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Essay On Travel Industry

799 Words4 Pages

India is in the verge of an entrepreneurship revolution with online start-ups getting the support of consumers, venture capitalists and the strong IT industry of India. Over the years a large number of online travel start-ups have entered the competition to cash in on the e-commerce boom that has to a large extent been driven by increasing disposable incomes and growing middle class which has led to the growth of travel segment in the country. One of the biggest challenges in the online travel space is competition, both from other online service providers and from traditional travel agencies. The travel industry, especially luxury travel, is the first to suffer in difficult economic conditions. The situation is equally challenging for start-ups …show more content…

But as the technology has evolved it has challenged the conventional wisdom across sector and provided simplified solutions to complex problems. Similar is the case with the travel industry of India and the world. In India we used to have brick and mortar stores for booking travel particularly long distances and we used to see long queues outside the railway ticket counters. As travel particularly has a emotional value attached to it so people research before buying products. So it took a while for the ecommerce sector to have foothold in the industry, but eventually it has overcome these challenges and have made the brick and mortar stores and outlets relatively extinct. The future of Online Travel Industry With the growth of the number of internet and smart phone users, the industry has evolved, and like other online businesses it is shifting its focus towards mobile. Traffic and transaction from mobile is on the rise. Mobile accounts for 20% flights, 25% of hotels and 50% of train bookings for Cleartrip. As observed, the size of transaction is inversely proportionate to its contribution from mobile. As the size decreases, the contribution increases (train tickets are cheaper than hotels and flights). In the next few years, Cleartrip expects to get 50% of its traffic from mobile

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