How Travel Agencies Deploy Strategies to Remain Competitive

Chinedu Eze

With continuous depreciation of the naira, the increasing cost of airfares and stringent conditions on visa protocol by some countries, international travel is facing difficult times in Nigeria.

Although Nigeria still records about four million passenger traffic on international destinations every year, industry experts predict that there could be a slow down on passenger traffic from 2024 due to the nation’s economic downturn.

This has prompted travel agents to adopt different strategies to retain, expand their market and remain competitive in the murky downstream aviation sector.

Some companies now offer comprehensive travel services to personal and corporate clientele, which include sourcing visa, hotel, tickets and using new technology to keep their clients abreast of development in their travel plans.

In a presentation she did recently at the League of Airport and Aviation Conference in Lagos, the Managing Director of FCM Nigeria, Adejoju Olutimayin, said to have competitive edge, the company has to adopt comprehensive travel management solutions in response to today’s fast-paced business environment.

In her presentation, which focused on the importance of adaptability and innovation in the corporate travel sector, Olutimayin emphasised that in a macroeconomic environment marked by uncertainty, a strategic travel organization must show commitment to delivering tailored travel solutions and prioritise client’s needs and that is FCM’s core focus, which has attracted more clients to its portfolio.

“Our technology, travel policies, and uniform service globally are designed to provide a seamless experience for our clients,” Olutimayinemphasised.

She underscored the importance of comprehensive travel management, integrating technology such as machine learning, and data analytics, disclosing that FCM platform streamlines travel booking, expense management, and real-time support, ensuring top-notch service for our clients.

“Our proprietary technology tools such as the FCM Platform that connects the traveller, the booker and the arranger together allow streamlined travel booking, and expense management. FCM Nigeria, a global travel management company, offers tailored services that incorporate technology, effective travel policies, and cost management strategies to ensure seamless travel experiences for corporate clients,” Olutimayin said.

She added that the company’s dedication to excellence was further underscored by its recent recognition at the Meetings, Incentives, Conferences and Exhibitions (MICE) Awards, adding that the company’s nomination for the World MICE award is a testament to its excellence in curating great experiences.

“We take pride in our ability to adapt to the evolving needs of our clients, providing exceptional service” Olutimayin said.

Appraising the travel market, she said the need for comprehensive travel management solutions was more critical than ever at this time and explained that modern business travel was complex, requiring flexibility, cost-efficiency, and stringent safety measures, stressing that FCM Nigeria, offered these tailored travel solutions that met these demands.

The Managing Director said FCM Nigeria remained a global travel management company focused on delivering exceptional travel management services to businesses across various sectors. With offices in over 100 countries across all the continents of the world, adding that the company is poised to cater to the needs of multinationals looking for a consolidated approach to their travel programmes.

“In today’s fast-paced business environment, the need for comprehensive travel management solutions is more critical than ever. Modern business travel is complex, requiring flexibility, cost-efficiency, and stringent safety measures. At FCM Nigeria, we offer tailored travel solutions that meet these demands. Our goal is to ensure smooth and efficient travel experiences for our corporate clients, allowing them to focus on their core business activities.

She said the company has well-structured corporate travel policies which are essential for managing travel expenses, ensuring compliance, and enhancing traveler satisfaction.

“At FCM Nigeria, we assist businesses in developing and implementing effective travel policies that align with their objectives and support employee well-being. These policies not only control costs but also ensure a seamless travel experience for employees,” Olutimayin further said.

On cost management, she said that optimising travel budgets is a priority for any business and this is recognized and adopt prudent ways of offering the clients the best service at minimal cost.

She also disclosed that today’s travellers on business like to incorporate leisure and this is recognized by FCM Nigeria and evolves travel package that takes cognisance of new trends without perforating the client’s pocket.

“Corporate travel is evolving rapidly, and we are witnessing exciting trends shaping the industry’s future. One of the most notable trends is the rise of “B-leisure” travel, where business travellers extend their trips to include leisure activities. This trend not only enhances the traveller’s experience but also promotes a healthier work-life balance.

“There is also an increasing focus on travellers’ well-being. Companies are now more aware of the importance of ensuring their employees’ health and comfort while travelling. This shift has led to the adoption of policies that prioritise traveller health and safety, as well as the duty of care and risk and mitigation tools used to track travellers on their trips,” she said.

She emphasised that the role of technology in corporate travel cannot be overstated. From AI and machine learning to data analytics, technology; these are  enabling “us to provide seamless and personalised travel experiences,” adding that sustainable travel practices are also gaining traction as more corporations integrate eco-friendly options into their travel policies, aligning with global efforts to reduce carbon footprints.

“FCM Nigeria has helped businesses streamline their travel management, reduce costs, and improve traveller satisfaction. Our solutions have effectively addressed various challenges faced by our clients, from managing complex itineraries to ensuring compliance with corporate policies.  At FCM Nigeria, we have a deep understanding of the corporate travel landscape. Our experienced team is committed to delivering innovative and customized solutions for businesses of all sizes. We take pride in our ability to adapt to the evolving needs of our clients, providing exceptional service and support,” she added.

She also said that the corporate travel industry was evolving; therefore, it is essential to stay ahead of the trends and technological advancements; so, partnering with FCM Nigeria ensures comprehensive and effective travel management, tailored to meet client’s specific needs.

Competition is rife among major travel agencies in Nigeria. But as operators in the downstream of the aviation sector, not many know about the critical role that travel agencies play in connecting people to flights and hospitalities.

Statistics indicate that travel and tourism sector in Nigeria contributed about 2.9 per cent of the Gross Domestic Product (GDP) of Nigeria in 2018 and this is projected to rise by 4.3 per cent per annum, from 2018-2028. By 2028, it is expected that the industry would be worth N3.6 billion.