siliconindia | | November 20198n today's digital era, technologies such as mobile phones and video conferencing may have narrowed the gap between cross-border communications but the value of face-to-face interactions has not been lost. Corporate travel is still very much an important part of business ­ whether it is to close business deals or simply to network for new opportunities. The Global Business Travel Association (GBTA) has forecasted a steady average of 5.8 percent growth in the next few years to reach $1.6 trillion in 2020. While the travel industry continues to see an uptick in corporate travel across the globe, India has been witnessing the highest growth rate ­ GBTA estimates that business travel in India will grow by a CAGR of 11.5 percent to reach $45 billion by 2019, with the inbound MICE segment of India growing at an annual rate of 15 to 20 percent.Evolving Corporate Travel NeedsJust as individual travel preferences evolve, employees are driving changes in their corporate travel needs too. Sabre's Asia Pacific Corporate Travel Study revealed that corporate travellers now want more flexibility in managing their trips; they want the option of choosing their preferred hotel or airline, and tools that make it easier for them to manage their travel from anywhere.One of the most commonly quoted reasons for modifying corporate trips is to switch to alternate options with lower fares. However, these often fall short of compliance standards as employees bypass necessary checks and approvals needed for their modified bookings. In the study, the global proliferation of consumer sites offering lower fares continues to drive non-compliance with 86 percent of respondents agreeing that it was the key factor for their alteration of their trips. Low cost airline options (71 percent) and mobile offers (60 percent) were other reasons for sthe non-compliance.Coupling this with the corporate travellers' desire for tools that make travel management easier, it becomes more By Anupam Bokil, Vice President - Technology, SABRE CORPORATIONHeadquartered in Texas, Sabre is a leading IT Services company providing an open and stable platform to deliver flexible, reliable and scalable solutions that help Airline, Hotels and Travel Agencies to grow their businesses and transform the traveler experience.THE EVOLVING CORPORATE TRAVEL LANDSCAPE & TECHNOLOGIES THAT WILL SHAPE ITIIN MY opinion
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