Unveiling the Entrepreneurial Odyssey of Mr. K. V. Abdul Nazar, Chairman & Managing Director of the Akbar Group
Way back in 1978, a spirited young man from Ponnani, Kerala accompanied a few friends to the city of hope then called Bombay (Mumbai). It was during a time when there were ships that would sail out of the Bombay harbour to the city of Dubai. He identified a crisis and was determined to find a solution. The young man was K.V Abdul Nazar. The crisis was the limited airline/travel services in then Bombay to Dubai. The solution was a 350-square-foot office in Janjikar Street, Bombay (now Mumbai) that was named Akbar Travels. Forty-six years hence, the same Akbar Travels stands as a giant in the travel and tourism industry, with branches in different parts of the world, including the US, Canada, the UK, Italy, the GCC region, Malaysia and lately ventured into Tanzania and Kenya. Akbar Group expands, exploring markets in Bangladesh, Philippines, and Australia ambitiously. Despite the humble beginning, Mr. KV Abdul Nazar today leads the Akbar Group empire, with an annual turnover of more than 2.4 billion USD which employees over 5000 people globally.
To give you a little glimpse of his incredible journey, we’ll need to rewind to the 1970s.
Abdul Nazar came from a typical lower middle class family hailing from the Malabar region of Kerala. During this period, India was being reckoned as an emerging contributor of skilled/non-skilled workforce globally. But the 1970s saw a rapid rise in the number of Indians migrating to the Gulf after the famous “oil boom.”Bombay (now Mumbai) was the major link connecting the country to the Gulf. However, the airlines were limited, their seats were limited, and so were the resources that could ensure prompt and safe travel services. The entrepreneur within a span of a year saw an opportunity to serve a wide community of travellers and took it upon himself to cater to their requirements by starting his own travel agency. Even at a tender age with no external support or a mentor, Abdul Nazar was wise enough to understand that traveling isn’t only about getting from Point A to Point B. It is an experience in itself, which must be hassle-free. His entrepreneurial vision had two main objectives. One, no client should have to worry about a thing except packing their bags and getting themselves to the airport/station on time. Two, a journey with Akbar Travels should leave a lasting impression on the clients for only the right reasons. Forty-six years hence, the foresight and diligence of the son of Karuppam Veetiyil Master has established a leading and trusted global travel company.
A major reason for Mr. Nazar’s entrepreneurial success is that his ambitions weren’t fuelled by profits but by his compassion and to see that how could his venture add value to the travel landscape of India. It was his compassion towards the plight of travellers that made him want to create a company that would bring easy, accessible travel solutions to anyone who so desires. And this now resonates with his daughters Ms. Benazir Nazar the CEO of Akbar Holidays and Ms Ashiya Nazar the head of Akbar Travels Middle East.
It was his concern that made him go beyond the world of business and realize that his hometown, Ponnani, desperately needed developments. As a quaint small town on the Malabar coast of Kerala, Ponnani was facing its realistic challenges of development, modernization and growth. With his vision and leadership, the Ponnani Benzy Polyclinic was founded, offering world-class medical services the community deserves. Along with this he opened petrol pumps, food and oil companies. Hilal Public School fostering holistic education, the agro venture producing versatile coconut derivatives and sustainable organic farming practices, ensuring quality and environmental stewardship and many such ventures which not only added to the development of Ponnani but also created employment for people of Kerala.
After a span of 46 years, this Indian travel behemoth, the Akbar Group encompasses a diverse range of companies, each a leader in its domain. From the renowned and award winning online company akbartravels.com, the holiday giants curating the most affordable holidays - Akbar Holidays, Akbar Study Abroad catering to travel and education needs of millions of students to Akbar Corporate managing the travel needs of the various corporate powerhouses in India and abroad, Travocure –the company acing in medical tourism, Benzy Infotech innovating cutting edge solutions in travel technology, Akbar Forex, Benzy Marine spearheading travel needs for global shipping companies, Benco Oil, Benzy Productions creating enriching Malayalam movies, Akbar Cabs, Akbar Academy of Airline Studies, Akbar Express Cargo Air and Road, and an array of other ventures, the group has consistently demonstrated innovation and reliability, earning a formidable reputation in the global business landscape.
This endeavour is only one of the countless such endeavours to contribute toward his community and his country—a motto embodied by the entire Akbar Group family, and a legacy that will continue to live on for years to come.
The tourism sector has been recovering, but the number of foreign tourist arrivals (FTAs) in India is yet to touch pre-Covid level. (Note: FTA was 1.09 crore in 2019; 15.27 lakh in 2021; 61.91 lakh in 2022; and 31.33 lakh till April 2023). How can the sector record faster growth?
It is true that the tourism industry still has not bounced back to its pre-COVID-19 progress. However, several factors could expedite both recovery and growth. We could begin by launching global marketing campaigns that highlight India’s unique culture, history, diversity, and heritage. Digital marketing platforms are brimming with potential in this regard, which should be harnessed to the fullest possible extent. In the course of this, we could reach out to other global travel agencies to develop lucrative partnerships where our travellers would receive the best end of the deal. This could be through better travel packages, discounts, and other encouraging incentives. We also see immense potential for developing public-private partnerships that facilitate leveraging resources, sharing expertise, and implementing strategies to boost the growth of tourism.
In line with global trends, we also consider the promotion of sustainable tourism as a relatively underexplored space that could draw more travellers to India. With increasing awareness about the climate and environmental issues, focusing on eco-friendly tourism and creating environmentally conscious tourist packages/tourism options may prove effective. However, we also simultaneously require further enhancement of our tourism-related infrastructure like improved roadways, railways, and airports. Furthermore, efforts to increase financial incentives and support extended to tourism-associated businesses in the form of grants, subsidies, and job creation could also catapult the entire tourism sector to unimaginable heights. This could go hand-in-hand with cultivating a well-trained and hospitable workforce, which would ensure revisits by travellers and draw the attention of potential travellers.
The Incredible India campaign launched in 2002 successfully established India as a prominent tourist destination. The Athithidevo Bhava campaign, launched in 2008, also helped India become a more tourist-friendly place. How have these campaigns influenced the evolution of tourism industry in India?
Both the “Incredible India”(2002) and the “Atithi Devo Bhava”campaigns (2008) significantly shaped the perception of India as a tourist-friendly travel destination. On the level of brand-building, these brilliantly showcased India’s hospitality and warmth as being inherent in our culture. Beginning from highlighting historical sites, vibrant festivals, diverse food culture, and myriad and distinct topography, both campaigns captured and presented the essence of India. On the level of influencing the evolution of tourism industry, the consequence of successfully drawing an increasing number of tourists meant accelerated tourism infrastructure development. More tourists also meant positive economic outcomes across various sectors, including hospitality, transportation, and local businesses. Not to forget the contribution toward India’s GDP and employment generation.
As the tourism industry witnessed growth, it began embracing technology to reach global audiences (primarily through social media) and building resilient international partnerships. This also translated into keener observations, consistently keeping up with trends in tourism, understanding and engaging with potential travellers, and adopting new ideas like adventure tourism, wellness tourism, sustainable tourism, and so on.
India has recorded steady economic and infrastructure growth in the past few years. The growth forecast for the next few years is also positive. How is the industry planning leverage these factors?
The tourism industry aims to align itself with the positive economic trajectory through targeted measures.
Infrastructural development is a priority. To leverage advancements in this regard, we urge for increased investment in transportation, accommodation, and amenities at key tourist destinations as well as improved land and air connectivity. We have also made commendable strides in digitalization. The tourism industry can leverage this through the development of interactive websites, engaging social media campaigns, and the incorporation of innovative ideas like virtual reality to showcase the richness of India.
The economic developments would facilitate better and more strategic marketing initiatives focused on destination diversification and niche tourism development. The industry intends to promote India's cultural diversity, historical landmarks, and emerging urban destinations through targeted campaigns. Collaborations with global players, including airlines and hospitality brands, are already being explored to expand the reach and accessibility of Indian tourism.
What is the vision for Akbar Travels in the ever-changing travel landscape?
We seek to build a world where travel isn't just about visiting new places but also respecting one another and embracing differences. Through our wide range of travel services, we hope to facilitate important cultural exchanges that leave a positive impact on both the travellers and their travel destinations.
A key aspect of this future is sustainability. We are increasingly committed to promoting eco-friendly travel and tourism practices, avoiding any adverse effects on the environment. This is especially where the previously highlighted “responsible tourism”comes in.
