Easy Trip Planners (EaseMyTrip) is expanding globally with new subsidiaries in Brazil and Saudi Arabia and a strategic investment in the U.S. to tap into high-growth travel markets. The company has also strengthened its Middle Eastern presence through new ventures in Dubai, focusing on tour operations and vacation rentals.
Shares of online travel agency Easy Trip Planners fell up to 2 percent on March 25, as investors were likely not enthused by the company’s global expansion via strategic investments in Brazil, Middle East and the US market, along with a foray into the aviation business.
The shares were trading with a cut of over 2 percent as of 11:20 am on March 25.
Easy Trip Planners (operating as EaseMyTrip) had announced a significant global expansion with its official entry into the Brazilian and Middle Eastern markets, alongside a strategic investment in the United States.
A day before, Easy Trip Planners’ board had approved an investment for 49 percent stake in Big Charter Private Limited (BCPL), expanding into the aviation segment to enhance its reach into Tier II and III cities.
The company has set up two wholly-owned foreign subsidiaries in Brazil and Saudi Arabia to tap into high-growth international markets. Easy Trip’s UAE subsidiary made a strategic investment in two newly-established Dubai-based subsidiaries – Ease My Trip Tours L.L.C. (EMT Tours) and Ease My Trip Holiday Homes L.L.C. (EMT Holiday). EMT Tours will focus on inbound and outbound tour operations while EMT Holiday will cater to the growing vacation rental market.
The expansion aligns with the boom in UAE’s tourism sector, which is expected to contribute AED 236 billion to the national economy in 2024, accounting for 12 percent of GDP. In addition, Easy Trip Planners has invested in EaseMyTrip USA as tourism in the country is expected to contribute a record-breaking USD 2.36 trillion to the economy. Brazil’s travel market, valued at $21.6 billion in 2023, is projected to grow to $22.3 billion by 2028, while Saudi Arabia’s tourism sector is expected to reach $53.2 billion in 2024 and $110.1 billion by 2033 at a CAGR of 8.4 percent, according to industry estimates.
Nishant Pitti, Chairman and Founder of Easy Trip Planners said, “This is a significant milestone in our growth story as we expand our global presence and diversify our services. Our entry into Brazil and Saudi Arabia, along with our expansion in the Middle East and the US, reflects our commitment to offering seamless travel experiences across the globe. We are confident that our technological expertise and customer-centric approach will help us grow rapidly in these regions and contribute to the growth of the global travel and aviation sectors.”
Pitti added, “As we continue to scale, our focus remains on leveraging innovation to create unmatched value for our customers and stakeholders.”
Source: moneycontrol