OTAs to play an essential role in BD travel market, say experts at seminar
Keeping pace with the development of technology and global trend, Bangladesh travel market is expected to experience an exponential growth in online management of customers’ travel needs. But this new phenomenon needs policy support and strict monitoring from the federal government because of its proper and healthy growth.
Such observations were shared by the speakers at a seminar titled ‘Travel and Technology: Emergence of OTAs in Bangladesh’ held at Pan Pacific Sonargaon Hotel, in the administrative centre on March 9.
The seminar was organised by the premier aviation and travel publication The Bangladesh Monitor with support from City Bank Ltd, Eastern Bank Ltd, Global Distribution Systems like Sabre, Galileo and Amadeus.
The day-long seminar, to begin its kind, happened in two sessions and was addressed by Major General Ibne Fazal Shayekhuzzaman, Director, Biman Bangladesh Airlines; Rizwan Rahman, President, DCCI; Monsur Ahmed Kalam, President, ATAB; M Shahadat Hossain Taslim, President, HAAB; and Almas Kabir, President, BASIS, amongst others.
Two keynote papers were presented at the seminar, one on Emergence of OTAs in Bangladesh by Kazi Wahidul Alam, Editor of The Bangladesh Monitor and the other on Travel and Technology by Tina Jabeen, Managing Director and CEO of Startup Bangladesh Ltd.
Kazi Wahidul Alam in his keynote paper noted that Online Travel Agencies started approaching in Bangladesh in 2017 and presently over 50 OTAs are functioning in the united states. According to a prediction made in 2019, OTAs market share is meant to be over 45 % by 2025. Today, OTAs aren't only providing ticket booking services but hotel booking and visa processing and other relevant services aswell.
Wahidul Alam opined that with a population of 164.5 million, 58 % internet penetration, USD 2 billion worth e-commerce market, 1.90 million bank transfers per month, 685,000 daily card transactions, 40,000 online orders each day, USD 97.4 million digital payment a year, and 9.5 million of transactions each day through mobile financial services with a complete transaction amount of USD 173.5 million per day, OTAs are expected to flourish exponentially in the coming years.
Besides, the seminar hosted two separate panel discussions participated by representatives from airlines, GDS companies, financial institutions and OTAs, among others.
Source: bangladeshmonitor.com.bd
