Musafir Business, the leading all-in-one corporate travel management platform in the region by musafir.com, has achieved a remarkable 97% increase in Gross Merchandise Volume (GMV). Surpassing pre-pandemic sales, the company is poised for a record-breaking year. Additionally, Musafir Business has successfully launched in India, a rapidly growing travel market with a corporate travel spend of approximately $36 billion last year.
Building on its impressive track record of delivering approximately 20% savings on annual travel spend for Middle Eastern organizations, Musafir Business processed over 600,000 transactions in 2022. The company aims to sustain its growth momentum in 2023, targeting approximately 1.1 million transactions for the year.
Sachin Gadoya, Co-founder & CEO of musafir.com and Musafir Business, expressed the company's commitment to expansion, stating, "We have experienced remarkable growth in the region and are determined to replicate this success in other markets. With our successful launch in India and the overwhelming response we received within the first month, we are thrilled to announce our upcoming expansion into Saudi Arabia, scheduled for Q3 2023.”
The global business travel spending reached $933 billion in 2022, accounting for 65% of the pre-pandemic travel spend of $1.4 trillion. The MEA region contributed approximately 2.5% of the overall business travel spending in 2022, amounting to $23 billion.
Musafir Business has also witnessed a significant 25% growth in average corporate transaction value compared to pre-pandemic levels. Gadoya emphasized the company's focus on enhancing the customer experience, building differentiation through digital products, and gaining deeper customer insights. He added, “We are committed to continuously improving the Musafir Business platform by utilizing cutting-edge technology and leveraging machine learning algorithms to improve customer experiences. In addition to developing our B2B platform for travel agents, later this year we will launch our travel app, which will enhance the travel experience for both our corporate & leisure customers.”
Musafir Business's commitment to providing a comprehensive and streamlined travel management solution for businesses is evident. The platform integrates flights, hotels and visas (UAE Tourist visas & Global Visa assistance) into a user-friendly interface, enabling companies to manage travel expenses and streamline operations efficiently.
Offering an enhanced traveler experience with personalized recommendations, real-time alerts, and reliable support simplifies expense management, improving cost control and accuracy. Moreover, advanced data analytics provide valuable insights, enabling data-driven decisions for optimized travel programs. With a focus on compliance and policy enforcement, Musafir Business prioritizes corporate governance and traveler safety.