Australian travel retailer Flight Centre expects to more than double its network and business in India over the next five years.
Flight Centre, listed on the Australian Stock Exchange, debuted in India 10 years ago and now considers the nation one of its top five corporate business markets globally.
“India is an emerging market and a long term business for us,” said Rob Flint, executive GM – Asia and global corporate told the Economic Times.
“We are expecting a high double digit growth from this market over the next five years.”
Flight Centre currently operates a corporate travel arm FCm Travel Solutions along with leisure travel company Flight Shop in India. The company currently has 12 operational stores in the country and plans to open 10 more next year.
“We currently do about Rs 200 million (US$3 million) of business in India and believe that to be a leader in our space in India, we need to do at least Rs 500 million of business. We want to get to that level in the next five years,” added Rakshit Desai, MD India, FCm Travel Solutions and Flight Shop.
Consumer travel accounts for about half the company’s turnover currently but it sees the corporate market as its main growth driver. The entire Flight Centre India operations posted profit growth of 12 per cent this year against last.
The company entered India by buying New Delhi-based travel agency Friends Globe.