Nigerian Travel: Finchglow Forges Alliances to Boost Demand
Travel agents in Port Harcourt, spearheaded by Finchglow Travels, recently convened the PartnerPlus Connect (PPC) session to tackle the persistent issues of low traveling rates and escalating airline ticket fares in the post-COVID-19 era. This interactive live session aimed to foster deeper engagement between trade partners and airline collaborators, strategizing effective measures to rejuvenate travel demand.
During the weekend session, industry stakeholders expressed significant concerns, particularly highlighting the adverse impact of technological advancements on travel frequency. Mr. Ezekiel Ikotun, the Managing Director of Finchglow Travels, emphasized that the foreign exchange (forex) issue has posed a substantial challenge to the travel sector, urging both agents and customers to maintain professionalism in their operations amidst these difficulties.
Ikotun further elaborated on how the forex crisis has directly influenced ticket pricing and, consequently, travelers' purchasing power. He explained that the trapping of airline funds due to forex challenges compelled airlines to increase ticket fares, which in turn has profoundly affected the buying strength and travel behaviors of consumers. Drawing a comparison, he noted that the industry's revenue peaked in 2019 when the exchange rate was below N300, whereas currently, it stands around N1500, underscoring the severity of the financial pressures. Despite these hurdles, he acknowledged a tremendous improvement in travel activities post-COVID-19 and expressed optimism that the sector would reach its pre-COVID-19 milestones by next year, paving the way for future growth.
The PartnerPlus Connect, themed "Boosting Travel Demand, Airline and Consolidator Insights," served as a crucial platform for consolidating knowledge and equipping stakeholders with insights on operating a professional travel agency. The event brought together a distinguished roster of top international and regional airlines, including Emirates, Delta Air Lines, United Airlines, and Air Peace, alongside technology partner SABRE, and a diverse group of long-standing trade partners from across Nigeria's travel sector, all focused on collective problem-solving and strategic development.
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