Musafir forecasts travel demand will rise in 2022, recovering to 80 percent of pre-pandemic levels. The company anticipates continued development in the tourism industry as well as corporate travel. The two sectors see a gradual rise in demand due to increased traveler confidence, vaccinations, interest in personal interaction, and the easing of entry restrictions in many destinations.
The results gathered from Musafir’s platform indicate that most companies do not plan to limit their business travel, given the importance of face-to-face meetings and the longevity of business relationships. On average, SMEs in the UAE spend approximately AED 250,000 annually (2019) on business travel.
Research indicates that businesses have adopted a conservative approach by increasing the frequency of travel and limiting the duration of each trip to an average of one to three days. The most popular destinations for UAE corporate travelers are Riyadh, London, New York, San Francisco, and Mumbai, where conferences and trade shows account for many business trips and other meetings. Additionally, data indicate that the UAE and KSA are seeing an increase in corporate travelers from India, France, the United States, Egypt, Pakistan, Germany, the United Kingdom, Russia, and China. Additionally, the demand for clean and hygienic 4 and 5 star hotels that offer PCR testing services has surged.
The travel industry generates more than 10 percent of the global GDP and nearly 12 percent of global employment, according to UNWTO.
Musafir has also identified gaps in the travel ecosystem and is utilizing its travel technology expertise to develop an expense management tool that will be effective for corporations during unprecedented economic times.
Musafir recently enhanced its online booking platform, leveraging advanced technology to provide customers and partners with a seamless experience. As demand for travel increases, the company plans to expand its presence to four geographical locations by 2022.