Travel News
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.
Challenges and Innovations in the Nigerian Travel Industry
By Chinedu Eze
With continuous depreciation of the naira, the increasing cost of airfares, and stringent conditions on visa protocols 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 slowdown in 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 visas, hotels, and tickets, and using new technology to keep their clients abreast of developments in their travel plans. In a recent presentation at the League of Airport and Aviation Conference in Lagos, the Managing Director of FCM Nigeria, Adejoju Olutimayin, emphasized that to have a competitive edge, a company must adopt comprehensive travel management solutions in response to today’s fast-paced business environment.
Embracing Adaptability and Innovation
In her presentation, which focused on the importance of adaptability and innovation in the corporate travel sector, Olutimayin emphasized that in a macroeconomic environment marked by uncertainty, a strategic travel organization must show commitment to delivering tailored travel solutions and prioritize clients' needs. This 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,” Olutimayin emphasized.
She underscored the importance of comprehensive travel management, integrating technology such as machine learning and data analytics. Olutimayin disclosed that the FCM platform streamlines travel booking, expense management, and real-time support, ensuring top-notch service for 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, noting 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.
Meeting the Demands of Modern Business Travel
Appraising the travel market, Olutimayin said the need for comprehensive travel management solutions was more critical than ever and explained that modern business travel was complex, requiring flexibility, cost-efficiency, and stringent safety measures. She stressed that FCM Nigeria offered these tailored travel solutions to meet 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 continents, the company is poised to cater to the needs of multinationals looking for a consolidated approach to their travel programs. “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,” Olutimayin said.
Effective Travel Policies and Cost Management
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 optimizing travel budgets is a priority for any business, and FCM Nigeria adopts prudent ways of offering clients the best service at minimal cost. She also disclosed that today’s business travellers like to incorporate leisure, a trend recognized by FCM Nigeria, which evolves travel packages that take cognizance 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,” she said.
“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 prioritize traveller health and safety, as well as the duty of care and risk and mitigation tools used to track travellers on their trips,” she added.
Technology and Sustainable Practices
Olutimayin emphasized that the role of technology in corporate travel cannot be overstated. From AI and machine learning to data analytics, technology enables seamless and personalized travel experiences. She added 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,” Olutimayin said.
She also noted that the corporate travel industry is evolving; staying ahead of trends and technological advancements is essential. Partnering with FCM Nigeria ensures comprehensive and effective travel management, tailored to meet clients' 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 hospitality. Statistics indicate that the travel and tourism sector in Nigeria contributed about 2.9 percent of the Gross Domestic Product (GDP) in 2018 and this is projected to rise by 4.3 percent per annum from 2018 to 2028. By 2028, it is expected that the industry will be worth N3.6 billion.