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Monday, 11 May, 2020, 12 : 30 PM [IST]

‘Corporate travel will resume for reviving broken supply chains & tapping new markets’

With border and land restrictions in force due to the COVID-19 pandemic, the world and businesses will have to make changes to their functioning. However, despite this, corporate travel will eventually resume and business representatives will have to travel to aid demand generation.
 
Expressing his views at TAAI’s Road to Recovery e-panel discussion, Rakshit Desai, Managing Director, FCM Travel Solutions, Indian subsidiary of FCTG, Australia, said, “Corporate travel will have to be divided into the scenario this year and a year from now. This segment has been constrained right now with suspension of travel activities. However, to access new markets and tap new businesses and segments, corporate travel will have to pick up once situation improves. Despite technology being an enabler, people to people exchange is still a critical factor in improving business and expanding geographies.”

Desai was of the view that fresh logistical framework will have to be put into place. “Once the lockdown is lifted and the situation eventually resumes to normalcy, broken supply chains will have to be revived. The time taken for revival will eventually determine the costs involved.”

With regards to the new normal scenario, Desai shared that customers and suppliers like hotels and airlines will have to make adjustments. “These factors will be critical in deciding the credit worthiness.”

Separately, commenting on job losses due to the sudden halt in business, he stated, “Besides permanent pressures, there will be temporary salary cuts. Pragmatic solutions are required and everyone will have to make adjustments. Alongside hotels and airlines, even agents, including corporate travel management companies, require capital support. If all of us can reach a common working ground, we can sail through reasonably.”  

 
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