NusaTrip acquires IATA-licensed Vietnam International Tourism and Services Joint Stock Company
NusaTrip was previously acquired Leisure timeVietnam’s leading provider of hotel management and payment solutions, April 2023.
noosa trip the online retail sector social pass company (“SoPa”), Southeast Asia’s (SEA) next-generation data-driven, loyalty, fintech and e-commerce ecosystem, announced today that it has acquired Vietnam International Travel Service Joint Stock Company (“VIT”) is an IATA licensed full-service travel agency focused on Vietnam inbound and outbound marketing.
NusaTrip was previously acquired Leisure timeVietnam’s leading provider of hotel management and payment solutions, April 2023. Patrick Soetanto, CEO of NusaTrip, commented on the acquisition: “VIT is our first IATA-licensed travel acquisition outside of Indonesia. Our business plan calls for the acquisition of other IATA-licensed travel agencies throughout the Asia-Pacific region in 2023, including Philippines, Thailand, Singapore, Malaysia, Hong Kong, China, India and UAE as we position our company as the premier tourism hub in Southeast Asia. According to Focus WrightBy 2025, total bookings in Southeast Asia will reach 94% of the record level set in 2019, and digital transformation across Southeast Asia will accelerate rapidly, with online bookings more than doubling between 2022 and 2025. In fact, the region has returned to pre-pandemic levels. We are developing NusaTrip in due course. “
Established in Vietnam in 2016, VIT operates inbound and outbound ticketing business for corporate and tourism market segments. Nguyen Ngoc Minh, founder and managing director of VIT, explained his rationale for the sale to the company: “SoPa and NusaTrip are well-known leaders in e-commerce and travel in Southeast Asia and Vietnam. I am proud to sell VIT to NusaTrip because I Knowing that NusaTrip will greatly expand VIT’s presence in Vietnam. I wish SoPa and NusaTrip all the best for the future.”
Le Phan, Managing Director of NusaTrip and Founder of VLeisure added: “I am particularly excited about this acquisition as it will only add to the breadth and depth of NusaTrip and VLeisure’s offerings in Vietnam. politician Vietnam’s tourism market is expected to reach US$3 billion by 2023. The total market size is expected to reach USD 4.2 billion by 2027, growing at an annual rate of 8.8%. We intend to leverage VIT’s strong presence in Vietnam’s corporate and tourism markets to drive strong revenue growth for NusaTrip in 2023. “
Vietnam’s economy ranks 5th in Southeast Asia and 34th in the world, with a nominal GDP of US$449 billion in 2023.this world bank Vietnam’s economy is expected to expand by 6.3% in 2023 and 6.4% in 2024, after a strong 8% growth in 2022.
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