Tag Archives: travel packages

Korea Tourism Organization unveils K-Incentive Scheme 2.0 for Indian travel trade

The Korea Tourism Organization (KTO) has launched K-incentive Scheme 2.0, an enhanced programme designed to support and reward Indian travel agents who promote travel to South Korea.

Leveraging the inaugural programme’s success from last year, K-incentive Scheme 2.0 was unveiled at an event in New Delhi, in collaboration with Outbound Tour Operators Association of India (OTOAI).

The benefits include providing travel agents with prizes up to USD 30 per passenger and support for quick, simple, and hassle-free tour visas for visitors to Korea between February and September 2024. The programme encourages Indian travel agents to explore and promote regional destinations like Busan, Gangwon-do, Jeollanam-do, and Jeollabuk-do.

Speaking about the initiative, Myong Kil Yun, Regional Director, India & SAARC Countries, KTO, said, “India remains one of our most important source markets. With K-incentive Scheme 2.0, we aim to deepen our collaboration with Indian travel agents and incentivize them to actively create and sell Korea travel packages, ultimately helping us achieve the ambitious goal of welcoming 200,000 travellers from the country this year. Korea’s diverse destinations and its hidden gems offer unique experiences. From Busan’s stunning beaches and bustling markets to Gangwon-do’s serene mountains and Jeollanam-do’s rich history and cultural heritage, there is something for everyone.”

Riaz Munshi, President, OTOAI, said, “Embarking on a visionary voyage, as OTOAI aligns with KTO for the launch event of the K-Incentive Scheme 2.0, the synergy between our organisations creates a compelling force in shaping the future of travel. Korea tourism sector continues to blossom, fuelled by a blend of rich cultural heritage, technological advancements, and captivating attractions. From the iconic skyscrapers of Seoul to the serene landscapes of its countryside, Korea offers diverse experiences for every traveller. This collaboration is a symphony of innovation and excellence, promising a kaleidoscope of travel wonders. Together, we redefine travel standards, uniting expertise for an event that transcends expectations.”

Sankash introduces “No Cost Working Capital” program for travel agents

Plans to disburse INR 100 CR in the next 6-9 months at 0% interest

SanKash, India’s leading travel fintech firm announced the launch of a new service – A no-cost Working Capital program. Under this new initiative, SanKash plans to disburse INR 100 CR in the next 6-9 months at 0% interest. The aim of the initiative is to provide the much-needed timely financial boost to travel agents, helping them operate smoothly, grow their businesses, and serve their customers better.

According to the company release, “The biggest advantage is the travel agents can secure the funds they need without incurring any interest costs, making it an affordable and attractive financial solution. Moreover, the program is designed to be flexible, allowing travel agents to use the working capital for various business needs, such as covering operational expenses, marketing efforts, or expanding their service offerings.”

The Travel agents can avail up to INR 50 lakh with no collaterals, security, or guarantors to qualify for the no-cost working capital program. According to several industry reports, there are nearly 3 lakh travel agent businesses catering to the holidaymakers. These are scattered across categories of service providers such as travel packages, cab and bus bookings companies. This segment will be worth an estimated $65 billion by 2027.

Speaking on the initiative, Akash Dahiya, Co-founder & CEO, SanKash, said, “Our No-Cost Working Capital initiative for Travel Agents, which aims to disburse INR 100 CR in the next 6-9 months at 0% interest, represents a pivotal moment not just for SanKash but for the entire travel industry. We recognize the indispensable role that travel agents play in curating exceptional journeys and ensuring seamless experiences for travellers worldwide. We firmly believe that a thriving travel industry is built on cooperation, innovation, and the financial well-being of its key players, and with this initiative, we are excited to take the industry to new heights.”

The tourism sector in India is on track to become a trillion-dollar industry by 2047, generating around 400 million job opportunities, according to a report by Visa and EY. The travel agents typically incur a high-interest cost ranging from 18-24% otherwise. With this initiative, travel agents can realize substantial cost savings, thereby improving their overall financial health. SanKash’s no-cost working capital program empowers travel agents to optimize their operations, offer competitive prices, and achieve better profit margins. This support ultimately contributes to the long-term success and sustainability in the travel industry.