segment of travellers.”
Through this research report, travel operators targeting these geographies can easily understand that they will have to offer more individualised travel experiences with greater services and convenience for travellers.
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