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Tumodo, an innovative B2B travel platform, has forayed into the Indian market with a new office opening in Bengaluru this week. Established in 2023, Tumodo aims to accelerate business travel in India and is ready to expand operations following a successful pre-seed funding round. With its advanced platform and AI-driven solutions, Tumodo is targeting a 5 per cent market share in India by 2027.
The Indian business travel sector saw substantial growth in 2023, with a remarkable 24.7 per cent increase in spending. Projections for 2024 indicate a further 18.3 per cent rise, underlining the escalating demand for efficient, sustainable, and cost-effective travel solutions.
A study by the Global Business Travel Association revealed that 60 per cent of travel buyers anticipate increased travel in 2024, driven by the need for in-person connections and the quest for eco-friendly and budget-conscious travel options.
Vladimir Kokorin, Co-Founder of Tumodo, expressed his enthusiasm for entering the Indian market, stating, “We are thrilled to introduce Tumodo to India, a rapidly growing market with immense opportunities. Our AI-powered platform enables businesses to secure the best travel deals effortlessly, saving an average of 35 per cent on travel expenses. Tumodo will streamline business travel booking in India, empowering companies to focus on their core operations.”
The rebound in the tourism sector has been particularly notable, with global travel and tourism revenues projected to increase by 8.3 per cent in 2024, reaching almost USD 930 billion. This surge marks the highest revenue figure ever recorded in the industry, reflecting a strong resurgence following the pandemic-induced downturn.
Having established over 100 partnerships in the MENA region, including collaborations with Tabby and Azizi, Tumodo offers access to 400 airlines and 2 million accommodation options. The platform said it simplifies the business travel booking process, allowing employees to plan trips efficiently while concentrating on their primary responsibilities.India is witnessing a surge in bleisure travel post-pandemic, with up to 70 per cent of business travellers extending their trips for leisure. With India ranking as the 9th largest global market for business travel spending, expected to reach USD 38.2 billion by 2024 and USD 49.5 billion by 2027, Tumodo’s strategic entry in India promises to capture a substantial share of this expanding market.
As business travel expenses in Central Asia Pacific countries are forecasted to surpass pre-Covid levels by 20 per cent in 2027, Tumodo is well-positioned to capitalise on this growth trajectory.
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