IBEF: September 17, 2021
On September 16, 2021, EaseMyTrip, an online travel company announced its expansion in the international markets such as Philippines, Thailand and the US.
EaseMyTrip stated in a regulatory filing, “The company has entered into international markets, due to an anticipated rising demand for travel and tourism worldwide in the coming months.”
The company announced that this expansion is a part of the company’s global expansion strategy. As part of this, the company plans to introduce a localised travel search engine in each world-wide subsidiary to support its customers in the region to leverage the value-based services offered by EaseMyTrip.
EaseMyTrip CEO and Co-Founder, Mr. Nishant Pitti said, "Markets such as Philippines, Thailand, and the USA account for a major portion our international holiday package business. We are thrilled to enter into these countries for this new phase of global expansion.”
He added that there is anticipated global demand rise in the coming months. The company projects to leverage a wide opportunity from across the world for travel and tourism. Also, the company believes that it is well-positioned for massive growth in international markets.
Previously, the company has built its footprint across countries such as the UK, the UAE and Singapore, to cater to Indian customers travelling international to these countries.
The company stated that at present, the search engine built for the UAE is live, and the subsidiaries in the US, the UK, Singapore, Philippines and Thailand are expected to follow suit.
In addition, the company also plans to discover opportunities with local firms across these countries to strengthen capabilities and offerings within these countries and boost travel experience of the customers, that visit these countries.
On BSE, the company’s shares were trading at Rs. 608.50 (US$ 8.28) per scrip, a growth of 11.99% from its previous close.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.