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Business Expansion Strategy Development for San Ruskindo’s in South Asian Tourism Markets
In this study, an international expansion strategy is developed surrounding San Ruskindo which is a business-to-business (B2B) travel agency established between Indonesia and Russia and the aim of diversifying the market base and solving the issue of underutilization of its capacity. The firm is also vulnerable to market concentration risks as it currently relies on the outbound tourism in Indonesia and therefore restricted growth opportunities. In its turn, the study explores the possibility and strategic appropriateness of entering the South Asian tourism markets. The study adopted a qualitative, project-based research design based on an Evidence-Based Management (EBM) approach and uses secondary data sources in the form of industry reports, tourism statistics, policy reports. Five target markets, namely India, Bangladesh, Sri Lanka, Maldives, and Pakistan are analyzed with the help of a complex of strategic analytical tools: SWOT analysis, PESTEL analysis, and a comparative market ranking system. Results indicate that South Asia is an important market with a significant opportunity due to the growing income of the middle-class, the growing demand of outbound travel, and the digitalization of tourism services. Nonetheless, market heterogeneity requires discriminating and dynamic strategy of entry. The research provides the focus on India and Bangladesh as the countries of priority, which are backed with the potential of high demand and the prospects of partnering. It is suggested to implement a phased internationalization strategy, which would focus on B2B partnerships, culturally-specific travel packages, and digital marketing integration. The research contributes to the literature on international business and tourism by providing a context-specific strategic framework for B2B tourism expansion in emerging markets, while offering actionable insights for practitioners seeking market diversification.