We are living in an era of accelerated innovation in which all facets of business have been affected. It’s true that nothing remains new forever, but the rate at which a product or a process becomes obsolete had never been so high. Technology has changed the pace at which innovation is being done. Information Technology being the front runner in the technological advancements, has led to change in the businesses processes. It has revolutionized the way businesses are done and travel industry is not untouched.
Gone are the days when people used to approach a fixed Travel Technology Company in their vicinity for getting their flight tickets booked. Customers had to depend on handful of travel companies for planning their holidays and there were little or no source of comparison between the packages on offer. With advent of information technology and internet the scenario has changed completely. Travel industry has gone online and has replaced the old mechanical way of planning or booking. Customer’s reach to information has increased exponentially and now everything is just a click away. The new age customer is more tech-savvy and more inclined towards getting things done with ease and instantly. Thus one cannot remain isolated and resort to old ways of doing business.
Going online has been beneficial for the customers but this does not mean that the travel companies are on receiving end; rather it has transformed the business completely. It has provided a platform for all; big or small players to do their business on equal footing. It has provided the travel companies access to a larger customer base and thus has helped them come out of the confines and do business not only domestically rather globally. It has also reduced the need of capital expenditure on infrastructure for setting up the business. Now one does not need to invest heavily to maintain a big office space as business has moved online. It has reduced the entry barrier to the travel business and is helping budding entrepreneurs.
Government has emphasized on digitization by introducing Digital India Campaign. Under this government intends to enhance the digital infrastructure of the country coupled with increasing digital literacy. Developed digital infrastructure would help the players penetrate tier 2 and tier 3 cities which means more business in areas which are untapped right now. On the other hand increased digital literacy would mean an increase in customer volume in even already tapped areas.
Thus it is quite evident that online platform has not only helped existing travel industry but is also bound to act as a launch pad for future advancements in travel business. This is the perfect time to get on the train.