NusaTrip Inc Acquires Vietnam International Travel Service

NusaTrip Inc Acquires Vietnam International Travel Service

NusaTrip Inc acquires IATA-licensed Vietnam International Travel and Services Joint Stock Company; acquisition adds approximately $2 million in GMV to NusaTrip revenue base

JAKARTA, 20 July 2023 – (ACN Newswire) – Noosa Tours (“NusaTrip”), the online retail division social pass company (“SOPA”)(Nasdaq: SOPA), the next-generation data-driven, loyalty, fintech and e-commerce ecosystem in Southeast Asia (SEA), announced today that it has acquired Vietnam International Travel and Services JSC (“VIT”), an IATA-licensed full-service travel Company The agency focuses on the marketing of Vietnam inbound and outbound markets.

NusaTrip previously acquired VLeisure, a leading provider of hotel management and payment solutions in Vietnam in 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 the UAE as we position NusaTrip as Southeast Asia’s premier travel hub. According to Phocuswright, gross bookings in Southeast Asia will reach 94% from 2019’s record levels by 2025 %, 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 growing 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 the rationale for the sale to NusaTrip: “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 increase the breadth and depth of the offerings of NusaTrip and VLeisure in Vietnam. will reach US$ 3 billion. By 2027, the total market size is expected to reach US$ 4.2 billion, with an annual growth rate of 8.8%. We intend to leverage VIT’s strong presence in Vietnam’s corporate and tourism markets to drive NusaTrip’s strong growth in 2023 revenue growth.”

Vietnam’s economy ranks 5th in Southeast Asia and 34th in the world, with a nominal GDP of US$449 billion in 2023. The World Bank forecasts that Vietnam’s economy will expand by 6.3% in 2023 and 6.4% in 2024 after a strong 8% growth in 2022.

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