International travel ‘to see steeper growth in 2023’

International travel ‘to see steeper growth in 2023’

The international travel segment will enjoy a faster growth path in 2023 versus the previous year, according to Musafir.com, a leading online travel agency in the UAE.

“Travel sector constitutes nearly 10%1 of global GDP and authorities across countries have been collaborating synergistically to put in place the levels of safety, hygiene, and comfort required for the sector to regain its lost ground,” said Sachin Gadoya, Co-founder & CEO of Musafir.com & Musafir Business.

“Consequently, FY’ 2022 witnessed a steady recovery for leisure as well as business travel, on the back of a significant reduction in pandemic-related risk, eased travel regulations worldwide, enhanced travelers’ confidence and the desire at corporate levels to resume productive in-person engagements. The trend would only strengthen in 2023.”

The data and trends, gathered through queries and bookings on Musafir Business platform, forecast business travelers to continue choosing First & Business class, despite a rise of ~10-15% in airfare. Premium Economy mode of travel augments further the choice repertoire of such travelers.

All put together, the average corporate travel budget in 2023 would rise by 15-20%, bringing it to a level comparable to pre-pandemic days.

Gadoya added: “Insights obtained from Musafir Business platform establish very clearly that the organizations in the